October/November Supplement Issue by HousingWire

October/November 2021

HOUSINGWIRE MAGAZINE ❱ OCTOBER/NOVEMBER 2021

Fintech

Product Showcase

HOUSINGWIRE EDITORINCHIEF SARAH WHEELER MANAGING EDITOR JAMES KLEIMANN HW+ MANAGING EDITOR BRENA NATH SENIOR REAL ESTATE REPORTER MATTHEW BLAKE SENIOR MORTGAGE REPORTER GEORGIA KROMREI MORTGAGE REPORTER MARIA VOLKOVA LEAD ANALYST LOGAN MOHTASHAMI MEMBERSHIP COORDINATOR SARAHI DE LA CUESTA CONTRIBUTORS SETH APPLETON, ROMI MAHAJAN, STACY MARSHALL, DAVID H. STEVENS

REALTRENDS DIRECTOR OF REAL ESTATE MARK ADAMS EDITORIAL DIRECTOR TRACEY VELT DIRECTOR OF CREATIVE SERVICES BO FRIZE PROGRAM MANAGER LIZ SMITH FINLEDGER DIRECTOR OF PRODUCT HOLDEN PAGE ASSISTANT EDITOR ALEX ROHA REVERSE MORTGAGE DAILY EDITOR CHRIS CLOW

HW MEDIA CORPORATE CEO CLAYTON COLLINS COO DIEGO SANCHEZ DIRECTOR OF FINANCE ANDREW KEY DIRECTOR OF GROWTH CAREN KARRIS DIRECTOR OF EVENTS TRACY GARCIA CREATIVE EMILY CARPENTER MARKETING PROGRAM MANAGER LESLEY COLLINS CLIENT SUCCESS DIRECTOR HALEY HESS WEB DIRECTOR BRENT DRIGGERS PRODUCT MANAGER MATTHEW STAFFORD GROWTH COORDINATOR SYDNEY SMITH EVENTS COORDINATORS KATIE GALBRAITH CLIENT SUCCESS COORDINATORS SETH FREEDMAN, ELIZABETH LEDOUX BUSINESS ANALYST WHITNI ROWE SALES SVP SALES AND OPERATIONS JENNIFER WATSON LAWS CALIFORNIA CHRISTI HUMPHRIES SOUTHEAST TAMARA WREN GREAT LAKES & NORTHEAST MICHAEL ORME SALES STRATEGY ASSOCIATES AMINA JAHIC, LINDSLEY HARRIS PODCASTS AND MULTIMEDIA DIGITAL MEDIA MANAGER ALCYNNA LLOYD JUNIOR DIGITAL PRODUCER ELISSA BRANCH

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CONTENT SOLUTIONS MANAGING EDITOR MALEESA SMITH CONTENT EDITOR JESSICA DAVIS ASSISTANT CONTENT EDITOR JORDAN WHITE WEBINAR MANAGER ALLISON LAFORGIA

HOW TO REACH US LETTERS TO THE EDITOR EDITOR@HOUSINGWIRE.COM TIPS AND STORIES EDITORIAL@HOUSINGWIRE.COM CURRENT MEMBERSHIP / SUBSCRIPTION HWPLUSMEMBER@HOUSINGWIRE.COM NEW MEMBERSHIP / SUBSCRIPTION HOUSINGWIRE.COM/MEMBERSHIP MARKETING & ADVERTISING JLAWS@HOUSINGWIRE.COM OR (469) 8704572 ADVERTISING CLIENT SUCCESS CLIENTSUCCESS@HOUSINGWIRE.COM

OCTOBER/NOVEMBER 2021

A solution for every type of problem I’M GOING TO START THIS NOTE with a con-

common to see the same type of solution a few

fession: writing the two-line summaries of each

times in one section, and, rightfully so, competi-

fintech solution for the table of contents was the

tion is healthy! But this year ’s Fintech Showcase

hardest writing I’ve done in a while. And I write

features 17 companies with unique goals and

and edit for a living!

products that span all parts of the industry, from

It was difficult because each of the solutions in

title to appraisal to servicing and more. It’s excit-

the pages ahead are incredibly complex. Boil-

ing to see, and I hope you enjoy reading them as

ing them down to a few words doesn’t do them

much as I did.

justice. There’s so much I wanted to include for each one: the backstory, the motive for its creation, the passion of the company’s team members, the problems the product is solving and how it solves them. Thankfully, you get all of that and more in the pages beyond the table of contents. I highly encourage you to dive into each product to discovWhat really stood out to me this year was the diversity of these fintech solutions. It’s not un-

Maleesa Smith Managing Editor, Content Solutions @MaleesaJS

OCTOBER/NOVEMBER 2021

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er what great hands the housing industry is in.

Congratulations to HousingWire Vanguard Award winner

Devi Mateti Managing Director, CoreLogic Find

At CoreLogic, we help millions of people find, buy and protect the homes they love. In his role as Managing Director, CoreLogic Find, Devi is responsible for our property intelligence, data licensing and real estate solutions which collectively support the process of targeting, selecting and marketing a new or existing home during the sale process.

corelogic.com

Devi is a pioneer, pushing not only CoreLogic but the industry forward in adopting new technologies to enhance the quality and coverage of property data. Under Devi’s leadership, CoreLogic launched CLIP, an industry-leading property ID. He also led the team to launch CoreLogic’s next generation cloud-based smart data platform.

Oct/Nov 2021

Black Knight

10 Streamlining the mortgage journey for consumers

homegenius

Reggora

CoreLogic

Enabling faster transactions for brokers and their agents

Better connecting lenders and appraisers

HPA, a Cognizant company

Sagent

11 Removing lenders’ collateral underwriting obstacles

DocMagic

17 Supporting Intelligent Automation solutions to deliver secure programs

Nomis Solutions

14 Identifying loans with the highest and lowest risk

Global DMS

Helping orchestrate perfect digital closings at scale

SoftWorks AI Nationwide Title Clearing

19 Enables the creation and tracking of mortgage or lien release documents

Refinitiv

20 Offering effortless access to trusted big data analytics

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Expediting the entire real estate appraisal process

Providing lenders with comprehensive pricing data

Automating integral servicing operations

First American Data & Analytics

Providing a modern experience for borrowers

Snapdocs

Securely storing lenders’ electronic records

FICS

24 Leveraging AI to optimize mortgage processes

Stavvy

25 Navigating complex financial and legal transactions

WFG

26 Automating processes to improve transactions for all

OCTOBER/NOVEMBER 2021

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- SPECIAL REPORT -

Sponsored Content

Fintech Product Showcase Technology is important in digitizing the mortgage process, but what’s more important is effective coordination between all parties. Lenders need to be able to connect with borrowers, as well as other housing professionals, with ease. The problem with technology is that many people work across different systems, which can create a fragmented mortgage ecosystem. To avoid this issue, housing professionals need access to systems that offer seamless integration and feature modern capabilities and extreme flexibility. From automating the identification process to using AI to convert data, lenders need advanced technologies to help them connect and close loans quickly. The 17 companies featured in this section offer platforms that help lenders digitize closings, cut costs and enhance

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the borrower experience.

