It may only be midweek, but there are several notable events happening in the mortgage market right now.
#1 CoreLogic improves property tax accuracy
The global property information, analytics and data-enabled solutions provider said it integrated geospatial and appraisal data validation into the parcel identification process.
The new features provide additional property granularity and verification to help ensure more accurate parcel information for property tax reporting.
According to a statement, real estate tax reporting requires the correct parcel information to ensure property taxes are paid accurately and on time.
The new process will leverage taxing authority public record data, geospatial data, valuation and appraisal data, and an expansive document repository to assist in the parcel identification process, the statement said. These data elements will be combined into a single query to optimize the accuracy and timeliness of property tax reporting and payments.
“Our integration of geospatial data has also allowed us to enhance our workflow system and parcel identification process using standard and satellite maps with parcel overlays,” said Nancy Langer, executive, Real Estate Tax and Payment Solutions for CoreLogic. “These overlays create a visual representation of parcel dimensions allowing our search professionals to validate location, acreage and legal descriptions of real property.”
The new integration is part of a multimillion dollar investment CoreLogic is making on improving its products.
#2 BeSmartee integrates with Fannie Mae’s Desktop Underwriter
The direct integration into Fannie Mae enables lenders to use BeSmartee's point-of-sale platform to automatically submit borrower applications directly to Desktop Underwriter to generate eligibility reports.
This will accelerate the loan origination process for borrowers and loan officers while decreasing redundancies, the company said.
"We founded BeSmartee a decade ago based on three core principles, to make the lending process faster, easier, and more transparent. Incorporating an automated submission of borrower applications directly to Desktop Underwriter is a key element in reinforcing those principles of what we sincerely believe is the industry's most advanced point-of-sale platform," said Arvin Sahakian, Co-Founder of BeSmartee.
This is part of a larger trend in mortgage lending where big data and artificial intelligence help borrowers to go from initial contact to underwriting in minutes.
#3 SetSchedule to showcase AI at TechCrunch
As the premier event for technology startups, TechCrunch Disrupt features on-stage interviews, startup competitions, a virtual hackathon, workshops and more.
SetSchedule is an Artificial Intelligence-driven real estate technology company that will showcase its lead-generating execution platform at the event.
SetSchedule just rolled out new product enhancements and a proprietary platform that will introduce real estate agents to the world's first machine learning, AI-based dynamic real estate data marketplace, the company said.
This will help them select the best data, pick the best leads and secure the best scheduled opportunities.
SetSchedule has already disrupted the real estate industry with advanced data analytics and AI technology that connects real estate professionals with homebuyers and sellers.
Homebuyers can take advantage of real-time property estimation tools and algorithmically match with the perfect agent to suit their unique needs.
"We believe that more than anything, we are a technology company, and understanding the foundation of data enrichment, machine learning and AI, and how we can harness those capabilities in the real estate space is extremely important," said Roy Dekel, CEO of SetSchedule. "TechCrunch Disrupt hosts some of the most forward-thinking entrepreneurs and investors in the space, and our enthusiastic participation in this event lets us collaborate with those thought leaders and keep our finger on the pulse of innovation."
#4 Norcom launches pre-approval program
The new Norcom JumpStart Pre-Approval Program allows a potential borrower to tackle the loan process before they even start house hunting.
Every JumpStart Pre-Approval is reviewed by an underwriter to prepare them for success and gets them closer to finding the right home, the company said.
And, with their Rate Assurance, a borrower is able to lock in their rate for up to 90 days. When a contract is submitted, if rates go up, their initial rate is guaranteed. If rates drop, they get the lower rate.
“The program is meant to enhance the consumer experience. We want our borrowers to feel a heightened level of security and an ability to shop confidently,” said James Morin, Executive Vice President, Sales at Norcom. “We know that buying a home can be a stressful time, and we want to take some of that burden off their shoulders.”