TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/1490083
M R EP O RT | 9 MTECH Unlocking HELOC Options MOVEMENT MORTGAGE ADVANCES HELOC DELIVERY F igure, a non-bank HELOC lender, and Movement Mortgage, the nation's sixth- largest retail mortgage lender, has announced a transformative partnership that will allow Move- ment's borrowers faster access to home equity with approval in as few as five minutes and funding in as few as five days. Movement will leverage Figure's platform amid a steady rise in mortgage interest rates and record tappable equity for homeowners. Consumers have shied away from taking out new mortgages and in- stead are seeking to tap into their existing home equity to complete renovations, consolidate debt, or generate extra cash flow while pre- serving their low mortgage interest rate. The partnership is designed to help Movement Mortgage bor- rowers access that value quickly and simply through Figure's end- to-end digital platform. "Movement Mortgage is deliver- ing enhanced financial access to their consumers as interest rates steadily rise," said Dan Wallace, General Manager of Figure Lending. "We are thrilled to part- ner with them as they continue to act as industry disruptors and implement processes that benefit their consumers. HELOCs may be significantly less expensive compared to other products, and consumers are seeking better avenues to access the equity in their homes." Caroline Payne, Movement's SVP of capital markets "We are thrilled to partner with Figure to provide our borrowers with easy access to the equity they've built," said Caroline Payne, Movement's SVP of Capital Markets. "Figure's seamless user experience, commitment to qual- ity, and superior customer service align with Movement's values and business goals. We look forward to working with Figure to help our borrowers reach their goals." Figure's HELOC for Lending Partners provides a turnkey solu- tion for lenders across the country. The speedy underwriting process provides a secure, transparent, and fast experience—eliminating friction points and costs common to traditional home equity lending. Partners can offer their customers a fast and easy way to tap home equity with a 100% online applica- tion process and funding in as few as five days. Movement Mortgage and Figure will leverage Provenance Blockchain to record and store the lending asset. Provenance Blockchain is a public blockchain in financial services leveraged by more than 50 financial institu- tions, and has supported more than $10 billion in transactions. Cultivating LO Social Outreach NEXT LEVEL LOAN OFFICERS EXPANDS THE LO COMMUNITY N ext Level Loan Officers, a coaching community for Loan Officers, has launched the mortgage indus- try's first social platform called Next Level Community. This one-of-a-kind community con- nects loan officers to a vast network of originators, delivers market updates and rate alerts, equips users with marketing tools, and provides exclusive ac- cess to industry-leading resourc- es, all for less than a monthly Netflix subscription. "This is no longer our father's mortgage industry, so it's vital that we leverage technology to the fullest," said Kellen Vaughan, Co-Founder of Next Level Loan Officers. "Our future is in the Next Level Community where we can collectively overcome chal- lenges and achieve success." The Next Level Community is the only exclusive social platform where loan officers collabo- rate and discuss best practices. Platform features include: » Private feed to network with mortgage professionals » Exclusive discounts on indus- try-leading mortgage tools » Private engagement and ac- countability groups » Agency and market updates » Up-to-the-minute rate alerts » Mobile app for one-touch access » Push notifications » Access to in-person Next Level events » Calendar integration with Outlook, G Suite, and Zoom "Integration of this new tech- nology can help the more than 300,000 loan officers in the U.S. leverage the best knowledge and resources available to achieve great results," added Vaughan. According to Next Level Loan Officers, members of its coach- ing community have a proven increase in sales volume by an average of 110% within the first 12 months of their membership, all on their own terms. "The Next Level Community is an ecosystem of collabora- tion, information and resources that will provide more value to the future of this industry than ever before," said David Luna, President of Mortgage Educators and Compliance. Easing the Appraisal Process APPRAISALWORKS AND CLEAR CAPITAL PARTNER TO STREAMLINE VALUATIONS A ppraisalWorks, a real estate appraisal technology provider, has announced a partnership with Clear Capital, a national real estate valuation technology company. This partner- ship will make it easier for banks, credit unions, loan servicers, and mortgage lenders to order, review, manage, maintain, and analyze real estate appraisals and collateral valuations. Mutual customers will have access to an array of Clear Capital's reliable residential property valuation, data collection, and ap- praisal review reports through the AppraisalWorks platform. AppraisalWorks is the first partner to leverage Clear Capital's Property Valuation Application Programming Interface (API), an all-in-one solu- tion that integrates seamlessly with order management systems. "We are thrilled to have our Property Valuation API integrated with AppraisalWorks and to expand our partnership with their software," said Rhonda Johnson, Senior Channel Partner Manager for Clear Capital. "AppraisalWorks enables lenders and investors to track their property valua- tion orders throughout the order management process and provides real-time status updates from order creation through comple- tion. In pairing their intuitive, intelligent appraisal management solution with our highly efficient appraisal experience, we'll be able to offer our collective stakehold- ers a game-changing competitive advantage." AppraisalWorks' customers will have access to new valua- tion products and solutions that are added to the Government Sponsored Enterprise (GSE) sell- ing guides in a timely manner, "This is no longer our father's mortgage industry, so it's vital that we leverage technology to the fullest." —Kellen Vaughan, Co-Founder, Next Level Loan Officers