OCTOBER/NOVEMBER 2021

- SPECIAL REPORT -

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Sponsored Content

OCTOBER/NOVEMBER 2021

- SPECIAL REPORT -

Sponsored Content

BLACK KNIGHT BlackKnightInc.com

BLACK KNIGHT PRODUCT: Ӻ Digital Solutions to Support the Customer’s Homeownership Journey

oday, homeowners expect instant access to information. They desire the ability to start the mortgage application process and then manage their loan when and where it’s most convenient for them. Black Knight delivers several digital solutions to support the full life cycle of the customer’s homeownership journey. Black Knight’s integrated, end-to-end digital technologies deliver a seamless customer experience from start to finish. From loan pre-qualification and approval to processing, closing, servicing and beyond, these powerful solutions enhance the customer experience by enabling the ability to start the mortgage process anytime, from any device. Black Knight’s digital solutions are integrated to form a comprehensive mortgage ecosystem. Customers can begin their home buying journey from any device by using the Borrower Digital solution to quickly prequalify for a mortgage. During the prequalification and loan approval process, loan officers can use Loan Officer Digital from their mobile devices to interact with borrowers and perform tasks on the go. Loan officers can also use Black Knight’s Optimal Blue PPE to provide the best price to their borrowers based on a variety of financing options. Once prequalif ied and connected with a real estate agent on the Paragon Collaboration Center portal, customers can access robust, user-friendly content related to properties actively listed on the market. The Paragon Collaboration Center portal enhances communication between agents, buyers and sellers on any mobile device, and offers the ability to engage with loan officers who are part of an agent’s affiliate team. After loan approval, customers can view their loan status and any fee changes, review their closing package and electron-

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SNAPSHOT: Ӻ Black Knight ’s digital solutions enable consumers to conveniently start the mortgage process and manage their loans – anytime, anywhere.

Black Knight’s integrated digital solutions deliver a seamless customer experience from start to finish

OCTOBER/NOVEMBER 2021

ically sign important documents online using Expedite Close. The easy-to-use, secure portal enables all participants involved in the transaction to collaborate and monitor the status of the closing. After the loan has closed, customers can use Black Knight’s Servicing Digital solution to review loan balances, make payments, see neighborhood comps and explore various payment or refinance options. Finally, Black Knight’s Customer Service solution provides customer service representatives with a holistic view of a customer’s information, past interactions, conversation threads and loan-level detail – all on a single system. This solution includes a web-based view of the screens that the borrower sees within Servicing Digital, further helping representatives deliver superior support and resulting in improved customer satisfaction and retention. Black Knight’s clients appreciate how user-friendly and configurable these digital solutions are, which enables them to leverage the tools within their own digital platforms. The company’s technology also helps clients to enhance their customers’ satisfaction by delivering a seamless, consistent experience. Due to Black Knight’s strong market share and wide range of clients, the company understands the challenges and opportunities faced by lenders of all sizes. Through collaborative business relationships, active industry involvement and decades of experience, Black Knight provides the knowledge and product excellence necessary to help clients optimize performance. These operational efficiencies – paired with end-to-end digital capabilities that span the homeownership journey – enable clients to focus on the customer experience so they can recapture and retain more consumers.

- SPECIAL REPORT -

Sponsored Content

CoreLogic’s Complete Collateral includes data-enabled, exception-based underwriting workflow technology Leveraging the data allows lenders to increase automation and reduce costs while increasing consistency and quality. By applying intelligent automated workflow rules, Complete Collateral brings structure to what has traditionally been an unstructured process. Complete Collateral simplifies the mortgage experience with data-enabled, exception-based underwriting workflow technology. By driving efficiency, this solution ensures housing professionals have more time to focus on other tasks, allowing a quicker turnaround in appraisal reviews and sign-offs. It also helps underwriters identify and fast-track their verification of low-risk properties, enabling them to focus their resources more efficiently, leading to accelerated workflows and reduced costs. While most underwriters can get through one or two loan files per day, after implementing Complete Collateral, clients have reported that their productivity has doubled so that their underwriters can complete three to four loans in a single day. Additionally, Complete Collateral alerts lenders to higher-risk properties and potential red flags earlier in the appraisal process, which helps simplify origination workflows, reduce costs to close and improve overall loan quality. Complete Collateral delivers the data and analytics lending clients need to validate property ownership, value, condition and hazards all on one platform. It not only saves them time but increases transparency at every touchpoint in the loan origination process, helping them build trust with the borrower. With this solution, housing professionals can centralize all collateral-related data needed to automate the decision-making process.

CORELOGIC PRODUCT: Ӻ Complete Collateral SNAPSHOT: Ӻ Complete Collateral provides lenders with the tools to deliver critical decisioning information for underwriters, creating faster decisions and greater confidence in outcomes.

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he mortgage experience can be complex and time-consuming, and the smallest of errors could drastically impede the process. This clear need for a comprehensive suite of solutions that address collateral needs and streamline efficiency prompted CoreLogic to create Complete Collateral. Complete Collateral, part of CoreLogic’s suite of Digital Mortgage Solutions, represents the realization that over the last few years the industry is moving at a pace that far exceeds minor improvements, or even significant improvements. It requires major improvements, reconsidering everything about the appraisal, title and hazard that goes into collateral underwriting, and that’s where Complete Collateral comes in. Complete Collateral serves as a single point of access for crucial property underwriting data. The solution allows users to only work on items that need a human to review and use data to automate everything that doesn’t. This single underwriting system is built on automation and analytics and powered by the industry’s most reliable and current collateral data and insights. Complete Collateral contains everything needed to make a collateral underwriting decision, with property profiles that turn complex valuation reviews into more focused tasks, powering more efficient underwriting reviews. Lenders need the ability to identify issues that can create risk and impact closing earlier in the process for a property, such as “red flag” title matters, valuation concerns or even real-time natural hazard issues. By flagging potential issues on the front end, lenders can reduce last-minute surprises and decrease the time to close.

