Mortgage Tech Rundown looks at the latest news in mortgage technology, featuring new product updates, integrations and announcements.
Propertybase, a global real estate platform, has partnered with API Nation to simplify the business of real estate.
The company explained in a press release that the partnership will provide its customers with connected applications and built-in workflows that aim to eliminate many of the technology silos that brokerages and agents face.
"We are thrilled to be partnering with Propertybase and providing their clients with robust integrations at the push of a button," said Michael Davidovich, CEO, API Nation. "Our teams share the belief that real estate brokers, agents, and consumers thrive by working in completely connected and tightly integrated systems, making this partnership a perfect match.
Altisource Portfolio Solutions, a provider of real estate, mortgage and technology services, announced the launch of a new tailored suite of single-family rental services for the SFR market.
Through Altisource’s suite of SFR services, the company aims to help customers expedite closings while providing them with significant cost savings. Altisource’s new suite of SFR solutions includes appraisal and valuation services, renovation services, property inspections and more.
“As the single-family rental market expands and matures, we see a phenomenal opportunity to help institutional investors, owner-operators and private lenders navigate and grow in the SFR space,” said Ben Hall, vice president, Altisource. “Altisource is well-positioned to provide its vertically integrated suite of single-family rental services and innovative solutions tailored to each customer’s strategy. It’s an exciting time for the SFR market, and we continue to listen to our customers’ needs and develop solutions that fully support them.”
PointPredictive announced the general availability of a new solution that aims to help lenders improve the overall accuracy of their income validation efforts.
The solution, IncomePASS, analyzes a borrower’s income to determine whether or not they are likely to default on a loan. The company claims this will better help lenders assess when additional characteristics of an application are more likely to lead to loss.
“Traditional legacy tools are expensive and provide incomplete coverage,” said Tim Grace, CEO of PointPredictive. “Employer-based database verification checks can typically verify income on less than 30% of the applicant submissions, leaving 70% of stated incomes to be confirmed by paycheck reviews, many of which are fake paycheck submissions. Replacing these solutions with IncomePASS will enable 100% coverage across a lender’s portfolio and enable significantly less friction between consumers, lenders and dealers in funding loans.”