MReport November 2022

TheMReport — News and strategies for the evolving mortgage marketplace.

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6 | M R EP O RT advisors to gain knowledge on reverse mortgages and offer more comprehensive advice to clients." Expanding TPO Options CLOUDVIRGA LAUNCHES NEW WHOLESALE TPO PLATFORM C loudvirga, a Stewart- owned company and fintech provider, has launched its new Wholesale Third-Party Origination (TPO) Platform. This product offer- ing was built in collaboration with mortgage professionals and brokers, providing them with a solution custom-built for their needs and operations. "Our new TPO offering is a game-changer for point-of-sale transactions, especially with brokers," said Maria Moskver, Cloudvirga President. "Before, brokers were very limited in what they could do in the TPO system. We built this platform because brokers should have options, and the technology they deserve to go along with those options, and our new TPO Platform does just that; it empowers the broker with a technology that speeds up the origination process, making choosing a lender that much easier." Acquired by Stewart in May 2021, Cloudvirga delivers intel- ligent POS platforms for both loan officers and consumers that automate operations traditionally performed in the back office to reduce mortgage origination costs, improve user experience, and increase business insight in the trillion-dollar home loan market. This newest TPO platform is the next evolution of a growing market requiring digital solutions for complex loan transactions that are fast and secure. Key features of the new TPO offering include: 24/7 borrower access to a broker-branded portal with a full suite of functionality for a seamless borrower experi- ence; allowing brokers to make real-time updates and changes; easier preparation, delivery, and e-signing of lender disclosures with automated compliance; and more e-verifications and borrower collaboration on an updated and easy to navigate user interface. "Since its inception in 2017, Cloudvirga has focused on creat- ing the best experience with the right tools for both borrowers and loan officers, and our TPO Platform is a continuation of this commitment," Moskver said. "Our team's sole focus is mortgage origination, and we will continue to develop and deliver the prod- ucts and tools our clients and the market are asking for." Defending Against Fraudsters PAYMINTS.IO INTEGRATES WITH FIRST AMERICAN TITLE'S PRISM PLATFORM P, a secure, digi- tal, white-label SaaS plat- form, has integrated with First American Title Insurance Company's PRISM digital plat- form for title agents. The PRISM platform combines automation and marketing tools and allows First American policy-issuing title agents to offer products and services directly to their customers via any computer or mobile device at any time. The integration with the PRISM platform enables both title and real estate agents to request and receive earnest money and cash-to-close funds from home buyers once a buyer esti- mate is prepared. By allowing title and real estate agents to trigger funding requests within the same platform, the PRISM platform helps enhance the efficiency of the settlement process. "With the continuous adoption of technology in our world, the natural progression of real estate transactions has also evolved to become more digital and secure. This progression includes the elimination of paper checks," said Perla Aparicio, VP of Strategic Partnerships at "In addition to helping to prevent wire fraud, the use of electronic disbursement shaves time and cost from the settlement process, which benefits borrowers, mort- gage lenders, real estate agents, and title and settlement profes- sionals.'s multipurpose ap- plication is designed to eliminate the need for paper checks and defend against wire fraud. The system not only collects earnest money deposits and cash for closing, but also offers an expan- sive vendor marketplace, featur- ing real estate agents, mortgage brokers, real estate attorneys, and other service providers who may be due funds or payment at clos- ing. A disbursement to all clients and vendors can be initiated within 60 seconds, eliminating the process of printing and mail- ing paper checks or the need for multiple phone calls to confirm routing and wiring instructions. "The integration of our innova- tive PRISM platform with pay- reflects our commitment to provide a more convenient real estate transaction experience for our title agents and the lenders, real estate agents, buyers and sell- ers they serve," said Kevin Wall, President of First American Title's Agent and Lender Group. Equity in an Instant BLEND ANNOUNCES INSTANT HOME EQUITY PRODUCT B lend, a provider of cloud banking software, has announced Instant Home Equity, an automated end-to- end digital home equity product for lenders. The comprehensive solution integrates income and identity verification, title, deci- sioning, property appraisal, and notarization to achieve unprec- edented time and cost savings. Lenders using the Blend Instant Home Equity product can pres- ent borrowers with a personal- ized offer that can be instantly approved and then closed in just a few days. Blend Instant Home Equity will integrate a number of recent enhancements to the company's mortgage suite, including Blend Income Verification and Blend's remote online notarization platform. It builds on previous home equity functionality that had already allowed existing staff to accommodate potentially more volume. "We are thrilled to introduce our revolutionary Instant Home Equity product into the mar- ketplace as we see more people staying in their homes and build- ing wealth," said Nima Ghamsari, MTECH "With the continuous adoption of technology in our world, the natural progression of real estate transactions has also evolved to become more digital and secure. This progression includes the elimination of paper checks." —Perla Aparicio, VP of Strategic Partnerships,

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