TheMReport — News and strategies for the evolving mortgage marketplace.
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TH E M R EP O RT | 3 CO NTE NTS 12 THREAT ASSESSMENT Scammers are constantly looking for ways to obtain your company's data—learn from the experts the top five ways data compromises occur and how to protect yourself against them. 18 APPRAISING THE APPRAISAL Lenders in the nation's hottest markets are waiting longer for completed reports, may have limited visibility into appraisal fees, and have problems committing to closing schedules. See how data is addressing these issues. 22 RAISING THE STANDARDS OF SUCCESS The CECL is bringing fair value into the ALLL. Learn how the standards are impacting the financial industry—and how you can make sure you implement them smoothly. 26 THE RISE OF MERS Forging Ahead Through Forward-Thinking Having navigated the legal system, a majority investment, and making it through the 2008 foreclosure crisis, the executives at MERSCORP are experienced, ahead of the game, and ready to share their knowledge. SPECIAL SECTION 29 DATA AND ANALYTICS SERVICE PROVIDERS These data and analytics leaders are helping lenders, servicers, and other mortgage professionals predict and model consumer behavior, mitigate risks, and better serve their buyers. DEPARTMENTS 4 MTECH Rest Assured: Whether they are streaming the origination process or making sure data is verified, these tech solution providers will allow you to sleep easier at night. 7 MDWELL City Growth Both Sides of the Coin: A look at the top and bottom five fastest-growing cities in the U.S. 8 TAKE 5: WOMEN IN HOUSING EDITION Spotlighting the Women of Freddie Mac Gina Healy, VP, Single-Family Credit Risk Transfer 10 MCROWD Who's moving on and who's moving up in the industry TH E M R EP O RT | 33 DATA AND ANALYTICS SERVICE PROVIDERS SPECIAL ADVERTISING SECTION // DATA AND ANALYTICS SERVICE PROVIDERS Collateral Analytics KEY PERSONNEL Michael Sklarz, Ph.D. Chairman and CEO Bob Raffa Vice Chairman and CFO Jonah Ungacta Chief Information Officer Stefan Pampulov EVP and Chief Operating Officer Keith Agena EVP, Chief Administrative and Legal Officer STAFFING 33 employees CONTACT INFORMATION Hawaii Kai Towne Center 6700 Kalanianaole Highway, Suite 210 Honolulu, HI, 96825 Phone: 808.527.2428 Email: info@collateralanalytics.com Web: collateralanalytics.com CORPORATE PROFILE Collateral Analytics (CA) is the leading provider of comprehensive automated valuation solutions and real estate analytic products for large lenders, mortgage servicers, mortgage insurers, apprais- ers, real estate brokers, investors, and the financial services industry. CA is committed to building and delivering the most advanced and innovative AVMs and automated valuation products, premiere collat- eral and mortgage risk tools, and related products, which incorporate CA's leading-edge analytics and technology with a wide range of real estate and mortgage-related databases. Six of the top 10 banks in the U.S. use CA products. COMPANY HISTORY CA is comprised of a team of analytics and technol- ogy professionals led by Dr. Michael Sklarz, that has been working closely together for nearly 15 years. BUSINESS LINES, SERVICES, AND PRODUCTS CA develops analytic products and tools to support financial institutions, investment banks, appraisers, real estate brokers, and real property capital market activities. Financial Products: Automated Valuation Models • CA Value AVM • CA Value Market Condition AVM • CA Value Forecast AVM • CA Interactive AVM • CA AVM Cascade • CA Rental AVM Analytic Products • CA HomePrice Trends Analytic Platform • CA Home Price Indexes • CA Home Price Forecasts • CA Automated Market Condition Automated Valuation Products • CA iAppraisal • CA iDesktop • CA iBPO • CA iRMV Risk Products • CA Risk Profiler • CA Complexity Profiler • CA Credit Risk Model Real Estate Products • CA Market Expert Interactive AVM • CA Agent Market Wizard • CA HomePrice Trends • CA Interactive Market Share Consumer Real Estate Products • CA Consumer AVM • CA Home Seller Scores KEY FEATURES/BENEFITS Collateral Analytics provides automated products for the full lifecycle of mortgage lending, including cus- tomer acquisition and retention, property valuation for