MReport February 2021

TheMReport — News and strategies for the evolving mortgage marketplace.

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8 | M R EP O RT MTECH directory, as well as access to SocialSurvey's reviews platform. When a broker closes a loan with one of the participating lenders, their borrower will automatically be sent a personalized survey from you. Upon completion of the survey SocialSurvey will help the broker generate additional re- views on a choice of platforms— including Zillow, Google, and Facebook—to further expand local market visibility. "BrokersUnited offers a massive opportunity for broker partners to reach all of their customers in a powerful way," said Dave Schroeder, EVP of Wholesale Lending at Caliber Home Loans, one of the founding lenders be- hind this endeavor. "The objective of this collaboration is supporting the growth of the broker channel through optimization of customer experience, marketing of their business, and collaborating with lenders to develop solutions from the insights gained." Other lenders participating in BrokersUnited are Freedom Mortgage Wholesale Division, Parkside Lending, PennyMac Broker Direct, NewFi Wholesale, PRMG, and Fairway Wholesale Lending. New Life Insurance Policy Product Aimed at Mortgage Borrowers THE LOANMATCH PROTECTOR ENABLES LENDERS TO EARN COMMISSIONS ON POLICY SALES. A trio of companies–Covr Financial Technologies, Americo Life Inc., and SCOR have teamed up to intro- duce LoanMatch Protector, a life insurance policy customized to meet a mortgage borrower's spe- cific loan amortization schedule. According to the companies, loan originators and brokers can use the product during or follow- ing the loan closing process, and the product can be digitally inte- grated into any loan origination platform. The insurance amount closely matches the loan amount, and the process can be completed in less than 15 minutes. Furthermore, the product is compliant with the Real Estate Settlement Procedures Act and is designed to enable the lender to receive a commission on all life insurance policies that are purchased. "LoanMatch Protector is an example of market-leading in- novation in the life insurance space," said Mike Kalen, CEO of Hartford, Connecticut-based Covr Financial Technologies. "In a time of increased consumer demand for life insurance, Covr, Americo, and SCOR have joined forces to develop a product that provides a highly desirable and personalized life insurance policy for consum- ers that is linked to their loan amount." New Platform Brings Marketing and Customer- Engagement Tech to Wholesale Lenders TOTAL EXPERT FOR WHOLESALE IS DESIGNED TO STRENGTHEN BROKER RELATIONSHIPS. T otal Expert, a Minneapo- lis-headquartered fintech specializing in market- ing and customer-engagement technology platforms for banks and lenders, has launched Total Expert for Wholesale for the mortgage industry's wholesale channel. According to the company, the new platform enables whole- sale lenders to maintain their compliance requirements while giving broker salesforces creative freedom on customer marketing and engagement. The company added that the platform is de- signed to help wholesale lenders grow market share with data and marketing automation, provide brokers with lender-branded tools to engage and retain customers, strengthen broker relationships with personalized communi- cations to active brokers, and close more loans by automating customer recapture and retention campaigns on behalf of brokers. "With wholesale market share growing 40% in the last five years, lenders can now diversify into this channel faster with Total Expert," Total Expert Founder and CEO Joe Welu said. "Wholesale lenders use Total Expert to build stickier broker partnerships, empower brokers to close more loans, and foster customer relationships that last a lifetime. Brokers and the whole- salers who power them now serve almost 15% of U.S. mortgage customers. Total Expert will relentlessly help wholesalers and brokers grow and retain these customer relationships for life." Evolve Mortgage Services Buys Veptas' Appraisal Platform Assets BILL REESE, THE HEAD OF OPERATIONS AT VEPTAS TECHNOLOGY SOLUTIONS, WILL BECOME PART OF THE EVOLVE TEAM. E volve Mortgage Services, a Frisco, Texas-based provider of outsourced mortgage solutions, has acquired the appraisal platform assets of Malvern, Pennsylvania-head- quartered Veptas Technology Solutions Inc. The terms of the transaction, which is classified as an asset sale, were not disclosed. Bill Reese, the head of operations at Veptas Technology Solutions, joined Evolve as part of the deal. According to Evolve, the acquisition will help the com- pany offset the severe shortage of mortgage underwriters that has been created by the current refi- nance cycle. The Veptas platform streamlines appraisal ordering and enables home lenders to utilize technology to adhere to appraisal independence requirements put in place following the financial crisis. "The historic refinance wave that the mortgage industry is experiencing has put a significant strain on limited underwriting resources and created a massive bottleneck in the loan produc- tion process," Evolve Mortgage Services CEO Paul Anselmo said. "Evolve has made great strides in reducing the bottleneck through automation and by bifurcating the underwriting process and moving some functions to other skilled professionals in the process. The Veptas platform will enable us to automate QA and QC functions that had been performed by underwriters and accelerate loan production even more." MCTlive! Pool Optimizer Aimed at Secondary Marketing Managers NEW PRODUCT ALLOWS THE USE OF ACTUAL CASH WINDOW EXECUTION FOR OPTIMIZATION ON EACH INDIVIDUAL LOAN M ortgage Capital Trading Inc., a San Diego- based mortgage hedge advisory and secondary market- ing software firm, has rolled out the MCTlive! Pool Optimizer, which enables secondary mar- keting managers to use actual cash window execution for optimization on each individual loan rather than using a dealer survey for spec pay-ups. According to the company, the MCTlive! Pool Optimizer involves both the cash window commitment process as well as mortgage-backed securities (MBS) optimization, rather than solely MBS pooling or delivery, allowing for full pricing granularity specific to all available executions. The cloud-based, scalable technology infrastructure of MCTlive! sup- ports analysis of the millions of possible combinations at unprec- edented speed. Calculations are made on real-time spec pool pay- ups with MCT's API connectivity and sets a new standard when defining optimal pool allocations. "Depending on loan sale size, the tool looks at millions of itera- tions of execution options while doing the optimization process on a specified set of loans, creating a factorial to compute the optimal

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