CORELOGIC www.corelogic.com/buy/digital-mortgage-collateral-solutions

OCTOBER/NOVEMBER 2021

- SPECIAL REPORT -

Sponsored Content

DOCMAGIC www.docmagic.com/evault

DOCMAGIC PRODUCT: Ӻ eVault Technology

he core of any effective eStrategy must include a durable, secure repository to retain all electronic artifacts. The system must be capable of receiving input from all aspects of a client’s workflow and must be integrated into the process to ensure all assets are managed in a consistent, verifiable manner. DocMagic’s eVault reduces cycle times, increases process efficiencies and ensures data and document integrity as well as full compliance for all electronically signed documents throughout the mortgage process. DocMagic’s eVault technology offers real-time control of electronic loan files and provides a proactive solution for lenders to securely access, manage and store electronic records on a short- or long-term basis. The eVault maintains an audit trail of electronic events, retains DocMagic’s proprietary Loan Detail Report of automated compliance audits performed on the loan transaction, and retains data and any documentation that customers wish to store electronically. Lenders that want to offer eNotes or eClosings are going to need an eVault. DocMagic’s eVault was built to handle all facets of the eNote lifecycle. It validates the integrity of transferable electronic records, protects them with a tamper-evident seal, categorizes documents according to MISMO Document Classification standards and seamlessly eDelivers category one SMART Doc eNotes, documents and data via direct integration with the MERS eRegistry. In addition to storing and delivering eNotes, DocMagic’s eVault has been architected to accept virtually any digital asset including eChattel (electronic promissory notes, auto notes, commercial leases, etc.), any type of electronic file including

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SNAPSHOT: Ӻ DocMagic’s eVault is a secure repository where lenders can access, manage and store electronic records on a short or long-term basis.

DocMagic’s eVault Technology enables flexible, modern and streamlined eClosing strategies

OCTOBER/NOVEMBER 2021

authoritative copies, all data formats — TIFF, Word, Excel, PDF, Cat 1 SmartDoc, even audio files. Now more than ever, lenders are looking for mortgage technology that can help streamline the overall loan process. What they need, however, is flexibility in how to deploy their solutions. The flexibility of DocMagic’s eVault technology and its service model allows lenders to plug in only what they need. Like all DocMagic’s solutions, the eVault technology application has been designed API-fi rst, meaning that any functionality released is built as an application interface to be deployed as part of the solution and the client is free to decide whether to leverage it. This tool also allows organizations that are either looking to build or are already building an eClosing platform to engage DocMagic to rapidly integrate electronic components into their solution. These organizations will immediately have the ability to register eNotes with MERS through DocMagic’s eVault technology. The additional power of the solution is that DocMagic offers a fully cloud-based service layer specific to eClosing. Unlike other technology providers that may offer prebuilt functionality designed for a specific environment, DocMagic’s eVault has flexible out-of-the-box capabilities that make it adaptable to any and all eClosing options. DocMagic has been providing eVault technology for more than 20 years and its entire suite of solutions has been designed to seamlessly interact with the eVault. DocMagic has built a huge toolbox that’s ready and available for any modern lender to put together a workflow in the digital mortgage transaction space, especially those looking to offer eClosing options now and in the future.

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Sponsored Content

FICS’ Mortgage Servicer automates servicing operations to increase efficiency and manage compliance

User friendly: According to one user, “It’s not complicated, there aren’t eight screens for one action. It’s the ease of use for both managerial and the end user.” Comprehensive investor reporting: Mortgage Servicer supports agency investor reporting — including Fannie Mae, Freddie Mac, Ginnie Mae and Federal Home Loan Bank — and other industry-standard and private reporting methods. FICS has nearly four decades of experience with investor reporting to the GSEs. Flexible forbearance functionality: Mortgage Servicer provides servicers flexibility with forbearance, deferment and post-forbearance plans as well as the ability to report the necessary information to investors. It also includes loss mitigation, modifications, short sales, and repayment tracking functionality. Workﬂow management: A customizable dashboard tailored to each user’s job responsibilities helps users manage their workload. My Dashboard features interactive dashboards, data visualizations and charts that are easy to create and personalize. My Work List allows further custom-

ization within My Dashboard, providing an efficient option for users to complete each day’s to-do list. Exceptional system support: When users call FICS, a receptionist directs them to the appropriate support person. They won’t lose valuable production time waiting for someone to return calls or answer emails. Open database: Mortgage Servicer provides the freedom to extract all data for any reason. Ex t ra o rd i n a r y va lue: Mor tgage Servicer is a full servicing system, from loan boarding to payoff and secondary marketing. The license fee for Mortgage Servicer isn’t volume-based. Customers don’t pay per loan or by asset size, so organizations can grow without the fear that their growth may come at a high cost. The functionality and value of the system remain at a stable cost as they grow. Time-saving API: Used in conjunction with any third-party scheduling tool, the Mortgage Servicer API lets servicers schedule and automate virtually every program, report and interface in the system, such as end-of-day and end-of-month reports, investor reporting and monthly loan statements. The API saves staff time and resources, eliminates after-hours and weekend work, and reduces mistakes caused by human error. One satisfied customer said, “By using the Mortgage Servicer API to process the end-of-day, it’s cut down from a process that usually took 1-1.5 hours to running in about 15-20 minutes.” Security: Security levels can be controlled and customized by providing access rights as responsibilities dictate, and users can easily monitor access to the system via built-in security reports. Cloud hosting: Mortgage Servicer provides the flexibility to choose an in-house or cloud-hosting solution. Either option is an open database with access to extract all the data.

OCTOBER/NOVEMBER 2021

FICS PRODUCT: Ӻ Mortgage Servicer SNAPSHOT: Ӻ FICS’ Mortgage Servicer software automates servicing operations, including payment processing, escrow administration, investor reporting, custodial accounting, imaging, report writing, workflow and more. Mortgage Servicer customers can also offer their borrowers and investors consumer-facing web applications, allowing online access to loan information and documents.

