TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/1407257
8 | M R EP O RT MTECH "Home search is ripe for in- novation and implementation by lenders for securing more purchase business," said Ernie Graham, CEO of Homebot. "Homebot already achieves un- paralleled engagement rates across millions of homeowners. We're excited about how this acquisi- tion will help us deliver unique and valuable new experiences to homebuyers." Easing the Path to Homeownership CREDEVOLV LAUNCHES TO CLOSE THE GAPS IN CREDIT EQUITY F intech platform CredEvolv has launched to revolution- ize the path to achieving and maintaining good credit, of- fering a path to financial stability by breaking down the barriers to credit equity and guiding consumers seeking improved credit on a journey to sustainable, lifelong credit well-being. Through the acquisition of Get Credit Healthy—a platform focused on single loan fulfillment —CredEvolv shifts consumers to a strategy based on life-long credit wellness. Backed by the experience of Get Credit Healthy Founder Elizabeth Karwowski, and banking and mortgage in- dustry veterans, Jeff Walker and Steve Romano, CredEvolv assists credit-challenged customers on the path to homeownership. "Access to credit is a significant systemic social and economic problem; 1 in 10 Americans have no credit history and 26 million adults are 'credit invisible.' As a result, too many consumers struggle unnecessarily with dis- proportionate financial stress and too many lenders forego revenue and a critical opportunity to bet- ter serve their customers," said Jeff Walker, Co-Founder and CEO of CredEvolv. "CredEvolv was created to bridge that gap and offer a solution that not only puts consumers on a path to qualify for the initial loan they're seeking but sets them up for life-long credit health." CredEvolv offers end-to-end credit support for consumers, while helping lenders retain clients and drive incremental revenue. CredEvolv's proprietary plat- form helps lenders and servicers connect borrowers with HUD- certified, nonprofit counseling agencies to provide credit reme- diation and education, as well as debt management services. "Driving better outcomes for consumers doesn't have to be complicated or confusing," said Steve Romano, Co-Founder and President of CredEvolv. "With CredEvolv, we're marrying state- of-the-art financial technology with social responsibility to re- duce the psychological and finan- cial burden millions of individuals face and make it simple for them to get on a path to financial well- ness, while also creating increased value and ROI for our partners." CredEvolv leverages consumer permissioned data, proprietary analytics, and personalized credit coaching to guide the journey to credit well-being The cloud-based platform can scale to millions of transactions, while still provid- ing a customized experience for users CredEvolv also ensures a fair assessment and approval process for loan applicants, ensuring no customer is discriminated against in the loan process. Account Management Made Easy ADVANTAGE SYSTEMS UPDATES ITS APPROVALSOFT ACCOUNTING SOLUTION A dvantage Systems has an- nounced enhancements to its ApprovalSoft offering, which includes a new invoice splitting feature, as well as general updates to the system, improv- ing speed, documentation, and automation capabilities. Advantage Systems' principal update includes its invoice split- ting function. The newest feature allows the user to easily create separate "approvables" for each invoice within an invoice package. Previously, the accounting depart- ment was forced to manually print, and re-scan each approvable within an invoice package, which means the improvements to ApprovalSoft will now result in reduced stress, time and manual labor for mortgage accountants. "Our ApprovalSoft system— which can be easily integrated with various accounting or ERP systems, including our Accounting for Mortgage Bankers (AMB) solution—is designed to help companies manage vendor invoices and streamline internal approval processes," said Brian Lynch, President and Founder of Advantage Systems. "The ApprovalSoft system has now been updated to be better, faster, and more automated, with the addition of the invoice spitting feature, we are meeting the reality of how invoices are submitted to the Accounts Payable Department and making the entire process easier and more accurate." "Access to credit is a significant systemic social and economic problem; 1 in 10 Americans have no credit history and 26 million adults are 'credit invisible.'" —Jeff Walker, Co-Founder and CEO, CredEvolv.