MReport November 2022

TheMReport — News and strategies for the evolving mortgage marketplace.

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M R EP O RT | 5 MTECH reimagine the experience of iden- tifying credit potential, generating improvement plans and tracking applicant progress while adding a core suite of enterprise manage- ment tools." CreditXpert's new platform can help lenders in four ways, by eas- ily seeing the credit potential for every applicant; boosting efficien- cy with powerful AI that high- lights underwriting blockers and identifies changes between credit pulls that may have contributed to a change in an applicant's credit score; sharing improvement plans with applicants and automatically tracking their progress; and man- aging users, groups, and branches through a single dashboard. Enriching Industry Recruitment BIG PURPLE DOT PARTNERS WITH CORELOGIC ON RECRUITMENT PLATFORM B ig Purple Dot, a provider of an ecosystem of mortgage marketing technologies, has tapped CoreLogic to launch a mortgage recruiting platform that provides detailed production data on loan originators (LOs) and a customer relationship manage- ment (CRM) service to help lenders in their recruiting efforts. The platform will be powered by CoreLogic data. "Our new product performs a deep dive into each loan origina- tor's production metrics, providing unrivaled mortgage insight and technology to help loan origina- tors not only hire but to also ef- fectively forecast and operate their business," Big Purple Dot CEO Roxana Davidoff said. Using the most current and ac- curate data, and analytics per loan officer available in the industry, supplied by CoreLogic, and the framework of Big Purple Dot's lead management and CRM sys- tem, the new recruiting platform enables the mortgage industry to analyze a loan officer's, lender's, and broker's loan production volume, loan type, number of loans generated, and smartly reach out to them with technology tools such as video messaging, SMS and automated marketing, at scale, to engage top talent through all stages of the hiring process. The new platform also includes built- in contact information, including the originator's email address, cell phone number, and physical address. "When it comes to mortgage CRM technology, Big Purple Dot is at the forefront," Brian Battaglia, Executive, Property Intelligence at CoreLogic said. "Given Big Purple Dot's unique position as a mort- gage CRM leader, this strategic alignment is an excellent opportu- nity to help loan originators make better choices when hiring LOs." Big Purple Dot President and CTO Aldo Sarmiento added, "In today's challenging market, lenders need to know more loan produc- tion details when hiring prospects to ensure they will excel. This new recruiting platform gives lenders everything they need to know." Spreading the Word on Reverse FINANCE OF AMERICA REVERSE AND MORNINGSTAR PARTNER ON EDUCATION F inance of America Reverse (FAR) has announced an agreement with Morning- star, a provider of independent investment research, to become its first reverse mortgage educa- tion provider. FAR's educa- tional tools, which show how to stabilize a retirement plan with home equity, will become avail- able to 150,000 financial advisors nationwide through Morningstar Advisor Workstation, a web- based investment and financial planning system. The aim is to equip financial advisors with timely information and tools needed to navigate the breadth of home equity options available to their clients ages 55 and older. With FAR, financial advi- sors will learn about the unique benefits of a reverse mortgage and FAR's other home equity prod- ucts. This will help them better understand how to practically uti- lize the products in their client's plans, especially in the case of mass affluent clients [who typical- ly have assets under management less than $2.5 million]. Through this agreement, advisors have ac- cess to important resources to talk to their clients about the benefits of supplementing their retirement plans with home equity. "Financial advisors play a criti- cal role in helping people plan for their retirement. Teaming with Morningstar will ensure that more advisors are educated about home equity solutions as they create a diverse and long-term financial strategy for their clients," FAR President Kristen Sieffert said. "This relationship builds on FAR's pursuit of a strong connection to the financial advisor community where we can deepen conversa- tions about home equity as an avenue for people to reach their goals in retirement. The need for flexible, customizable retirement solutions is urgent, and work- ing alongside advisors to deliver these vital planning resources to more aging Americans remains our highest priority. I couldn't be prouder of the work our team is doing to empower people to un- derstand how their home wealth allows them to envision the pos- sibilities of retirement." FAR's education within Morningstar Advisor Workstation helps fill a significant gap between financial advisors' guidance and consumers' expectations. "We're excited to welcome FAR as a reverse mortgage lending educator in Morningstar Advisor Workstation as we expand the breadth of solutions offered within our platform," said Kevin Reed, Head of Strategic Platform Partnerships with Morningstar. "We continue to see a shift to- ward clients looking for financial advisors to provide advice across the balance sheet. For many retirees, their home is their most valuable asset, and it deserves to be considered as part of a holistic financial plan. We believe that of- fering access to information about FAR's range of home equity prod- ucts within Morningstar Advisor Workstation will enable financial "In today's challenging market, lenders need to know more loan production details when hiring prospects to ensure they will excel." —Aldo Sarmiento, President and CTO, Big Purple Dot

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