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hese days, mortgage lenders are looking for ways to automate servicing operations to cut costs, maintain profitability and effectively manage their compliance. FICS’ Mortgage Servicer provides clients with the software to accomplish these goals while simultaneously improving the borrower experience. FICS’ Mortgage Servicer improves the user experience by building in more automation to increase efficiency and help servicers adopt a going-green effort appreciated by many consumers and users. While some of the automation is driven by regulatory changes to help servicers, FICS’ primary objective is to facilitate dayto-day operations and workflow. Mortgage Servicer stands out for several reasons:

FICS www.fics.com

- SPECIAL REPORT -

Sponsored Content

FIRST AMERICAN DATA & ANALYTICS dna.firstam.com/ FIRST AMERICAN DATA & ANALYTICS PRODUCT: Ӻ AppIntelligence Score SNAPSHOT: Ӻ The First American Data &

or larger lenders, driving down cost, effort and time-to-close is crucial. When an underwriting team spends extra time clearing alerts, it slows down workflows and creates inefficiencies. Uncovering the highest fraud risk exposure using a state-of-the-art blended, predictive analytics approach provides lenders with the opportunity to gauge which loan applications require further due diligence. The First American Data & Analytics AppIntelligence Score is an enterprise-level mortgage risk management solution that uses pattern recognition and advanced decisioning technologies, such as AI and machine learning, to deliver a highly accurate score and a precise picture of fraud and early payment default risk. AppIntelligence Score was developed in response to large lenders’ needs for a predictive solution that would enable them to review a smaller sample of loans without increasing their risk exposure. AppIntelligence Score streamlines the loan approval and purchase processes by quickly identifying and scoring loans with the highest and lowest risk. For example, loans with the highest fraud score, usually about 10% of total application volume, typically account for 50% or more of total fraud risk. This targeting enables lenders to pinpoint and focus their reviews on the most at-risk loans, expediting decision-making and reducing operational costs. By targeting the scores in the top risk level, high-volume lenders can reduce reviews to as low as 5-10% of application volume. While these proven, traditional systems work for most lenders, they are less efficient for high-volume lenders. AppIntelligence

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Analytics AppIntelligence Score combines pattern recognition and artificial intelligence to quickly identify and score loans with the highest and lowest risk.

AppIntelligence Score from First American Data & Analytics delivers a precise picture of fraud risk

OCTOBER/NOVEMBER 2021

Score provides significant improvements in efficiency to enable the underwriting function to operate at a higher capacity, while targeting risk that can lead to losses or buyback requests. The solution incorporates millions of data points in the First American fraud index and has been trained to identify patterns associated with different types of fraud schemes, including synthetic identity fraud. Insights from decades of manual underwriter reviews and alert clearances have been fed into the model, so the solution can recognize which alerts were the most predictive of true risk. AppIntelligence Score has multiple sub-models to measure identity, employment, income and other types of fraud. Lenders who use AppIntelligence Score will appreciate the operational efficiencies the solution delivers. Some lenders are also integrating the new AppIntelligence Score with traditional fraud alert models, like the First American FraudGuard® model. With both, lenders get the advantages the AppIntelligence Score workflow solution offers and the insight into the score that FraudGuard can provide for auditing, alert-clearing and research. When integrated with FraudGuard, users can use AppIntelligence Score to prioritize the kinds of alerts that they want to receive. Lenders can also override the score and review certain alerts and/or certain types of loans, regardless of their score. The First American Data & Analytics solution provides lenders with significant improvements in efficiency, enabling the underwriting function to operate at a higher capacity, while targeting risk that can lead to losses or buyback requests.

- SPECIAL REPORT -

Sponsored Content

EVO appraisal management software from Global DMS lowers collateral risk by instantly reviewing reports appraisal process (from initial assignment through final delivery) from one centralized platform. EVO not only allows users to seamlessly manage both lines of business, but its configurability also puts them in direct control of their appraisal management software. Powered by artificial intelligence and advanced cascading decision technology, EVO lowers collateral risk by instantly reviewing appraisal reports as they are delivered by appraisers. This prevents costly and time-prohibitive back and forth revisions. It provides complete visibility via builtin and custom reports, which can be run ad hoc or automatically during any point of the process. EVO also offers sound appraisal compliance via reliable automation – all backed by the industry’s only Compliance Guarantee Program. EVO also boasts the most user-friendly navigation possible that, combined with cutting-edge, intuitive design practices, gets users up and running in days and keeps them running with minimal business interruptions when updates are needed due to process or industry changes. Those who use EVO love that they are able to instantly provide essential information to their teams and other parties as needed, while also being able to track both their vendors and the statuses of their various appraisal orders from one centralized dashboard. They also appreciate its simplicity, as the software is easy to navigate and configure as needed. Global DMS utilized its 22 years of experience working with various mortgage lenders, AMCs, credit unions and appraisal firms of all sizes to produce EVO – a software that yields true results by providing the functionality needed to meet today’s challenges and beyond.

GLOBAL DMS PRODUCT: Ӻ EVO SNAPSHOT: Ӻ EVO is an innovative appraisal management software that ensures compliance adherence, reduces costs and expedites the entire real estate appraisal process.

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n today’s mortgage industry, many organizations have a unique real estate appraisal process that fits their exact business model. Unfortunately, most valuation management technologies follow a one-size-fits-all approach, making it difficult for mortgage lenders, credit unions, AMCs and appraisal firms to work together. Global DMS has solved this problem by creating EVO, an all-encompassing appraisal management platform that allows the user to be self-reliant, so they can easily customize the software to their exact needs in real-time. EVO is an innovative appraisal management software with cutting-edge features and intelligent automation capabilities that ensure compliance adherence, reduce costs and expedite the entire real estate appraisal process – significantly reducing valuation turn-times. The platform’s role-based design, combined with its unprecedented user configurability, delivers the most optimal appraisal process imaginable. What makes EVO so unique is its configurability feature which allows users to create and/or update fields within the system as needed without having to rely on time-consuming and expensive custom development work by third parties – or annoying workarounds. EVO’s configurability also extends to other crucial areas of the platform, including its workflow automation, user permissions, dashboards, communications, forms, reports and more. Additionally, EVO is the only platform available that can fully handle both commercial and residential real estate appraisals. Though many other platforms claim this capability, EVO is the only software that can facilitate and automate the entire commercial appraisal process (from initial bidding to final delivery) and residential

GLOBAL DMS www.globaldms.com/

OCTOBER/NOVEMBER 2021

- SPECIAL REPORT -

Sponsored Content

HOMEGENIUS homegenius.com

HOMEGENIUS PRODUCT: Ӻ geneuity

eal estate transactions can be complex – but real estate software doesn’t have to be. Agents and brokers are constantly looking for a platform that helps them run their business better, and as effortlessly as possible. homegenius solves this problem with its real estate software, geneuity. With contacts, documents and tasks that flow together seamlessly in addition to their local MLS’ property data that is accessed through the system, its beauty lies in what you don’t see, don’t have to do and don’t need to waste time on.

tomated pricing technology, geniusprice. This information used in the geniusprice is sourced from the user’s local MLS, reducing the need to switch between platforms to capture necessary data and assisting the user in estimating the price of a home. This simple software feels more intuitive to the user, not like usual real estate software that can be confusing and may have a steep learning curve to master all its functions. geneuity is ideal for those who want to work through transactions in a more efficient way.