origination, servicing and default management, appraisal production and appraisal quality control, real estate market condition monitoring and market forecasts, and mortgage performance products for predicting prepayment and default. COMPETITIVE ADVANTAGE CA is committed to working directly with its clients to build and deliver the most advanced and innovative automated real estate valuation and mortgage risk products. This involves enhancing existing products or building new ones with CA's unique data assets and analytic skills. CA prides itself on being highly responsive to client needs, while at the same time being very agile in providing solutions which are typically measured in days or weeks rather than months or years. ADDED VALUE TO CLIENTS CA offers customizable products and services through state-of-the-art technological innovation that provides greater and faster access to the most accurate and timely data and information. These products and services empower its clients, who it views as business partners, to have high levels of confidence in making critical and successful deci- sions. KEYS TO YOUR SUCCESS CA's success starts with the company's Research and Development team led by Dr. Michael Sklarz and Dr. Norman Miller. They apply their extensive knowledge of and experience in real estate markets to bring together the business and academic/ research worlds to create innovative and leading- edge solutions for clients, which are delivered with superior customer service. ® TH E M R EP O RT | 37 DATA AND ANALYTICS SERVICE PROVIDERS SPECIAL ADVERTISING SECTION // DATA AND ANALYTICS SERVICE PROVIDERS HouseCanary KEY PERSONNEL Jeremy Sicklick CEO and Co-Founder Chris Stroud Chief of Research and Co-Founder Paul Wehrley COO Jim Adams CTO Martin Morzynski CMO Chris Conway SVP and Head of Product STAFFING Approximately 110 CONTACT INFORMATION 201 Spear St. #1050 San Francisco, CA 94501 Phone: 855.218.9597 Email: info@housecanary.com Web: housecanary.com CORPORATE PROFILE HouseCanary is the authoritative source for accurate residential real estate information that covers every residential block in the U.S., analyzed and visualized in real time for better, faster decision-making. COMPANY HISTORY Jeremy Sicklick and Chris Stroud founded HouseCanary in 2014, with the goal of helping peo- ple make better real estate decisions. The company has since grown to nearly 100 employees, and has expanded its datasets to cover every residential property in the U.S. HouseCanary is revolutionizing the way homes are purchased, appraised, valued, and sold. With a team of world-class data scien- tists, HouseCanary has created the most accurate forecasting models in the industry, and has packaged its knowledge into easy-to-use software tools for ap- praisers, brokers, investors, and lenders. BUSINESS LINES, SERVICES, AND PRODUCTS Lenders: HouseCanary's Valuation Suite offers lenders objective collateral valuations for all levels of risk. From the industry's most accurate residential AVM (median error of 2.7%), to Value Report, the comprehensive desktop valuation tool available on demand for 100 million properties, to the unique Agile Appraisal TM , a faster, lower-cost alternative to BPOs, 2055, or 1004 appraisals, the suite allows lenders to qualify and underwrite with unprecedent- ed speed and accuracy. The data and analytics underpinning our Valuation Suite are available to lenders to value properties through the life of the loan—and they're also available via API and Match & Append to deliver valuations in bulk, on demand. Investors: HouseCanary's Valuation Suite allows institutional investors faster deal diligence, more accurate valuations, and the ability to optimize property and loan portfolios with data available on demand and in bulk. Imagine a centralized hub that tells you which properties to retain, which to sell, which to upgrade and then sell, and which to upgrade and re-lease at optimal rent. All this is possible in minutes, allowing teams of analysts to redeploy their time. Real Estate Brokers and Agents: HouseCanary elevates real estate professionals with the most complete and accurate home valuations and analytics for every block and property in the U.S. Providing them much more than a CMA, the Value Report serves