TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/1491913
8 | M R EP O RT MTECH to offer such products. It allows companies like Opendoor to stay focused on what they do best, while adding a new product that lives up to their brand promise and expand their reach." Quality Control Enhancement REVOLUTION MORTGAGE PARTNERS WITH TAVANT T avant, a Silicon Valley-based provider of digital lending solutions, and Revolution Mortgage, a nationwide residential mortgage lender, have announced they have partnered to integrate Revolution's digital mortgage ex- perience with Tavant's Touchless Lending platform. This partner- ship will feature an end-to-end implementation of Touchless Lending Automation, starting with Decision Analysis, followed by Document, Credit, and Col- lateral Analyses in early 2023. "As we get closer and closer to launch, it is clear to us that Decision Analysis is more than just a tool for underwriters and quality control. We see Touchless Lending as a way to get to market faster with a competitive ad- vantage and work efficiently in the market as conditions fluctu- ate," said Tony Grothouse, CEO at Revolution Mortgage. "We have aggressive growth plans for Revolution for 2023, and this technology is exactly the type of infrastructure and efficiency we need in place to expand and deliver quality assets into the secondary market." Touchless Lending Decision Analysis will allow Revolution Mortgage to automate and stream- line its underwriting and applica- tion processes, thereby improving the lender's overall borrower experience. This intuitive product allows lenders to optimize loan origination and processing by reviewing Multi-AUS (Automated Underwriting Systems) responses and comparing them with loan-specific data and investor guidelines to generate multiple op- tions to improve operational effi- ciency, including optimizing costs and decreasing processing times, among other potential avenues. Decision Analysis can integrate with any lender ecosystem and delivers a frictionless origination experience in the mortgage un- derwriting process for borrowers, loan officers, underwriters, and capital market teams. "Lending transactions, especially in the residential mortgage space, don't just take place between bor- rowers and lenders. Rather, there are several other parties in the mix," said Mohammad Rashid, Head of Fintech Innovation at Tavant. "Therefore, more than simply having one source of truth—one lending interface for both the lender and borrower— is needed to make any digital lending platform out there in the market its true-to-word digitized and automatized self. We are confident that Touchless Lending is that truth and investing in the whole platform will render the most optimal results, and once we finish deploying Document, Credit, and Collateral for Revolution Mortgage, our partner- ship will prove just that." Automating the Title Process WFG EXTENDS ITS COMMITMENT TO RESWARE Q ualia has reached an agreement with WFG National Title Insurance Company (WFG), a full-service provider of title insurance and real estate settlement services for commercial and residential transactions nationwide, to extend WFG's commitment to Resware, part of the Qualia suite of products. The additional multiyear term is part of WFG's commitment to de- veloping technology-driven solutions for its employees and customers.