RadPad is an apartment search and rent payment platform that is focused on meeting the needs of the renter. In addition to offering tools that streamline the apartment search process, RadPad launched Pay with RadPad late last year to let renters pay their monthly rents via their iPhones and credit or debit cards. Earlier this year they let renters split rent payments with Apple Pay. The company’s platform is gaining steam: more than $50 million in rent was processed by RadPad in 2015 and more than 2 million renters used it to find an apartment in November 2015.
Lending, Real Estate
RatePlug gives lenders exposure to homebuyers directly through the local MLS system, with real-time housing payment information within property listings. The system uses live lending data from lenders, who are referred by real estate agents and brokers, in order to pull through monthly principal and interest loan payments on multiple loan products offered specific to the properties being searched. The system gathers and displays monthly real estate taxes, insurance and association fees to provide an accurate estimate of what the total monthly housing payment will be for each property viewed. Monthly, more than 5.3 million property reports that are sent through MLS systems to homebuyers have the RatePlug display and more than 162,000 email alerts go out to lenders notifying them when one of their agents lists a new home or hosts an open house.
Lending, Servicing, Investments, Real Estate
Rate Reset is a secure web-based/mobile platform, which allows borrowers to reset their mortgage without going through the refinance process. Rate Reset’s technology is designed with an easy-to-understand UX experience where the borrower’s current mortgage is shown, and next to their current mortgage is the reset interest rate offered for the day by their financial institution. If the borrower likes the reset interest rate, they simply click a button and electronically sign one form. The Rate Reset feature is primarily offered on Hybrid ARM products. The company offers an annuity incentive paid to the loan officer for the life of the loan upon the first borrower Rate Reset, avoiding the hassle of refinancing previous borrowers.
The search technology on RealScout aggregates and analyzes hundreds of data points to empower homebuyers to search for new listings visually by using highly desirable criteria such as remodeled kitchens, large backyards, natural light and hundreds more, made possible by machine learning and other proprietary techniques. The company works to empower the agent-client relationship through a collaborative home search platform. Real estate agents can gain visibility into their clients’ home search via the agent dashboard and prioritize their pipeline. RealScout has raised $10 million in venture capital and powered more than a billion dollars in home transactions in 2015.
Servicing, Investments, Real Estate
Realty Pilot is a cloud-based enterprise solution acting as a back-office system for agents, brokers, institutions and third parties. It also offers a public-facing offer management system that automates the offer process, eliminating the need for email. Its back-office solution virtualizes an individual’s business or converts an entire brokerage to a paperless operation by providing processes such as transaction management, document management, tasking, contractor bid and work orders, CRM solution, commission tracking, accounting, mobile smartphone app, messaging, date stamp and digital signatures. The company saw revenue increase by 30% in 2015 and grew users 100%.
RealtyTrac aggregates data from parcel-level records of more than 130 million U.S. residential and commercial properties delivered through customizable products including bulk licensing, APIs and custom reports. Its five databases — tax, deed, mortgage, distressed properties and neighborhood characteristics — give insights to a single property, ZIP code, city, county or state. RealtyTrac recently entered the tax, deed and mortgage data licensing business, and in September 2015, it launched an enhanced Marketing List Lead Generation Platform allowing customers to leverage its real estate data to create targeted marketing lists in a self-service online interface.
The company’s Jonah web application offers visualization tools to streamline and simplify the management of distressed residential mortgage portfolios. In particular, it uniquely marries portfolio level tools with data-driven, asset-level clarity into the foreclosure and bankruptcy processes. Jonah consumes and analyzes data from existing default platforms to identify the current step of foreclosure and measure timeline performance at a state-specific level. According to the company, the number of assets managed on Jonah grew by approximately 1,500% in 2015.
A secure user-interface tool, RedVision’s NOVA is a nationwide “self-service” title procurement and production web-based application. Based on custom permission sets, clients receive desktop access across all U.S. properties to real-time information on order status and activity, performance indicators and management reporting. Users can analyze dashboards that include intuitive interactive charts and data grids, with full drill-down capabilities. NOVA includes real-time business intelligence, transparency and reporting tools using browser technology.
The ReferralExchange Realtor Referral service matches buyers and sellers with the top three agents in their area and track the entire transaction process from initial agent request through closing and payment. Over the past 10 years, ReferralExchange has built a curated network of more than 15,000 of the top-performing real estate agents who serve every ZIP code in the U.S. Member agents represent both large and boutique brokerage brands and have been in the network for an average of four and a half years, and have an average of eight years of real estate experience.
Lending, Servicing, Investments
Rekon’s lien release and assignments technology solution is used by seven of the nation’s top 10 servicers. Rekon automatically stores and updates all county and investor guidelines, but also leverages automation to enhance productivity. Its DokTrak technology identifies and resolves file deficiencies in post-closing, and enables servicers to know the exact physical location of every file and document in the file room, and order and check the status of document and file requests.