TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/1481918
8 | M R EP O RT MTECH brid assignments at RemoteVal. net. Once they have signed up, they will be able to create job orders, complete virtual inspec- tions, and set their desired fees. "This is a perfect time for enterprising appraisers to take control of their destinies by offering these digital services," said Mark Walser, President of Incenter Appraisal Management. "In today's competitive environ- ment, mortgage lenders are seek- ing new ways to improve their responsiveness to borrowers, and many want appraisers who use these time-saving technologies. Those early adopters who can meet lenders' needs now will be well-positioned when the mort- gage market heats up again." The new self-managed option enables appraisers to save gas and travel time while still fully con- trolling virtual appraisal inspec- tions from their desks, with no need for third-party data. Looking remotely through an on-site contact's (realtor's or homeowner's) smartphone camera, appraisers can scan a property live; remotely capture geographically-verified, time-stamped photos and HD- quality videos for their work file; automatically generate detailed, highly accurate floor plans; and download photos and measure- ment data to import into their industry standard software. Applications for these self-serve capabilities include home equity lending, mortgage originations and refinancing, disaster inspections, 1004-Ds, and loan modifications/ foreclosures for applicable lending scenarios in both GSE and private lending. Accelerating the Digital Transformation AFR EXPANDS PARTNERSHIP WITH TAVANT T avant and American Fi- nancial Resources (AFR), a national mortgage lender, operating in the whole- sale, correspondent, and retail origination channels, have part- nered to enhance the lender's digital mortgage experience, end-to-end. Leveraging Tavant's Touchless Lending, AFR's cor- respondent lenders, mortgage brokers, loan originators, and consumers will now be able to automate the traditionally cumbersome lending process, providing a more streamlined and seamless experience for all stakeholders. Tavant's Touchless Documents instantly recognizes documents, automating document clas- sification, indexing, splitting, categorization/subcategorization, pairing with borrowers, and data extraction with the high- est accuracy. Additionally, the Touchless Lending platform integrates seamlessly with existing lender systems, including CRMs, Point-of-Sales, LOS, and document management systems, to optimize document-related workflows, organize and process documents faster, and deposit the results of the document classification and data extraction back into the system of record. "With the launch of FinDecision being so success- ful, adding Tavant's Touchless Documents into the mix seemed like the logical next step," said Scott Dubnoff, CTO at AFR. "And we were right. Their imple- mentation was a smooth and painless process. It took about six weeks to integrate Tavant's product into our systems fully. After one month of running Touchless Docs with real data, we determined their document classification accuracy greatly surpassed our expectations. We have only just started with this technology yet are already seeing returns in both labor efficiency and data accuracy. We have only scratched the surface with docu- ment classification and plan to expand to data extraction next. This opens even more possibili- ties for automation as we look to expand usage of the product to other areas of our process." Hassan Rashid, CRO at Tavant, added, "AFR and Tavant have aligned missions to make home- ownership more accessible for all and to provide several offerings that can support underserved communities in the housing market. While lenders have had to undergo lengthy processes in the past manually, Tavant now introduces a machine-oriented ap- proach that successfully increases workflow up to 80% by automat- ing and regulating the processes of loan application and disbursal." The Drive for Operational Efficiency EMM LOANS TAPS SIMPLENEXUS TO POWER THE DIGITAL EXPERIENCE S impleNexus, an nCino company, has announced that EMM Loans has chosen SimpleNexus' Nexus Engagement and Nexus Origination to power their electronic mortgage experience,