Mortgage Tech Rundown looks at the latest news in mortgage technology, featuring new product updates, integrations and announcements.
Cloudvirga, a digital mortgage point-of-sale software provider, announced the integration of EXOS’ cloud-based technology into its digital mortgage platform.
Through the integration, Cloudvirga can now leverage EXOS’ technology to streamline the mortgage process, thus enabling lenders to better manage their pipelines, according to the company.
“By adding the EXOS technology to Cloudvirga’s digital mortgage tech stack, we’ve managed to accomplish something that’s unheard of in the mortgage industry – a fully digital consumer and originator experience from end-to-end,” said Daniel Sogorka, CEO of Cloudvirga. “Our goal has always been to make the mortgage process as painless and straightforward as possible for both mortgage lenders and their customers. This partnership is a testament to that commitment.”
Finastra launched a new solution called Fusion Mortgagebot Data Insights, which benchmarks mortgage borrower behavior and demographics for banks and credit unions.
The solution, which leverages machine learning technology, analyzes more than 30 points of data from borrower applications, providing users with a view into everything from application exit points to geographical heatmaps.
“With an average of 1,500 pieces of information gathered for a mortgage application and 1.15 applications submitted every second, the amount of data available to financial institutions is staggering and has the ability to provide meaningful insights that can have a tangible business impact,” said Vincent Pugliese, SVP and general manager of U.S. retail and lending at Finastra. “By reviewing and comparing the 1.5 terabytes of data stored in Fusion Mortgagebot, banks and credit unions can see, for example, how expanding their geographic lending parameters by a few miles or how shifting their minimum credit score threshold can impact the bottom line.”
Real estate technology platform MoxiWorks announced the launch of a a new end-to-end referrals system for its MoxiEngage CRM.
The new system, Intros, gathers and reroutes real estate leads directly into an agent’s MoxiEngage CRM account for follow-up, thus providing users with a robust lead generation and management platform, according to the company.
“Leads need love. Cold internet leads require an agent to contact, qualify, and nurture many leads to discover one customer. Intros accomplishes this,” said Treves Hokama, VP of strategic initiatives at MoxiWorks. “We provide high-activity agents with personal introductions to people who are ready to work with a real estate professional. This will transform an agent’s day, focusing more on people and less on prospecting.”