Sophisticated, yet simple software

Products to solve current and future challenges

Designed to remove the barriers that prevent agents from adopting new software, geneuity allows everything to work in a state of flow. A sophisticated yet simple platform, geneuity combines artificial intelligence and machine learning technologies with the tools agents need to do their jobs, into a single, powerful workflow system that is intended to deliver on the promise to make them “the smartest agent in the room.” It’s intuitive so agents can focus on working through transactions in a faster, smarter way so they can manage their relationship with their buyers and sellers, rather than managing their software. Users are voicing their appreciation for the time savings and increased productivity, as well as the easy-to-use interface. With workflows, communications, document storage and e-signatures seamlessly integrated and stored in one place, time isn’t wasted. The platform also includes access to available property data for effortless use of comps via its intelligent au-

In addition to geneuity, there are several digital products and services available through homegenius – all of which are engineered to solve not only the challenges customers and agents face today but also to anticipate and solve for ones they may face in the future. homegenius’ parent company, Radian, ensures the American dream of homeownership responsibly and sustainably through products and services that include industry-leading mortgage insurance and a comprehensive suite of mortgage, risk, real estate and title services. Radian has been in the real estate and mortgage insurance business for several years, quietly working with thousands of real estate professionals and financial institutions creating a foundation of trust and mutual success. Radian and homegenius see the real estate professional as a partner, working to strengthen the brokers and agent’s business with an ongoing commitment to assist those who help people realize the dream of homeownership.

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SNAPSHOT: Ӻ geneuity is a real estate software platform enabling brokers and their agents to work through transactions in a faster, smarter way so they can manage their relationship with buyers and sellers, rather than managing their software.

homegenius’ real estate software geneuity provides one single, powerful workflow to help agents and brokers

OCTOBER/NOVEMBER 2021

- SPECIAL REPORT -

Sponsored Content

HPA’s RPA-as-a-Service enables lenders to reduce risk and automate 85% of the loan cycle process HPA is able to help lenders reduce risk and realize the maximum value Robotic Process Automation has to offer. Whether automating initial disclosures, loan setup, service ordering, lock desk, investor stipulations or countless other steps, HPA’s unique approach comprises an integrated suite of intelligent automation solutions designed to deliver secure, scalable services throughout the mortgage lifecycle, including: • HPA Capture, which records process documentation and creates an output file that structures the process for quick verification. • HPA Core, which operates within the client environment to execute all automation work. A powerful automation Robotic Command Center seamlessly orchestrates all components and robots. • HPA robots, powered by extensible Application Robotic Interfaces (ARIs) to centralize application-specific robotic logic. • HPA’s Intelligent Infrastructure, which optimizes robot infrastructure consumption by dynamically adjusting computing resources to the volume of work. • HPA’s client-facing Service Portal, which gives clients greater control and visibility into their automation initiative, offering a robot marketplace, price quote functionality, online ticketing and a robot analytics dashboard.

HPA, A COGNIZANT COMPANY PRODUCT: Ӻ HPA RPA-as-a-Service SNAPSHOT: Ӻ With over 12 year s o f R o b o t i c Pr o c e s s Automation experience, HPA, A Cognizant Company (HPA), supports an integrated suite of intelligent automation solutions to deliver secure programs that accelerate ROI.

HPA is the leading RPA-as-a-Service provider for mortgage lenders seeking secure, reliable intelligent automation solutions. For more information, please visit hpa. services.

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oan origination is wrought with manual processes that require human touch to move loans forward, which increases the risk of error. Additionally, the typical mortgage origination process can take anywhere between 30 to 60 days or more as each loan passes through several different processes, professionals and functional areas. With the increasingly competitive landscape and evolving borrower expectations, lenders are shifting to digital loan experiences that reduce the need for manual intervention to drive greater accuracy and faster lending decisions. HPA helps clients reduce risk and streamline the mortgage process. Bringing over 12 years of deep automation experience into its comprehensive suite of solutions and methodologies, along with decades of mortgage operations expertise, HPA’s programs scale and deliver value back to lenders. With HPA, lenders can automate 85% of the loan cycle process, saving time and money, to focus more on customers, loan officer retention and scaling their business. They can also keep operating costs at 33% below the industry average, reduce average loan closing time by 20 days and provide on-time closing guarantees to borrowers. One mid-sized lender saved over 525,000 hours of stall time across the loan application operation in one year – now, their overall time from application to close consistently beats the industry average by 30%. HPA has pre-built integrations with leading loan origination, risk management, loan pricing, servicing, analytics and informatics providers, as well as document custody, optical character recognition, and third-party portals. With this ecosystem,

HPA, A COGNIZANT COMPANY hpa.services

OCTOBER/NOVEMBER 2021

- SPECIAL REPORT -

Sponsored Content

NOMIS SOLUTIONS nomissolutions.com

NOMIS SOLUTIONS PRODUCT: Ӻ Nomis Mortgage

ccess to analytics and other pricing data can play an integral part in securing a borrower, but traditional data sources are often too sparse or stale to provide any real competitive edge. Nomis Mortgage was created to solve that need. A complement to an existing PPE or LOS in a lender’s mortgage technology stack, the secure, cloud-native application should be used in tandem to identify areas of price sensitivity, optimize internal operations, and refine competitive strategies. Nomis Mortgage can be implemented in just one day, allowing users to quickly get started translating granular insights into competitive action. Nomis Mortgage analyzes over 40 million records every day from 350+ competitive lenders nationwide. Paired with Nomis’ robust repository of mortgage market data, the solution facilitates more advanced pricing strategies and enables leading lenders to operate more efficient and far more profitable mortgage businesses. Through advanced artificial intelligence (AI) and machine learning (ML) capabilities, Nomis Mortgage pinpoints areas of price sensitivity to enable users to set and confidently execute organizational strategies with intra-daily tracking, as well as understand ongoing market trends and pricing analytics to compete more profitably. Users gain access to historical margin data, more than 35 million daily pricing data points, aggregated metrics, APR distribution and more. Those that subscribe to the Daily Data Snapshot also receive a comprehensive dataset that can be used to model price sensitivity and identify which segments may have the flexibility

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SNAPSHOT: Ӻ Nomis Mortgage is a holistic competitive intelligence tool that combines granular market- and lender-specific data with real-time rates, pricing analytics and actionable recommendations that enable users to quickly identify and act on market opportunities, optimize operations and ultimately, maximize profitability.

