FinTech

Mortgage Tech Rundown: FormFree, NetDirector and QuestSoft

The latest in mortgage and real estate technology

FormFree, a provider of technology solutions for the mortgage industry, announced a new partnership with lead generation platform Teo.

Through the partnership, Teo will now leverage FormFree’s Passport verification service to help assess the quality of incoming prospects.

Once leads are pre-screened to ensure quality, Teo’s AI assistant then manages follow-up communication using the prospect’s preferred channels to quickly convert leads to loans, according to the company.

 “When it comes to the digital superhighway, if you’re not first, you’re last,” said Brent Chandler, FormFree’s founder and CEO. “Our Passport verification services are already used by thousands of lenders to gain insight into loan applicants’ ability to pay, and by partnering with Teo, we’re moving those insights even earlier in the sales funnel to power an entirely new way of engaging with prospects.”

NetDirector, a cloud-based data exchange and integration platform for the default servicing industry, announced several updates to its core integration offerings.

Among the offerings include the EZTran Suite, which is a collection of no-coding, high customization options for events, documents, document requests and more.

Additionally, the company launched another new transaction option called Fees & Costs, which is automated for the Black Knight Bankruptcy and Foreclosure solution.  The offering is a transaction that a firm can receive directly from Black Knight’s Bankruptcy/Foreclosure application when a servicer has requested fees and costs.

“Our cloud-based integration platform has always been quite versatile. EZTran takes our service to the next level with zero coding options for rapid deployment of new automation,” said Harry Beisswenger, NetDirector’s CEO. “We will continue to innovate and expand our automation and integration offerings into the future, and we look forward to collaborating with our existing and future clients to help develop even more innovative services.”

Automated mortgage compliance software company QuestSoft announced the addition of a new CRA Saleability module to its Compliance EAGLE platform.

According to the company, the CRA Saleability tool will help lenders identify potential investors based on geographic location. The new module will also enable lenders to uncover additional opportunities for revenue generation through the identification of CRA-qualified loans in low- and moderate-income areas at the point of application.

“The CRA Saleability tool helps lenders identify opportunities in LMI markets while maximizing the return on investment possible in the secondary market,” said Leonard Ryan, QuestSoft’s founder, and President. “This is just another example of how big data can help lenders become more profitable while simultaneously demonstrating their commitment to the communities they serve.”

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