as a tool that helps agents give their clients the "why behind their home's value." Appraisers: HouseCanary saves appraisers time and money with all-in-one cloud appraisal software that can be accessed from your desktop, tablet, or phone. KEYS FEATURES AND BENEFITS Aggregating millions of data elements, including more than four decades of property data and a rapidly expanding arsenal of proprietary calculations and analytics, allows HouseCanary to accurately forecast residential home values and identify market influences to help real estate professionals make mission-critical decisions, such as property selection, valuation, un- derwriting, and portfolio optimization. Our mobile, web, and API products are trusted by leading institutional investors, lenders and real estate brokers. COMPETITIVE ADVANTAGE By indexing and analyzing over 40 years of residen- tial data and a billion transactions, HouseCanary offers residential forecasts for every metro, ZIP code, and block in the United States with an un- matched 0.7% error rate over 12 months. With our comprehensive data set and easy-to-use software, lenders can qualify and approve clients faster than ever while knowing they have the industry's most accurate forecasting models on their side. ADDED VALUE TO CLIENTS Utilizing the industry's most comprehensive data set, HouseCanary brings value to clients with every real estate decision they make. In addition to the most accurate, real-time lending database in the U.S., HouseCanary can pre-qualify potential mortgage customers, speeding up the process and reducing lenders' credit risk. HouseCanary also offers an array of software solutions for appraisers, brokers, and agents that help them work smarter, faster, and more efficiently—saving them time and money. KEYS TO YOUR SUCCESS HouseCanary's success starts with a talented, dedi- cated, excited team. They include some of real estate's brightest strategists, statisticians, and software engi- neers working every day to make sure HouseCanary's products are user-friendly and accurate. Ultimately, HouseCanary's success depends on its customers' success. If it can help them make better, faster real estate decisions, then everybody wins. INDUSTRY AWARDS, ACCOLADES, AND MILESTONES • Named one of the most innovative companies by HousingWire's Tech 100 over the last two years • Selected as Real Estate Partner for Google Cloud • Financed by notable investors including Hillspire (Alphabet Executive Chairman Eric Schmidt's family office), PSP Growth/PSP Capital (firm founded by entrepreneur and former Commerce Secretary Penny Pritzker), Alpha Edison, ECA Ventures, Raven Ventures, and others top Silicon Valley investors • Released Agile Appraisal TM platform in Sept 2017 38 | TH E M R EP O RT DATA AND ANALYTICS SERVICE PROVIDERS SPECIAL ADVERTISING SECTION // DATA AND ANALYTICS SERVICE PROVIDERS Veros Real Estate Solutions KEY PERSONNEL Darius Bozorgi Darius Bozorgi is Co-founder, President, and CEO Bijan Bozorgi Bijan Bozorgi, CFO and Co- founder David Rasmussen David Rasmussen, SVP, Operations Chuck "Chuck" Rumfola SVP, Strategic Initiatives and Sales Eric Fox VP, Statistical and Economic Modeling STAFFING 80 employees CONTACT INFORMATION 2333 N. Broadway, Suite 350, Santa Ana, California 92706 Phone: 714.415.6300 866. 458.3767 toll-free Email: communications@veros.com Web: Veros.com Twitter: @verosres CORPORATE PROFILE Veros is a leader in predictive technology for the financial services industry and an award-winning provider of real estate analytics for the entire mortgage lending chain from origination to the capital markets. Veros Real Estate Solutions (Veros) provides essential tools for comprehensive property valuation and risk assessment to mortgage lenders, servicers, rating agencies and the investment com- munity, both private and government-sponsored. COMPANY HISTORY Innovating mortgage technology since 2001, Veros continues to hold a leading role in the industry's col- lateral valuation space. The company has excelled as a premium provider of automated valuation mod- els (AVMs), as well as residential market forecasts, home price indices, market risk scoring tools and market-to-market methodologies, among others. These solutions provide clients with the capacity