MReport September 2021

TheMReport — News and strategies for the evolving mortgage marketplace.

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M R EP O RT | 5 MTECH market today is all about better serving the home buyer or owner with easy-to-navigate bundled real estate services that simplify a complex and stressful transaction. While others have approached this from the real estate side, we'll use the power and scale of our industry-leading position to drive the type of value and ease for our customers that most of our competitors simply cannot touch." Through mellohome, loanDepot connects customers with a network of more than 4,000 real estate professionals. Title services are available in 44 states through American Coast Title and Closing USA, both LDI companies, while home insurance services provided exclusively by loanDepot's agent partner are also available. "At the end of the day, all of us are consumers too," Hsieh said. "And because of this, we remain laser focused on serving our customers when, where, and how they wish to be served. The beauty of the loanDepot Grand Slam is that we're giving customers a sleek, streamlined way to manage all of the details that come with one of the most important financial transactions of their lives." Accelerating Loan Manufacturing Via AI TAVANT LAUNCHES DISRUPTIVE NEW PLATFORM T avant has announced the availability of its new Touchless Lending platform, an AI-powered lending-as-a-service platform that maximizes the use of data- driven processes to provide an end-to-end loan manufacturing experience. Touchless Lending's first product line is mortgage- centric and designed to address key pain points within the mortgage industry, by reducing lengthy origination cycles and removing unnecessary touchpoints, enabling lenders to originate mortgages faster, while also reducing costs. "Now, more than ever, companies are hungry for more robust data. They want to make better decisions and automate routine processes to become more efficient, reduce errors, and lower costs," said Sarvesh Mahesh, CEO of Tavant. "Data is the key to making those happen, and Touchless Lending is the tool lenders need to make the best uses of their data." Mohammad Rashid, Head of Tavant's Fintech Practice, said, "The mortgage industry is still not meeting borrower expectations. On average, mortgages are taking 51 days to close, which is unacceptably slow in our on-demand world. Underwriters and processors do not have the tools they need to get the job done efficiently and effectively. Touchless Lending focuses on these overlooked middle and back-office associates, now enabling them to make a clear-to-close decision in as little as five days, handle five times as many mortgages at once and reduce processing and underwriting costs by over 75% per mortgage." A One-Stop Valuation Solution VALUELINK ANNOUNCES PARTNERSHIP WITH CLEAR CAPITAL V alueLink Software has partnered with Clear Capital to enable its us- ers to order Clear Capital's suite of valuation products, including hybrid and desktop products. The integration with Clear Capital's suite of valuation prod- ucts gives ValueLink customers the flexibility to offer tailored solutions to their clients. "Partnering with Clear Capital enables us to cater to the evolving needs of the mortgage industry by offering a one-stop solution to order and manage traditional and nontraditional valuation products that reduce time, cost, and risk for our customers," said Farrukh Omar, COO at ValueLink Software. Clear Capital's innovative technology and suite of data- driven products aim to solve the real estate and mortgage industry's most pressing challenges. "Clear Capital is committed to removing friction and reducing turn time from the appraisal pro- cess through delivering modern solutions within the lenders' eco- system," said Kenon Chen, EVP of Corporate Strategy for Clear Capital. "Our integration with ValueLink allows us to continue to deliver on this commitment." Clear Capital also recently announced a partnership with Recursion, a provider of analytic data tools, to produce accurate valuation models and solutions. Through Recursion's mortgage big data intelligence, Clear Capital could introduce more accurate and timely property valuation solutions into the marketplace. Streamlining Pricing Accuracy BLACK KNIGHT STREAMLINES PRICING AND DATA SYNCHRONIZATION B lack Knight Inc. has announced the integra- tion of its Optimal Blue product, pricing, and eligibility engine (Optimal Blue PPE) and the Black Knight Empower loan origination system (LOS). As part of integrating the PPE and LOS, Black Knight has added a Pipeline Monitoring feature that synchronizes data between the two systems. Through this in- tegration and new functionality, clients leveraging both systems can streamline pricing and achieve greater pricing accuracy. "This integration of two pre- mier solutions is a testament to Black Knight's ongoing commit- ment to deliver greater transpar- ency, accuracy, and efficiency to the origination process," said Scott Happ, President of Black Knight's Secondary Marketing Technologies group. "In a time of increased competition for fewer borrowers, the complementary Pipeline Monitoring feature can help lenders compete more ef- fectively and capitalize quickly on market opportunities." Black Knight's new Pipeline Monitoring feature can help lower risk and reduce manual "The mortgage industry is still not meeting borrower expectations. On average, mortgages are taking 51 days to close, which is unacceptably slow in our on-demand world. —Mohammad Rashid, Head of Fintech Practice, Tavant

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