TheMReport — News and strategies for the evolving mortgage marketplace.
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Th e M Rep o RT | 9 mtech THE INDUSTRY LEADER IN eCLOSE TECHNOLOGY. With our iSignroom TM and eSignPad TM technology, it has never been easier to electronically close your transaction anywhere, anytime! One of 5 national eClose providers selected to be part of the CFPB's eClose Pilot Program BE FULLY COMPLIANT WITH AUGUST, 2015 CHANGES TODAY! When you want the ultimate closing experience, think eClose, and think PeirsonPatterson, LLP JASON L. WRIGHT PEIRSONPATTERSON, LLP JASON.WRIGHT@PEIRSONLAW.COM 972.392.7770 ISIGNROOM.COM many closings happen in 15 minutes or less, with some happening in five minutes. All along the way, the platform logs every action so the lender and settlement agent have full audit trails available to them. "Our participation in the CFPB eClosing Pilot program gave us a great opportunity to further battle-test our solutions and improve how the technology aids consumers and businesses with the closing process—some- thing that's been broken for decades," McElroy explained. Pavaso's consumer-support capability extends beyond loan closing and beyond its eNote and eVault functionality. For example, once closing is completed, consumers have permanent access to their documents on Pavaso and can take advantage of the platform's apps to keep them engaged throughout their homeowner- ship lifecycle. The added capability of its "My Team" feature connects the lender, settlement agent, and real estate agent with the consumer after completing the closing. Investors are able to securitize loans by utilizing Pavaso's Mortgage DNA, which allows them to find loans at funding that match their exact needs with full confidence in the accuracy and completeness of each individual loan. "By offering a means for collaboration, improved consumer experience, closing process control, and enabling businesses to align with the CFPB's mission and values, Pavaso's solutions evolve the home buying process from end to end," said McElroy. "There are several options for businesses to join Pavaso. Small businesses or branches have the ability to start using the platform in just weeks, and Pavaso also provides a comprehensive strategy for anyone looking to overhaul the way they do business so they can meet consumer demands in a tech-driven market." "This isn't just about TRID's go-live," McElroy added. "It's about providing the industry with a clear path to evolving and catching up with consumer technology." Altisource Acquires RentRange & Investability The acquisiTions will expand alTisource's capabiliTies in providing invesTors deTailed properTy and pricing informaTion. A ltisource Portfolio Solutions, a provider of mortgage, financial, and technology services for the real estate and mortgage industries, expanded its offerings into the home rental market with two new acquisitions. In an announcement in mid-October, the company revealed it acquired both RentRange and Investability, which will substantially expand its offerings, reach, and data capabili- ties in the real estate services market. "These acquisitions squarely support our real estate and mortgage marketplace strategy and enable us to provide valuable analytics to the home rental, renovation, sale and origination markets," said William B. Shepro, CEO of Altisource. Walter Charnoff, CEO of Investability and Rent Range, said the deal has been in the works for a few months. "Altisource has been a longtime customer," Charnoff said in an exclusive interview with MReport at the Five Star Institute's inaugural Single-Family Rental Summit in Las Vegas in October. "We've talked to them strategically about some of the things we were doing. At a time they were looking to make some bigger moves into the space, we were looking to further capitalize the business, so it was a great fit." RentRange provides rental home data and information to the financial services and real estate industries, delivering a wide assortment of address and geography level data, analytics, and rent-based valuation solutions for single- and multi-family properties. Investability is an online residential real estate search and acquisition platform that utilizes data and analytics to allow real estate investors to access the estimated cash flow, capitalization rate, net yield, and market value on properties for sale in the United States. "They are two terrific companies that have a lot of synergies that I think will expand single-family rental as it evolving into an asset class," said Phil Comeau, an advisory board member with both Investability and Rent Range, in an interview with MReport. "Altisource brings a forward-looking approach to the real estate marketplace that we're very excited to join," Charnoff said. "Our vision has always been to develop the most comprehensive residential property rental data repository in the country, along with a powerful and unique search and transaction engine for rental homes. Together with Altisource, we will quickly realize this vision in a much broader and more impactful way." The new acquisitions will add to Altisource's real estate capabilities by providing customers with highly accurate pricing information about rental home investments and access to valuable investment property inventory. This will include users of its Hubzu and Owners.com online real estate sales and auction platforms. "The acquisition itself is indicative of big players in the industry seeing the opportunity in the space and being willing to make big