for more proactive portfolio management, increased conversion rates and deeper insights into potentially risky scenarios earlier in the transaction. REGULATORY COMPLIANCE Veros is committed to developing products that will help its clients meet the demands of complex industry regulations, as well as quickly and success- fully adapt to the evolving mortgage landscape for profitable business results. The company is focused on combining its predictive analytic prowess with its industry expertise to create advanced forms of business intelligence software. These platform solutions enable companies to better predict and control portfolio risk, mortgage fraud, and regula- tory compliance all with the streamlined efficiency afforded by industry solution experts. BUSINESS LINES, SERVICES, AND PRODUCTS Veros delivers enterprise risk management solu- tions used by many of the country's leading lenders, servicers, and investors. Veros' systems automate the ordering, tracking, review, acceptance, quality control, scoring and delivery of appraisals, broker price opin- ions (BPOs) and automated valuation models (AVMs). Veros offers sophisticated risk assessment products, analytics and real estate data to enhance the power of valuations, as well as automating the criteria, assign- ment and management of these products. KEY FEATURES/BENEFITS VeroPRECISION™: The next-gen alternative to cure the industry of the common cascade. VVeroPRECISION utilizes sophisticated data analysis to deliver the most accurate automated valuation from the industry's top-performing AVM providers. VeroPRECISION is a game changer for the mortgage industry both from a compliance and performance standpoint. VeroVALUE: Veros' flagship automated valuation model (AVM), VeroVALUE remains an objective and cost-effective tool for valuation risk monitoring. Combining predictive modeling and technology with quality data and industry expertise, VeroVALUE delivers property valuations with unrivaled reliability. VeroSELECT: Allowing a virtually unlimited array of AVM cascade configurations, VeroSELECT is a transparent and powerful solution with unmatched system reliability that meets the unique needs of organizations large and small. VeroSCORE: The VeroSCORE appraisal scoring tool provides an automated, virtually instantaneous evaluation of the contents of an appraisal report and its associated risk. The report provides supplemental analysis with supporting data to expedite any additional due diligence required. VeroFORECAST: With more than 10 years of proven, consistent, and documented accuracy, VeroFORECAST applies advanced analysis to econometric, real estate and market data to deliver predictive real estate valuations and market insights. PATHWAY: Pathway offers a direct connection to the GSEs' Uniform Collateral Data Portal ® (UCDP ® ) and their UCD collection solutions, including to FHAs Electronic Appraisal Delivery (EAD) portal without the current need for a complete platform solution. COMPETITIVE ADVANTAGE Veros introduced the mortgage industry's first valuation decision engine, at the property level— VeroPRECISION™. A new artificial intelligence engine, VeroPRECISION's AVM decision logic provides a quick and easy way to determine a prop- erty's suitability for AVM usage. And sets the bar for data uniformity and submission as the official technology provider for Fannie Mae and Freddie Mac's Uniform Collateral Data Portal® (UCDP ® ) and built the Electronic Appraisal Delivery (EAD) portal for FHA. KEYS TO YOUR SUCCESS Veros has a proven development and implementa- tion track record, combined with a strong under- standing of the new and existing regulations, having built the direct connection to the GSEs' UCDP to address the Fannie Mae and Freddie Mac mandate to have the Uniform Appraisal Dataset (UAD) be a part of the loan delivery process. New and improved Radian Rates mobile app is now easier, faster and more responsive than ever. save unlimited quotes and quickly retrieve them across all Radian platforms using a quote ID. Save time scenario presets. Plus, you can email your borrowers their quote instantly — straight from the app. Radian is your ultimate on-the-go MI tool. © 2017 Radian Guaranty Inc. www.radian.biz/RatesApp | 877.723.4261 CELEBRATING TM