Nomis Mortgage delivers a cross section of competitive pricing, market share and transactional data

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to increase margins. Though many fintech solutions offer a selection of this necessary data, Nomis is the only one that delivers a unique cross section of competitive pricing, market share and transactional data, resulting in the most holistic dataset. This level of hyper-transparency can then power a superior, truly aggressive pricing strategy that prioritizes margins and a competitive edge from the very beginning. Nomis Solutions is a global, industry-leading provider with a longstanding history of delivering the most advanced and innovative technologies to financial market participants. Since its inception in 2002, Nomis Solutions has continued to evolve and remains at the forefront of AI/ ML technology with its profitability management and competitive mortgage intelligence solutions. At the end of the day, the right data has the power to level the competitive playing field—at the loan level, at the market level, and among mortgage lenders large and small. There is no denying the mortgage industry is evolving. And while the market remains strong, there is even more competition between housing professionals. In today’s competitive market, lenders need to know they have access to the most accurate and meaningful data. They need to be able to confidently detect areas of price sensitivity to raise margin in those areas and be able to identify where they are losing volume to key competitors. Nomis Mortgage delivers the real-time data and actionable analytics that professionals need to remain nimble, act faster, and scale.

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utsourcing or hiring in-house compliance experts are no longer the only options for servicers who need help handling lien releases and assignment of mortgage documents. With PerfectDocs technology, virtually anyone can prepare, validate, execute, notarize and even record these documents with ease without sacrificing accuracy and expertise. PerfectDocs by Nationwide Title Clearing Inc. (NTC) gives users 100% flexibility and control, which ultimately saves them time and money. The PerfectDocs platform leverages NTC’s eRecord coverage, resulting in a nearly paperless process, with 85% of the volume being electronically recorded. This saves time and money and provides a fast, precise turn time on recorded documents, confirming completion of the process. PerfectDocs provides several impressive features, including: • • • • • • • • • • • • •

Highest eRecording percentage Paperless processing for eRecords Access to attorney network Quality controlled data entry Access to curative services C ount y A nd M E R S complia nt templates Regular county updates Signature and sign-off control POA library establishment Queue-based processing Statute compliance monitoring 99% County fee accuracy County rejects below 1%

PerfectDocs takes the guesswork out of processing lien releases and assignments. The platform tracks exceptions or special handling needs and is supported by NTC’s research services. PerfectDocs is configurable to meet client and state standards for document execution, including signing authorization, assignment of signing teams and notarization logs. Document templates and recording fee calculations are managed by the

same legal, compliance, MERS and state and county teams that support NTC’s overall success. PerfectDocs combines many complex processes into a single, streamlined workflow platform that anyone can use. Among the processes included are thousands of variations of county requirements, recording fees, agency and GSE guidelines, MERS requirements and compliant forms. Even users with minimal training or knowledge of lien releases and mortgage documents can produce compliant documents with PerfectDocs. The system drives the work, asking for information required in each jurisdiction and never requesting more information than is necessary to get the document recorded. Users respond to on-screen prompts, as the PerfectDocs system will not allow users to move forward to the next step without providing the information required to complete the document. The platform drives efficiency through its intuitive data entry options based on state and county requirements, managing keystrokes to only what is required. Automatic and accurate calculation of recording fees for every recording jurisdiction nationwide based on the entered data and document content facilitates seamless entry. These calculations help reduce the potential for country rejects due to inaccurate or incomplete data or incorrect recording fees, which reduces risk and potential legal expenses downstream. In addition, PerfectDocs allows managers to control workflow with “share the work” capabilities. Users can choose which tasks are completed in-house and assign additional tasks to NTC for full-service document processing, an added benefit to disaster recovery and business continuity plans. NTC’s forms stand up under scrutiny, giving users confidence that their documents will be sufficient once recorded and serve their intended purpose. By effectively managing a complex and risk-conscious service, PerfectDocs makes compliance simpler.

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NTC nationwidetitleclearing.com/ perfectdocs/ NATIONWIDE TITLE CLEARING INC. (NTC) PRODUCT: Ӻ PerfectDocs SNAPSHOT: Ӻ PerfectDocs, created by Nationwide Title Clearing, is a web-based solution that enables the creation and tracking necessary to complete all assignments of mortgage or lien release documents.

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PerfectDocs by Nationwide Title Clearing enables the creation and tracking of mortgage and lien release docs

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REFINITIV www.refinitiv.com/en/products/ advanced-mortgage-analytics REFINITIV PRODUCT: Ӻ Refinitiv Advanced Mortgage Analytics

ousing professionals are turning to advanced analytics to better understand risk, increase performance and flexibility. The problem is that mortgage data can be difficult to analyze due to its complexity. Refi nitiv Advanced Mortgage Analytics (AMA) simplifies the complex data transformation process by emphasizing the ability to manipulate and extract data. This high-performance, ultra-dynamic, big data agency mortgage loan analytics platform gives mortgage servicers a competitive edge. With an interface designed to enable flexibility, AMA users are given access to an extensive amount of data. They can build and save reports, share reports amongst users in a firm and perform quick data exports for upload into in-house or third-party analytical tools. AMA allows users to examine their issuance and servicing to either identify and address counterparty concerns or conversely highlight the more saleable aspects of their production. The data-set can be filtered and grouped by over 150 loan characteristics. This enables clients to gain new insights by running multiple nuanced queries instantaneously without coding complex queries. With this platform, new queries can be defi ned with ease; no programming experience or knowledge of SQL is required. AMA features unique ways to present prepayments, including chronological prepayment ramps based on loan seasoning, pool seasoning and seasoning post servicing transfer. Users can quickly find prepay stories that are being monetized by other issuers or find new prepay stories in their own issuance. New content and analyses are also added on a regular basis based

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SNAPSHOT: Ӻ Refinitiv Advanced Mortgage Analytics simplifies a complex data transformation process and immediately offers effortless access to trusted big data analytics.

