MReport December 2021

TheMReport — News and strategies for the evolving mortgage marketplace.

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6 | M R EP O RT Advances in RON technology and the eClose process allows borrowers the convenience of previewing and signing most closing documents from an internet-enabled device before meeting with a notary in person for identity verification and final document signing. RON allows for notary participation via live videoconferencing with the client who notarizes the documents virtually. "RON is still an emerging tech- nology, and many of the escrow companies are still learning the process," said Donn Costa, EVP of Home Lending for 1st Security Bank. "With the added conve- nience to our borrowers, less travel time, less paper, and fewer mistakes, I believe it will be the way we close most of our mort- gages in the near future." First American Data Adds Enhanced 3D Mapping Functionality ENHANCING ITS DATATREE SOLUTION, FIRM ENHANCES VISUALIZATION CAPABILITIES FOR 150 MILLION RESIDENTIAL PROPERTIES. F irst American Data & Analytics, a division of First American Financial Corporation, has added en- hanced 3D mapping functional- ity to DataTree, its real estate re- search solution. Users will have enhanced visualization capabili- ties for 150 million residential properties, geared toward real estate investors, builders, utility companies, surveyors, and more. "DataTree is the first real estate research site of its kind that can provide this level of visualiza- tion, as well as property and ownership detail needed to make sound investment, marketing and planning decisions," said Robert Karraa, President of First American Data & Analytics. "Ongoing enhancements, like our new 3D functionality, demon- strate our commitment to further DataTree's position as the indus- try's leading research platform for real estate insight." DataTree had provided a range of actionable information on properties, including owner's name, valuation, Assessor's Parcel Number (APN), parcel and plot lines, and flood zones, in addi- tion to detail on ownership, taxes, and liens. This new enhancement allows users to access 360-degree views of properties by tilting or rotating the satellite imagery to get a better understanding of the contours and elevation of the site's terrain. With the new functional- ity, DataTree users can search single or multiple properties; com- pare 2D and 3D views; select dif- ferent information overlays, such as parcel lines and flood zones; and use scaling, compass, and pin features for improved assessment of properties and the searches. DataTree is built on a database of property and homeowner in- formation and document images, encompassing 99% of U.S. housing stock, and including more than seven billion recorded document images. Guaranteed Rate Taps Reggora Platform for Appraisal Enhancement BY LEVERAGING NEW TECH, GUARANTEED RATE WILL PROVIDE INCREASED SUPPORT TO ITS APPRAISAL PROCESSING SYSTEMS. A ppraisal software provid- ers Reggora has an- nounced that Guaranteed Rate has selected its appraisal management technology to sup- port production of all loans re- quiring an appraisal. Proper Rate, a Guaranteed Rate Joint Venture, will implement Reggora's software to streamline its appraisal process, leveraging automation and system integrations to create a more user-friendly experience for their operations staff, loan officers, ap- praisal vendors, and borrowers. "Reggora shares our vision of creating the digital mortgage experience of the future, and we believe that Reggora will play a critical role in modernizing our appraisal operations," says Paul Anastos, CIO of Guaranteed Rate. "The improved efficiency, access, and ease of use will truly be a game changer for our production team and customers." The Reggora platform uti- lizes algorithmic appraisal ordering, configurable workflow automation, and integrations to deliver efficiency across the entire appraisal process. Guaranteed Rate will work with Reggora to integrate across its proprietary technology, allowing the customer and Guaranteed Rate staff visibil- ity to the appraisal throughout the lifecycle of the loan, ensuring the right people get the right informa- tion at the right time. "Guaranteed Rate holds its technology partners to the same standards that their industry- leading proprietary technology is held to, and we're proud to have passed their vetting and selection process," said Brian Zitin, CEO and Co-Founder of Reggora. "Building on the success we've achieved over time with our cur- rent customers, we're excited to see Reggora's innovative solutions reaching further as we create the future of modern appraisal." Essent Announces Launches EssentEDGE BORROWERS TO BENEFIT FROM NEW CLOUD-BASED MODELING TECHNIQUES. E ssent Guaranty has launched an upgrade to its risk-based pricing engine, EssentEDGE, an enhanced platform blending proprietary risk metrics and analytics with traditional credit factors to offer more refined pricing. "We continue to evolve and enhance EssentEDGE's tech- nology and credit analytics in quickly delivering MI pricing based on larger quantities of data to our customers," said Mark A. Casale, Chairman and CEO of Essent. "Through cloud-based machine learning, next generation EssentEDGE is innovating the way. We evaluate risk to deliver MI pricing and expanding access opportunities to mortgage credit for qualified borrowers." The next generation of EssentEDGE is available to Essent's lender partners via their Online Rate Finder tool, as well as most pricing engines and loan origination system interfaces. "RON is still an emerging technology, and many of the escrow companies are still learning the process." — Donn Costa, EVP of Home Lending, 1st Security Bank MTECH

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