TheMReport — News and strategies for the evolving mortgage marketplace.
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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 12 August 2023 M T E C H needed documents, interact with origina- tors, select loan terms, and draw amounts. In parallel, the portal's backend is framed into Encompass, so loan originators never leave their LOS and are rewarded with a consistent process and streamlined functionality including title decisioning via the lenders' business rules and a credit decision that leverages EPPS and Encom- pass' Dynamic Data Management (DDM) to deliver findings in minutes. » Order Management: Automated work- flows, including triggers, enable the order- ing of settlement services such as flood, title, valuation, and more. » Closing: An option to support hybrid clos- ings and recordings that are compliant with state regulations and lender guidelines. "Our best-of-breed technology dramati- cally accelerates decision-making and con- nects lenders to a broad network of preferred providers with one contract, one bill, and one support team," said Craig Austin, EVP at FirstClose. "Lenders currently originating home equity products can onboard in as fast as 30 days; while new entrants can onboard in as fast as 60 days enabling lenders to pivot and capitalize on the current market which is a bright spot for our industry." CORELOGIC RESTRUCTURES DATA ACCESS, INSIGHTS FOR MORTGAGE LENDERS C oreLogic has announced an enhancement to the CoreLogic Dis- covery Platform. The cloud-based platform is known for its innovative data exchange, property analytics, and integration with major cloud and tech providers. With the recent enhancement, the plat- form now offers predesigned solutions that assist mortgage lenders with turning data into valuable insights. This update allows for faster decision-making and improved business outcomes, providing clients with immediate access to actionable insights. The "click-to-insight" capability highlights a commitment to usability and efficiency for lenders' data-guided decision-making journey. "Discovery Platform was designed to be an industry-leading, unified solution that combines best-in-class data, enhanced analytics, and cross-functional collaboration capabilities to help enterprises understand, improve, and grow their business," said Devi Mateti, President, Enterprise Digital Solutions Group, CoreLogic. "A year later, we are proud to continue evolving this trans- formative technology for more mortgage lenders, including those without access to data scientists, to enable them to compete more effectively in today's challenging mar- ketplace," continued Mateti. Prebuilt solutions within the CoreLogic Discovery Platform include: » Market Share: Empowers lenders to assess their market share at a granular level, in- cluding geography and loan type, to know who their key competitors are. » Prospect Marketing: Helps lenders opti- mize their marketing efforts by establish- ing specific "buy box" criteria. This allows them to focus on potential borrowers most likely to be in the market for a loan. » Lost Leads & Payoff: Allows lenders to track their portfolio runoff and identify which competitors won their lost leads to improve their competitive positioning. » Collateral Risk: Allows lenders to detect loans and regions with the highest risk of default, leveraging home price forecasts and identification of "underwater" loans. » Affordable Housing: Helps lenders iden- tify low-to-moderate income census tracts and compare their performance to the top lenders and loan officers in that area. » Climate Risk: Delivers powerful cli- mate-based insights by market and within a lender's portfolio. RENTREDI ADDS CUSTOMIZATION FEATURES TO PROPERTY MANAGEMENT SOFTWARE L andlords and property managers are now able to customize their pre-qual- ification and rental application processes to find the most qualified tenants, as RentRedi has added new customization features to its cloud-based property man- agement software, further easing the rental process for both landlords and renters. "Discovery Platform was designed to be an industry- leading, unified solution that combines best-in-class data, enhanced analytics, and cross- functional collaboration capabilities to help enterprises understand, improve, and grow their business." —Devi Mateti, President, Enterprise Digital Solutions Group, CoreLogic