TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/1484258
M R EP O RT | 7 MTECH Head of Blend. "Leveraging all that we've built on the Blend platform—for both Mortgage and Consumer Banking solutions—we're able to deliver an instant home equity experience to help our customers ensure a seamless experience for applicants, grow their home equity businesses, and reduce costs to originate in a challenging marketplace." Blend Instant Home Equity is the latest innovation to help lenders rapidly adapt their businesses in line with shifting consumer expectations and the broader mortgage market. Despite recent down- turns in the mortgage origination market, Americans' tappable home equity surged in Q1 of 2022 to an all-time-record $27.8 trillion. Heeding QC Requirements INDECOMM LAUNCHES NEXTGEN AUDIT TOOL I ndecomm, a provider of lending au- tomation and mortgage services, has launched the next-generation version of its loan quality control technology, AuditGenius. The upgraded version leverages the company's "Genius" tech stack, an interconnected and propri- etary blend of technology, to help AuditGenius users to meet exceedingly stringent QC requirements while sig- nificantly reducing the need for exces- sive manual reviews and re-reviews. AuditGenius helps lenders efficiently manage unlimited QC workflows and boasts an estimated 75,000 users with more than 200 active loan reviews and audits. With the addition of Indecomm's Genius tech stack, the next-generation AuditGenius promises an estimated 50% reduction in manual processes and time spent on loan audits in the pre-fund QA stage. The solution comes at a time when repurchase risk is on the rise and loan quality is under a microscope. "In the current mortgage market, lenders want to increase quality con- trol without increasing the number of resources," Indecomm SVP of Product Management Rachael Harris said. "By incorporating this foundational technol- ogy into AuditGenius, Indecomm enables meticulous, in-depth pre-fund loan audits at scale, proactively capturing defects in the data and documents that may other- wise result in repurchase risk." AuditGenius adheres to investor requirements and drastically reduces heavy-touch, redundant, and manual Anywhere. Anytime. MReport Digital Experts you trust. People you know. News you want. MReport is putting essential mortgage market news at your fingertips with our new digital edition, now available online via your smartphone, tablet, or computer. Enjoy the magazine at your desk, and tap into MReport Digital's easily accessible platform anywhere, anytime. Committed to giving originators, servicers, and all lending professionals access to smarter perspectives, MReport believes it's time to think differently about the mortgage industry. Because the American Dream is evolving . . . are you? Subscribe to MReport and MReport Digital now! Call 800.856.8060 or connect with us online at themreport.com to take advantage of our special introductory offer! digital.themreport.com powered by THEFIVESTARINSTITUTE Bringing Today's Lending Headlines into Focus, MReport Digital Puts Mortgage Banking News at Your Fingertips