Refinitiv Advanced Mortgage Analytics simplifies data processes to give servicers a competitive edge

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on regulatory and policy changes, such as non-primary residence percentages and multiple risk factor analyses. Servicing buyers and correspondent buyers use AMA to grow and build their servicing portfolio by analyzing servicing seller strategies, market share and potential adverse selection of MSRs within their own acquisitions. Users appreciate the speed of analytics and ease of customization with AMA. The platform comes with pre-defined template “starting points,” which serve as gateways into different data analytics, including servicing transfers, prepayment ramps, channel analysis, MBS pooling strategy, serving and seller rankings. The ability to monitor prepayment performance allows users to understand how servicing buyers, regulators and GSEs view their CPRs. These reports help to validate and guide longer-term retention, recapture and origination/servicing strategies. AMA also helps provide context around the FHFA/Treasury PSPA caps for compliance and comparisons to other agency sellers. Specific analytics address the non-primary residence caps, cash window caps and risk factor caps. When AMA was first launched, Refinitiv already had a community of over 400 independent mortgage bankers, bank pipeline hedgers and mortgage servicers on the Tradeweb platform. This community accounted for over 75% of U.S. agency MBS issuance. It became apparent that mortgage bankers needed greater transparency in agency issuance and prepay performance, which is what guided the decision to build AMA. Today, this mortgage loan analytics solution offers unparalleled speed, performance and flexibility.

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Reggora connects mortgage lenders with their appraisal vendors to simplify the real estate appraisal process key stakeholders at each lender customer, including the appraisal desk, loan processors, underwriters, loan officers, the executive team and more. With Reggora’s automation capabilities, users have reported saving up to 20 minutes per loan file and take advantage of ultimate configurability to match the unique needs of various roles, teams and branches. Loan officers benefit from increased visibility with automatic status notifications and borrowers get a modern experience with things like easy payment processing. In addition, Reggora offers advanced data reporting capabilities through its GoodData partnership, allowing lenders to become more strategic in managing their appraisal operations. Reggora is able to partner with any AMCs that lender customers work with. But the Reggora platform also includes functionality such as pipeline management, order allocation, automated notifications, and more, making it ideal for lenders managing their own panel of appraisal vendors. Prior to founding Reggora, Brian Zitin and Will Denslow launched a successful real estate brokerage firm, which was their first introduction into the industry. During that experience, they were exposed to the challenges and shortcomings of the appraisal and valuation process and set out on a mission to transform it. As a true technology company, Reggora is building a modern platform that’s paving the way for the future of appraisal and valuation. Reggora has a vision for the future and thrives in hyper-growth to be able to respond to the changing needs of customers based on the ever-changing market.

REGGORA PRODUCT: Ӻ Reggora SNAPSHOT: Ӻ Reggora is a modern appraisal technology company that provides two-sided software to streamline the appraisal process between mortgage lenders and real estate appraisers.

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o handle today’s high demand, housing professionals need access to the best technology. But unfortunately, many are still using legacy systems that were developed years ago. Discovering the modern capabilities, user-friendly interface and extreme flexibility of Reggora’s software can be a total game changer for both lenders and appraisers. Reggora is a SaaS platform that seamlessly connects mortgage lenders with their appraisal vendors. Lenders of all sizes benefit from Reggora, whether they manage their own panel of appraisers, work through an AMC or use a combination of both. Appraisers on the Reggora platform gain access to free tools that eliminate the time spent on tedious tasks. They’ll receive orders from both current and new lenders, easily manage their business through free company management features, and improve overall transparency and organization. For lenders, Reggora helps speed up and simplify all appraisal logistics, contributing to increased capacity and faster close times. Leveraging smart automation, configurable workflows, loan origination system (LOS) and mortgage point-of-sale (POS) integrations, Reggora helps users allocate orders efficiently, create flexible appraisal processes and prepare businesses for the future of valuation. Reggora even offers a modern mobile app that allows housing professionals to stay plugged in regardless of where they are. Reggora connects technology systems and streamlines the flow of information and data. By integrating with major LOS and POS, the SaaS serves a number of

REGGORA Reggora.com

OCTOBER/NOVEMBER 2021

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SAGENT sagent.com

SAGENT PRODUCT: Ӻ CARE SNAPSHOT: Ӻ CARE is Sagent’s consumer platform that links a modern, bank-on-yourphone experience for borrowers with seamless human care from servicers. Borrowers can manage payments and escrows, plus monitor home equity, new off ers and tax matters. They can also act fast and resolve hardships.

Sagent’s CARE platform sets the tone for consumer-first servicing modernization

onsumer-F irst Ser v icing Modernization: Servicing comprises the vast majority of a customer’s borrowing lifecycle, and Sagent CARE brings the same modern experience borrowers get in the origination space to servicing, where lifetime customer relationships are managed and grown. Borrowers can manage loans and get immediate hardship help from any device. And servicer teams can help anytime using the same interface as consumers. This will help servicers improve retention rates which the MBA’s June 2021 Servicing Operations Study reports at just 21%. Sagent’s CARE platform is comprised of four components: 1. CARE Loan Servicing - Powers customer self-serve on performing loans anytime, anywhere. Borrowers can manage payments and escrows, fi nd savings and remain engaged with servicers. 2. CARE Loss Mitigation - Powers customers to self-serve on non-performing loans anytime, anywhere. Borrowers can manage all types of hardship cycles from request to resolution, from any device. 3. CARE Customer Service - Powers servicers to support borrowers using the same UI/UX borrowers are using, take over when they need help and resolve customer needs fast with real-time secure messaging and doc/data sharing. 4. CARE API Marketplace - API platform that lets servicers match their CARE servicing tools with the rest of their consumer experience.

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Sagent CARE sets the tone for consumer-first servicing modernization for three reasons: 1. Retain strong borrowers looking

OCTOBER/NOVEMBER 2021

for savings, new homes, new loans, debt consolidation and other advice. Stabilize struggling borrowers who need immediate hardship care from inquiry to resolution. Seamlessly link servicers’ teams to the customer experience, so customers can get immediate human help with fast, relevant outcomes. Real-time, two-way data sharing so consumer experience and enterprise servicing systems are always linked.

CARE features borrowers love include: Modern experience from any device, making payments in seconds, easily making complex and multi-source payments, fast forbearance and loan mod requests with pre-populated forms, consumer-friendly decisioning results for clear hardship resolution and real-time access to human help. CARE features servicers love include: Easily configurable to custom policies, procedures, customer experience; ability to brand CARE as their own; mobile-first, omni-channel design; real-time data sharing with servicing and default systems of record; supports complex mortgage and non-mortgage loans; powers centralized CSR teams or distributed branches and sub-servicers with same UX as (and co-piloting for) consumers. Real-time configure for real-time compliance: Sagent CARE, as well as Sagent’s servicing and default systems of record, LoanServ and Tempo, are fully configurable at the most granular level, ensuring servicers maintain real-time compliance with real-time market and regulatory changes. This is especially critical — and battle tested — in today’s COVID recovery era where regulator, GSE and Wall Street rules and regulations change in real-time.

