The Psychology Behind the Recovery

TheMReport — News and strategies for the evolving mortgage marketplace.

Issue link:

Contents of this Issue


Page 10 of 67

Th e M Rep o RT | 9 With the enhancements, DataQuick hopes to improve valu- ation accuracy and increase the likelihood that an automated valu- ation will fall within 10 percent of a property's actual sales price. "Our analytics team has boosted the accuracy in each of these models in order to provide the most precise property valuations possible," said company president John Walsh. "What sets CMV-Portfolio apart is its stable estimate based on multiple data methodologies and an interpretable confidence score which can be easily embedded into risk models." LendingQB Gets Lean The California-based Company CreaTes a sysTem To reduCe The CosT of originaTion. L endingQB, a California- based loan origination software (LOS) provider, has unveiled its "Lean Lending" model designed to reduced origination costs by as much as half. Using the model, lenders receive guidance on streamlining processes or eliminating functions, ensuring compliance issues early in the process, and driving con- tinuous improvement with staff reviews and re-training. "It can take up to 3 years for lenders to understand a new LOS platform and create the best practices to take advantage of new technology," said LendingQB president Binh Dang. "LendingQB can shorten the learning curve to just 6 months by providing a lean set of best practices." In keeping with its Lean Lending strategy, LendingQB also announced the release of the Qualified Mortgage (QM) functionality within its platform. The new functionality checks the limits on loan features, automatically checks for caps on points and fees, and verifies test performances and calculation results for underwriting requirements, allowing for easy compliance with the Consumer Financial Protection Bureau's (CFPB) new guidelines. WEB AT WORK Broker U rio sofTware soluTions opens a free online 'broker sChool' for The indusTry. R IO Software Solutions, the parent company of RIO Genesis Software system, unveiled a new free online education series called "Broker School." "We really believe that the agents and brokers who use our software are our partners. Therefore we feel that it is our responsibility to help them in ev- ery way that we can," said RIO Genesis CEO Michael Krein, who described his vision for the school, as "everything that you need to know-but no one else will teach you." Designed to address the lack of quality, affordable training for broker/owners in the industry, Broker School offers a complete series of lessons on how to open, grow, and manage a profitable real estate office, with topics ranging from basic operational fundamentals to lead management and agent recruitment. The entire series is offered free of charge, regardless of whether or not participants use any of the RIO Genesis software solutions. "In the past, the only true 'Broker/Owner' training and sup- port that has been provided was typically from the major franchis- es and/or from expensive private coaching organizations," the company said in a release. "Many Broker/Owners today don't want to be part of a franchise and in this market simply can't afford to spend $1,000 or more per month on private coaching. RIO Genesis will be providing this type of training completely free and with no obligation." on the web

Articles in this issue

Archives of this issue

view archives of TheMReport - The Psychology Behind the Recovery