TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/997391
8 | TH E M R EP O RT MTECH each hour-long episode features interviews with two industry influencers and covers topics including investment and business strategies, current market analysis, identifying potential real estate investment deals, property acqui- sition, and lending. "Auction.com, a nationally recognized and trusted online real estate marketplace, is a perfect fit for Think Realty Radio," Eddie Wilson, CEO of Think Realty and its parent company, Affinity Worldwide said. "The Think Realty audience is comprised of real estate investors who are serious about expanding their knowledge, and Auction.com is an excellent resource for them." "We are excited to connect with Think Realty's national audi- ence of investors and help them find properties that fit their indi- vidual and personal investment criteria," Colleen Lambros, CMO from Auction.com said. "We look forward to a long and fruitful partnership with Think Realty." CoreLogic Launches First Non-Weather- Related Risk Solution THE SOLUTION WILL PROVIDE INSURERS WITH NEW QUANTIFIERS FOR MORE ACCURATE PRICING. P roperty information and analytics provider, CoreLogic, announced the availability of two products that comprehensively assess non- weather-related water and fire risk. WaterRisk and FireRisk, both products of Location, Inc., are the first to measure the frequency of non-weather-re- lated water and fire events and represent the only non-weather- related risk assessment solutions available on the market. Property insurers have histori- cally been unable to accurately analyze the likelihood of non- weather-related hazards, such as plumbing and appliance leaks or the likelihood of house fires, due to a lack of consistent and complete data that capture unac - counted for water and fire risk. "However, non-weather-related water damage accounts for ap- proximately 20 percent of all homeowner insurance losses na- tionwide, and 84 percent of home structure fires are either intention- ally ignited, smoking accidents or a result of misused or failed cooking equipment, unattended candles or failures of heating and electrical systems," CoreLogic said. WaterRisk and FireRisk by Location, Inc. are the first non- weather risk solutions built using advanced predictive analytics that look at appliances, systems, wiring, structures, climate, and geographical location. This enables insurers to more accurately quantify the likelihood and sever - ity of damage from water and fire beyond previous methods of qualification. The solution utilizes 2 billion data points nationwide, as well as unique geospatial risk models to generate over 11 million points of risk. "Historically, insurance risk has been calculated primarily through the analysis of natural hazard risks such as hail, flood, wildfire and storm surge, without the inclusion of non-weather hazards," Steve Brewer, Executive, Insurance, and Spatial Solutions at CoreLogic said. "With WaterRisk and FireRisk, insurers are now empowered with these previously unaccounted for quantifiers of risk to more accurately underwrite and price policies commensurate with real risk. We are proud to offer our clients the missing piece, the only non-weather-related solu - tion for the insurance industry that uses measurable data to holis- tically assess structural risk." With complete, seamless U.S. coverage at the individual block level, the products offer 300 times more granularity into specific property risk factors than the average ZIP code analysis can provide. Both products identify precise, measurable data on previ - ously unquantifiable factors such as poorly maintained properties, improper storage of flammable materials or plumbing system failures. "We are passionate about building data sets and uncovering sources where no other company can," Andrew Schiller, CEO at Location, Inc., said. "WaterRisk and FireRisk represent an enormous opportunity for the property insurance industry to improve accuracy and outcomes. We have had strong results test- ing with carriers nationwide, are excited about the use cases we are already seeing with clients." WaterRisk and FireRisk, are available for portfolio consump- tion and through RiskMeter Online from CoreLogic. Guaranteed Rate Partners with DocMagic to Cut Closing Time THIS NEW PARTNERSHIP USES ELECTRONIC SIGNING TO ADVANCE THE PROCESS OF CLOSING AND REDUCE PREPARATION TIME. D ocMagic, Inc., a Califor- nia-based provider of fully compliant loan doc- ument preparation, regulatory compliance, and comprehensive eMortgage services, announced that retail mortgage lender Guaranteed Rate can now cut closing time by electronically signing mortgage closing docu- ments in advance. Guaranteed Rate has branded the solution FlashClose, which al- lows customers to opt in, review, and complete most documents in advance of the notary arriving, saving an hour or more at the closing table—with some averag- ing a mere 10-minute appointment to provide inked signatures. "Guaranteed Rate is always looking for ways to simplify the process using innovative technol- ogy to enhance the customer experience," Jim Hettinger, EVP of Operations for Guaranteed Rate said. "With the successful launch of FlashClose, powered through our partner DocMagic, this tool adds speed, convenience, and ac- curacy to the closing process." "Guaranteed Rate is a leader in mortgage technology innovation and collaborating with them on this project has created a solid hy- brid eClosing approach that saves a lot of time for both borrow- ers and closing agents," Dominic "We are proud to offer our clients the missing piece, the only non-weather-related solution for the insurance industry that uses measurable data to holistically assess structural risk." —Steve Brewer, Executive Insurance and Spatial Solutions, CoreLogic