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MReport December 2022

TheMReport — News and strategies for the evolving mortgage marketplace.

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4 | M R EP O RT MTECH Cost-Effective AVMs ALTISOURCE LAUNCHES NEW NESTRANGE VALUATION PLATFORM A ltisource, an integrated service provider and marketplace for the real estate and mortgage industries, has launched NestRange as a cost-effective, data-informed Automated Valuation Model that estimates the value of residential properties. This SaaS product leverages a national property database, geospatial comparable data, machine learning, and artificial intelligence (AI) to help real estate professionals, inves- tors, and financial institutions make decisions with confidence. The NestRange AVM is an interactive tool that estimates the value of single-family homes, condominiums, townhomes, and multifamily/apartments. The service draws from a data set of more than 150 million proper- ties, including 750,000-plus active property listings. NestRange users have control over a variety of parameters, including valuation in- put variables, property conditions, and the ability to select specific comparables used in the AVM calculation. NestRange AVM also reports the NestRange Confidence Score, historical trends, detailed local market analysis, and the abil- ity to process AVMs in bulk. The NestRange Valuation API provides online integration and the ability to tap into vast data, and including the ability to get better insights into both distressed and non-distressed property valuations," said Israel Meir, Chief Strategy and Technology Officer. "We're proud to have created a SaaS product that is so uniquely customizable." The NestRange property AVM platform complements Altisource's RentRange rental AVM service that has been providing rental data to investors and financial institutions for over a decade. Engaging in the HELOC Process REVVIN RELEASES HELOC- READY WORKFLOWS R evvin, a low-code/no-code digital lending platform, has released a set of HELOC-specific workflows that make it easier for lenders to attract home equity line of credit (HELOC) applicants and gather the required information for delivery to the lender's LOS. The pre-built workflows can be deployed in a day or two and can be customized to the lender's specific requirements. "In the current market, home- owners can no longer afford to take equity out of their homes by refinancing, so demand for HELOCs is ramping up," Revvin CEO Valentin Saportas said. "After a number of lenders ap- proached us for pre-built HELOC workflows, we created the offer- ing we're rolling out to all lenders today. Revvin has always offered lenders the capability to create their own custom workflows, but speed is of the essence too." Revvin built its reputation for accelerating time-to-delivery with its pre-defined templates and cus- tomized journeys, allowing lend- ers to originate digital mortgages or any kind of loan profitably right out of the box. The new Blazing New Digital Paths The following companies are helping chart the course for advancements in the pursuit of an all-digital process.

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