TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/1481918
M R EP O RT | 5 MTECH efforts to empower residents across affordable housing com- munities and improve their financial well-being. Vesta and Esusu, a financial tech company, will offer rent re- porting as an amenity to residents at more than 30 properties across Vesta's housing portfolio. With looming economic uncertainty and inflationary pressures impact- ing residents' daily lives, renters living at a Vesta community will now have the opportunity to build their credit profile and improve their credit scores by having their timely rental pay- ments reported to the three major credit bureaus: Equifax, Experian, and TransUnion. Residents with positive rental payment history could see immediate results as the program looks back 24 months and with an average 50-point credit score increase for participat- ing residents. Vesta estimates that more than 6,000 residents may benefit from this new partnership. "Vesta cares about our residents and is committed to helping them build financial stability and im- prove their financial well-being," said Joshua Greenblatt, EVP of Vesta Corporation. "Partnering with Esusu enables us to empow- er residents to not only improve credit scores, but, more impor- tantly, help change their lives." An additional feature of the partnership allows residents at Vesta communities the opportu- nity to access zero percent interest rent relief microloans, which can help those who have defaulted on rent or are at-risk for missing a rental payment. Applying for needs-based, interest free loans provides renters with housing stability and financial flexibility to get through a hardship while avoiding the need to seek unat- tractive options offered through predatory lending practices. "Esusu welcomes Vesta com- munities onto our platform and is thrilled to bring our services to thousands of their residents," said Samir Goel, Co-Founder and Co-CEO at Esusu. "Vesta Corporation sees the win-win- win value proposition that can positively impact their renters' lives, improve their business model, and strengthen the com- munities in which they invest. We share in Vesta's enthusiasm in providing residents with this meaningful amenity and giving credit where credit is due." Enhancing the Digital Transformation FIRST AMERICAN LAUNCHES DIGITAL PLATFORM FOR TITLE AGENTS F irst American Title Insur- ance Company has an- nounced the launch of its PRISM digital platform, combin- ing automation and marketing tools, allowing First American policy-issuing title agents to offer valuable products and ser- vices directly to their customers via any computer or mobile device. In a transitioning mar- ket, title agents are looking for easy-to-implement, cost-effective digital platforms and tools that increase efficiency, strengthen customer engagement, and en- hance the real estate transaction experience. The PRISM platform automates the personalized quote deliv- ery and title ordering process, eliminating the need for lenders or real estate agents to call their title agent for a quote for title and settlement fees or to order the title. Through the PRISM platform, real estate agents can ac- cess co-branded or white-labelled seller net sheets, buyer estimates, refinance quotes, marketing mate- rials, and property reports, where permitted, that highlight the title agent's role, helping both the real estate agent and title agent estab- lish relationships with home buy- ers and sellers earlier in the real estate transaction and, ultimately, helping the title agent secure more title orders. "Our PRISM platform is an- other example of First American's leadership of the digital transfor- mation of title and settlement," said Kevin Wall, President of First American Title's Agent and Lender Group. "By leveraging innovative digital technology and the company's industry-leading public records data, the PRISM platform delivers a more effi- cient, more convenient real estate transaction experience for our title agents and the lenders, real estate agents, buyers, and sellers they serve." The PRISM platform also con- nects title agents to the following services available only from First American Title: Customizable marketing materials through Agent Print Pro; property data, including transaction history and current owner information; and policy rates and endorsement fees, local recording fees, and transfer taxes through First American's Comprehensive Calculator. "PRISM provides a branded digital platform that helps engage and support my lender and real estate agent customers as well as home buyers and sellers," said Chris Medina, Director of Sales at Navi Title Agency. "My custom- ers can easily order and edit fee quotes on the fly 24/7, helping my people spend more time on the closings they have in their queue." Customer Retention Made Easy OPTIFINOW RELEASES NEW CRM PLATFORM O ptifiNow has released OptifiNow TPO, a ready- made version of their sales and marketing platform designed for wholesale and TPO lenders. OptifiNow TPO includes an array of features that makes it easy for wholesale lenders to accelerate their sales and marketing process. "OptifiNow TPO is an out- of-the-box solution for whole- sale lenders," said John McGee, President of OptifiNow. "Our goal is to help wholesale lenders in- crease their visibility, smartly man- age sales processes, and increase loan volume per broker customer." OptifiNow TPO provides wholesale lenders with a CRM that works the way they work. The CRM enables efficient management of mortgage brokers "Partnering with Esusu enables us to empower residents to not only improve credit scores, but, more importantly, help change their lives." —Joshua Greenblatt, EVP of Vesta Corporation