MReport May 2022

TheMReport — News and strategies for the evolving mortgage marketplace.

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M R EP O RT | 9 held people back for far too long, it's time for us to all work together to make a change." "We commend for its generous gift and pledge to match donations made to the Homeownership Council of America's (HCA) Equity Down Payment Assistance Fund, which supports homebuyers of color and low to moderate income homebuyers," Chrane continued. "Now home shoppers who may be eligible for those funds will be able to discover them with the help of Down Payment Resource." Combating Mortgage Fraud FORMFREE AND TAKE3TECH PARTNER ON INCOME AND EMPLOYMENT VERIFICATION TOOL. F ormFree has announced a partnership with Take Three Technologies (Take3Tech) to make its AccountChek automated asset, income, and employment verification solutions available within LoanMAPS, an all-in-one loan origination platform. "We are proud to introduce AccountChek as a LoanMAPS integration partner. Our partner- ship enables lenders to provide a streamlined verification experience while reducing loan processing and underwriting times as well as fraud risk," Take3Tech CEO Anita Padilla-Fitzgerald said. "We look forward to helping lenders em- power consumers with the speed and convenience of electronic data verification." The integration enables LOs to text or email borrowers a request to electronically verify asset, income, and employment data without leaving LoanMAPS. Once borrower permission is granted, AccountChek uses securely encrypted, direct-source data to automatically populate underwriter-friendly verification of asset (VOA) and verification of income/employment (VOIE) reports, which are made available within LoanMAPS. "FormFree is on a mission to make it easy for mortgage lenders to assess borrowers' ability to pay mortgage loans using high-fidelity, direct-source consumer data," FormFree CEO and Founder Brent Chandler said. "It is a pleasure to partner with Take3Tech to make the benefits of AccountChek available to more mortgage lenders and consumers." Encompassing Title FIRST AMERICAN MORTGAGE SOLUTIONS ANNOUNCES FIRST-OF-ITS-KIND TITLE AND SETTLEMENT INTEGRA- TION WITH ICE MORTGAGE TECHNOLOGY'S NEW ENCOMPASS PLATFORM. F irst American Mortgage Solutions LLC, a part of the First American family of companies, announced a new integration with ICE Mortgage Technology™, part of Intercon- tinental Exchange, Inc., a global provider of data, technology, and market infrastructure. First American is the first title and settlement provider to offer auto- mated service ordering through ICE Mortgage Technology's En- compass® platform, enabling lend- ers to have a more streamlined, automated title and settlement ordering experience. The new integration enables a loan officer, loan processor, and First American's title representa- tive to communicate in real-time throughout the transaction, increasing efficiency and reducing time to close. Additionally, docu- ments are automatically placed in the appropriate order's e-folder, further reducing tasks for the loan processor throughout the title and settlement process. "Our enhanced title and settlement integration with the Encompass platform reflects First American's commitment to helping lenders close more high-quality, saleable loans faster, while opti- mizing workflow and delivering exceptional customer experiences," said Todd McGowan, Division President, First American Mortgage Solutions. "Beta users have con- firmed the integration provides an intuitive, seamless lender experi- ence and a streamlined workflow that increases efficiency." Swiveling for Transaction Ease SWBC LAUNCHES A NEW FINTECH COMPANY ENTITLED SWIVEL, FOCUSED ON IN- TEGRATED TRANSACTION ENABLEMENT. S WBC announced that SWBC Payments have be- come SWIVEL™ Transac- tions, LLC. SWIVEL will focus on its transaction-enablement platform used by more than 800 financial institutions across all 50 states to make it easy for account holders to execute transactions. The SWIVEL launch comes as demand for account-holder self- service and omnichannel commu- nication has exploded. Financial institutions are looking for ways to differentiate themselves with exceptional account-holder experiences, while also addressing increased risks associated with streamlining transaction process- ing and accelerating the availabil- ity of funds. SWIVEL is differentiated by its laser focus and deep understand- ing of the human element behind every transaction. SWIVEL's products and services make it easier for bor- rowers, account holders, and the financial institutions themselves to do business. SWIVEL technol- ogy provides versatile transaction enablement across account-holder touchpoints from facilitating new account funding to self-service loan payments to call-center- assisted transactions. Integration, reporting, risk mitigation, and fraud monitoring are all part of SWIVEL's offerings. According to Jason O'Brien, who will spearhead SWIVEL, the organization has grown transac- tion volume over the past five years through increased utilization across more channels and trans- action types as well as adding capabilities for new clients. "The rapid evolution of trans- actions in the digital domain over the past decade will con- tinue accelerating," O'Brien said. "Institutions had to take leaps to improve digital channels as a ser- vice to their account holders. Now all end-users—account holders and the employees providing services— have high expectations. SWIVEL's ultimate goal is to enable amazing transactions by building software that helps clients easily activate the necessary payment rails, integra- tions, user engagement features, MTECH "With technology impacting all areas of our lives, it is time for participants across the mortgage ecosystem to experience an improved process that simply works better and costs less." —Daniel Wallace, General Manager, Figure Lending

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