Lending, Real Estate
TitleClose was developed in direct response to the Know Before You Owe initiative to allow consumers, lenders and Realtors to identify settlement service providers nationwide based on a variety of criteria. TitleClose presents the actual fees that a consumer is expected to pay in the transaction in an easy-to-read Fee Display, as well as the fees per the TRID calculations. The TRID-calculated fees are automatically populated onto a downloadable Loan Estimate and the Closing Disclosure in the proper format and in the proper fee sections and the user has the ability to save and email the forms. TitleClose members can customize their own mobile app and/or mobile optimized website. TitleClose saw growth of 100%, month over month in 2015.
United Wholesale Mortgage
The latest technology developed by United Wholesale Mortgage, UClose, is an online tool that gives brokers the power to go from clear-to-close to closing in just a few minutes, and puts money on the table in less than an hour. UClose puts brokers in control of the closing process, allowing them to create the closing docs and scheduling the closing. UClose was designed to be TRID-compliant, and has helped mortgage brokers close loans four days earlier than they could before the technology launched. Broker usage of UClose increased by nearly 120% from August to November and UClose has enabled brokers to reduce the time spent on loans between underwriting and closing by 13%.
Lending, Servicing, Investments, Real Estate
Valuation Vision provides alternative valuation products and solutions for the mortgage, servicing and investment industries. The company’s BPOMerge uses up to three agents to create the multi-sourced Broker Price Opinion. BPOMerge leverages Valuation Vision’s proprietary valuation platform to engage multiple agents that independently collaborate on determining the estimated list and sale price of the subject property. The final report contains more than 35 element property inspection, 18 expert-selected comparables and detailed analysis. BPOMerge also includes MergeValue, a proprietary value reconciliation algorithm that scores agent performance and reconcile to the most probable price. A recent multi-year client study concluded that BPOMerge has, on average, predicted sale prices within 2% of actual sales price.
Lending, Real Estate
ValueLink appraisal management software gives appraisal management companies, lenders and appraisers the ability to manage and track all their appraisal orders from a single location, while maintaining regulatory compliance. In 2015, the company introduced CrossCheck, a proprietary appraisal review technology that checks appraisal reports within seconds for almost 1,000 rules, and alerts reviewers on any potential UAD and non-UAD errors on the report. A pre-screening option allows appraisers to see potential mistakes prior to submitting their report, and submit a corrected report without waiting on reviewers to provide feedback. CrossCheck allows clients to significantly reduce the time required to review a report and consistently deliver higher-quality reports to their lenders.
Vantage Production’s VIP solution is a mortgage-specific CRM technology with proposal development and presentation, sales force automation and marketing that is accessed by a single login. VIP brings next-generation automation and control for lenders, enabling them to tailor their sales, marketing and presentation processes while simplifying regulatory compliance. VIP’s centrally managed marketing enables lenders to tailor and control both the content and the campaigns their MLOs send to prospects, clients and referral partners, resulting in communications that are compliant and auditable. With cloud-based delivery, VIP is easy to implement and cost effective to operate — and VIP is already integrated with leading LOS such as Encompass and Calyx.
Velocify provides cloud-based intelligent sales automation solutions, including its LeadManager, which lets lenders retrieve leads from 1,400 integrated lead sources; Dial-IQ, which handles inbound and outbound calls; and its newest solution, Velocify Pulse. Pulse enables companies to accelerate their sales performance by taking an insights-driven approach to developing the optimal sales processes. Velocify Pulse motivates teams to follow the sales plan through rewards and keeps the entire organization aligned through a single platform that covers everything from prospecting to lead response to closing the deal. Velocify’s research has consistently proven that its technology can help lenders increase borrower conversion rates almost immediately after implementation.
Lending, Servicing, Investments
Veros is a central source for secondary market electronic appraisal submission technology. The company is the official technology provider behind FHA’s Electronic Appraisal Delivery portal, which went live in 2015 and will become mandated for FHA lenders as of June 2016. Veros is also the official technology provider for Fannie Mae and Freddie Mac’s Uniform Collateral Data Portal, which has processed more than 28 million appraisals since the system’s go-live date. As the technology provider responsible for building, integrating and maintaining lender and vendor connectivity to these mission-critical systems, Veros technology continues to touch virtually every residential real estate appraisal in today’s mortgage market. The company’s solutions incude PATHWAY and Sapphire.
VirPack’s Document Management and Delivery System (DMDS) enables lenders to manage the electronic, digitally executed and paper-based documents required to efficiently process, underwrite, close, sell and/or service a loan. DMDS supports nine methods of capturing documents and images and automates the identification and indexing of the documents using forms recognition and OCR technology. The VirPack Borrower Portal allows borrowers to securely upload requested documents, securely download documents sent to them by their lender, monitor loan status and exchange secure messages. VirPack’s year-over-year revenue growth was 30% in 2015.
Wipro Gallagher Solutions
Lending, Servicing, Investments
The company’s Lend Value Solution is a comprehensive suite of lending technology products that instantly interact across mobile, online and back office PC with the end goal of delivering a consistent customer experience. The Lend Value solution is designed to support an omnichannel lending strategy and includes NetOxygen Universal Loan Origination System, its flagship LOS that acts as the brain in this product suite. The company’s Enterprise Mobile Origination app enables on-the-go loan origination functionality. From any location, the sales rep can service the borrower by pulling credit, comparing products, providing pricing, calculating mortgage payments, uploading documents and completing the full 1003. The result is a more interactive experience with the borrower and productivity gains for the lender.
Lending, Real Estate
Formerly known as Solutionstar, this end-to-end digital real estate platform offers consumers a one-stop shop for the entire real estate experience, from picking a house and an agent through securing financing and closing the loan. When it was launched in June 2015, Xome said it would provide access to more than 120 million public properties, auctions and more than 80% of MLS listings on its portal xome.com.