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The 5 mortgage handshakes and lending launches you need to know

Recently there have been quite a few big moves in the industry, here are just a few

Recently, there were a number of big releases that came across the news desk at HousingWire we thought you might like to know about.

Here is a recap of a few that caught our eye.

First thing Monday, Tavant announced that New Penn Financial selected Tavant’s FinLeads, a component of the Tavant VELOX platform, to transform its lead engagement process.

“New Penn Financial specializes in finding the right loan for every borrower and FinLeads allows us to connect with customers in real-time. The data-driven experience coupled with a true omni-channel customer engagement will effectively convert leads to loans,” New Penn Financial Senior Vice President of Direct to Consumer Lending Rob O’Han said in a statement.

FinLeads is a customer engagement platform that uses algorithms to automate the journey from lead to loan issuance.

Next up, we have the SWBC Lending Solutions/Veros Real Estate Services tag team.

SWBC Lending Solutions teamed up with Veros Real Estate Services to offer and end-to-end collateral valuation and analytics services. SWBC Lending will now offer Veros’ automated valuation model services.

"We are thrilled to have partnered with Veros Real Estate Services,” SWBC Lending Solutions CEO Ted Robinson said in a statement.

“They are the leader in AVM modeling and technology, and our customers will benefit greatly from these innovative products,” he added.

SafeChain, a wire fraud prevention software for land title, is integrating the national ALTA Registry into its wire fraud prevention platform SafeWire. The integration will allow mortgage lenders to verify the identity of title insurance agents and settlement companies.

“With wire fraud on the rise, everyone in the real estate transaction – lenders included – must increase their level of vigilance to maintain the integrity of the process,” SafeChain Co-Founder and CEO said Tony Franco said in a statement.

“Integrating the ALTA Registry ALTA ID into SafeWire enhances the level of security we’re able to provide to all parties, bringing us one step closer to completely eliminating fraud in the wire transfer process,” he added.

VirPack and Calyx Software also announced a partnership on Monday, and henceforth Calyx's clients will be able to use VirPack's virtual file automation capabilities which include multipe methods of document capture, automated document recognition and indexing and rule-based workflow capabilities. The software also includes the ability to send loan files and data electronically to investors, the Department of Housing and Urban Development and other interested parties.

“With mortgage origination costs continuing to rise, lenders need to leverage integrations between their technology providers to eliminate costly and time-consuming manual processes,” Calyx Software Executive Vice President Bob Dougherty said in a statement.

“Calyx is proud to partner with VirPack to provide our customers seamless access to a solution that improves productivity and efficiency," he added.

And last, but not least, Aces Risk Management, launched a new quality control technology called DataSure that it claims can reduce lenders’ data validation task times by 50% or more.

“Most loans contain at least one data discrepancy that can negatively impact lenders’ revenue through buybacks, delays, loss of investor confidence, and longer warehouse dwell times,” said ARMCO President Phil McCall said in a statement.

“If lenders don’t use a robust data validation technology, they can expect discrepancies that cost them tens or even hundreds of thousands of dollars in unnecessary expenses,” he added.

In a market where compliance costs have ballooned the price of originating a loan, a time-saving, potentially cost-cutting technology like this could be vital to stemming margin compression.

“The best way to protect current profits and future longevity is to be proactive about loan quality,” McCall said.

“DataSure is one more ARMCO tool that the mortgage community can use to drive the health and growth of their businesses,” he added.

 

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