EXOS Technologies, a division of ServiceLink, is utilizing its cloud-based AI technology to allow homeowners the ability to perform inspections through a mobile application.
Coined as EXOS Inspect, the application can be used to support home equity lending and collect data for portfolio management processes including loss mitigation, loan modification and private mortgage insurance removal.
EXOS Inspect utilizes geofencing and time-stamping to assure the accuracy of the data, allowing homeowners to complete a verified video inspection of a room. Video can be incorporated into lender portfolio management, valuation reports, property condition reports, broker evaluation and desktop appraisals.
“Although much of the mortgage process can be done online or remotely by phone, many inspections still require in-person interaction between consumers and inspectors,” said Dave Steinmetz, originations division president for ServiceLink. “EXOS Inspect will play an immediate role in today’s market, as well as the future real estate lending industry.”
Guaranteed Rate announced the launch of a new addition to its digital mortgage platform. The tool, GRaffordable, acts as a mortgage calculator and allows borrowers the ability to purchase and refinance from their smartphones.
By answering questions regarding home purchase or refi, borrowers can view loan options tailored to their needs and qualifications. The application offers options for conventional, jumbo, FHA and VA loans, and 24/7 accessibility to the services without the requirements of a login.
“With rates hovering at historic lows, there’s never been a better time to be a homebuyer. With the GRaffordable platform, we continue to offer transparency to our customers and agent partners so that they get a clear picture of what they can afford,” said Guaranteed Rate founder and CEO Victor Ciardelli.
DataTrace Information Services released its centralized tax record platform, TaxSource, to house multiple property tax databases under one roof. The database consists of nationwide tax records and can be accessed and delivered in a standardized format from any jurisdiction.
TaxSource manages varying county requirements and integrates with most production applications – including API integration to title production systems.