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ortgage closings require tight coordination between many parties in a fragmented ecosystem, all of whom have their own systems and processes. To enhance communication throughout the mortgage process, Snapdocs enables lenders to connect with all parties and technologies involved in a mortgage transaction to complete the entire closing process online. Though the components required for digital closings have existed for decades, it previously took lenders months or years to string them together to orchestrate an online closing process – and none of these ad hoc solutions allowed lenders to scale. With Snapdocs, lenders can implement digital closings at scale in as little as one month and quickly start handling higher loan volumes with the same amount of people. Snapdocs’ technology platform is built on a multi-party workflow engine that coordinates the activities of all stakeholders in a mortgage closing, bringing clarity and transparency to every step of the process. This capability plugs into any loan origination system (LOS) or document prep provider, allowing all users to stay in their systems of choice while Snapdocs improves the experience in the background. Snapdocs then employs artificial intelligence to assure accuracy in every document and closing package, eliminating errors and the cost associated with rework. Snapdocs’ powerful AI automatically sorts documents into wet-sign and eSign packages based on the lender or investor’s preference, then annotates the documents for eSigning — a process that’s completed in just a few minutes. Lenders no longer have to manually tag or QC documents after eSignature templates have been applied. Instead, they can completely automate the work that’s needed to prepare documents for hybrid closings or eClosings. With Snapdocs managing the entirety

of the closing process in the background and pushing data and documents to key systems like LOS and POS, lenders now have the freedom to select and change the rest of their tech stack without disrupting their closing process, all while ensuring they’re able to process more loan volume with dramatically fewer errors and no additional human effort. Lenders who use Snapdocs see real ROI from day one because Snapdocs removes manual tasks – like downloading and printing documents or sending emails – across all closings, which saves lenders valuable time. Lenders are able to implement Snapdocs in just a few weeks and digitize 99% of their loan volume in an average of four months. By doing digital closings at scale, lenders can shorten the closing process by two days on average. Lenders appreciate how easy Snapdocs is to implement and use, along with how easy and intuitive it is for settlement agents and borrowers. Last year, when it was not unusual for lenders to grow volume 50% or more, it was also not unusual for Snapdocs customers to handle this surge in volume with zero additional headcount in closings. Snapdocs is a single platform for all closings that uses automated workflows, which allows lenders to maximize operational efficiency and increase loan volume with the same amount of people. And not by coincidence, the very same factors that allow Snapdocs customers to achieve greater efficiency are those that contribute most to a positive borrower experience – error free documents, clear and updated views on status of the closing and ultimately a closing that goes as expected with no last-minute surprises. Snapdocs is a true partner to lenders. Rather than trying to disrupt the mortgage industry, Snapdocs works to gain a deep understanding of how things are done best to help users improve existing processes.

OCTOBER/NOVEMBER 2021

SNAPDOCS snapdocs.com

SNAPDOCS PRODUCT: Ӻ Snapdocs SNAPSHOT: Ӻ Snapdocs is the digital infrastructure that connects the mortgage closing ecosystem in order to orchestrate perfect digital closings at scale.

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Snapdocs helps lenders perform digital closings at scale, shortening closings by two days on average

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SOFTWORKS AI softworksai.com

SOFTWORKS AI PRODUCT: Ӻ Trapeze for Mortgage Automation

or an automation solution to deliver what it promises, it needs to be built with domain expertise – not just in AI but also in the processes that it’s automating. SoftWorks AI’s Trapeze for Mortgage Automation is where mortgage and AI expertise meet. Trapeze is a purpose-built solution designed to streamline different aspects of the mortgage lifecycle, from origination to post-close review, by converting documents to data with extreme accuracy and speed. The solution leverages advanced computer vision and machine learning to achieve the highest accuracy rates in the industry. Trapeze uses advanced technologies to automate the identification, classification, prioritization and assembly of loan packets and their data. It extracts and validates critical data from input documents with exceptional accuracy, helping teams approve or deny loan applications faster and with less effort. No matter the file type, structure or data field locations, the solution can reliably extract the critical information needed to make loan decisions with both exceptional speed and accuracy. Trapeze also ensures that the extracted data tells a consistent lending story by cross-validating information across the loan packet. Unlike off-the-shelf or generic solutions, Trapeze is purpose-built for mortgage. With over 680 distinct documents and 6,300 data fields available “out of the box,” organizations can leverage Trapeze’s highly accurate automation capabilities literally in minutes. And that built-in library is ever-expanding. Whereas many solutions are static, SoftWorks constantly innovates and improves Trapeze based on industry and client news and feedback. Subscribed clients receive continuous updates, such as additional forms and data fields, improved accuracy and new capabilities to help further automate their business. Generating reliable data that clients

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SNAPSHOT: Ӻ Trapeze for Mortgage Automation leverages deep expertise in AI to optimize the processes throughout the mortgage lifecycle by converting documents to data with extreme accuracy and speed.

Trapeze for Mortgage Automation from SoftWorks AI converts documents to data with accuracy and speed

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can trust allows users to move valuable resources away from “stare and compare” activities and towards more productive tasks. Workers can process more loans more accurately and in less time. By substantially reducing the need for humans to “double-check” the data, clients can process more information without an increase in labor costs and time. Furthermore, clients are seeing improvements in customer experience because the solution provides borrowers with real-time feedback and confirmation at document submission. T he s e cl ient s a r e e x p er ienc i ng straight-through-processing of over 90% with pass-through accuracy of 99.5%+ and are seeing up to a 90% reduction in document processing time. With SoftWorks’ secure cloud-enabled processing, clients can dynamically scale lending capacity up or down to meet market demand. This has provided them with a truly competitive advantage, in that they can easily handle dynamic loan volumes and dramatically shorten cycle times, all while maintaining the extremely high accuracy rates that are so crucial in the mortgage industry. The speed, accuracy and high levels of automation that Trapeze delivers translates into boosted revenues and clear ROI for their clients, including some of the biggest lenders in the nation. The company is in the process of releasing enhanced underwriting capabilities such as Verification of Income and Verification of Assets, cash flow analysis, document versioning (deciding final/most recent version), expanded document and field coverage, cross-validation for data consistency and tighter integrations with popular LOS platforms. SoftWorks AI’s focus to drive towards 100% straight-through processing translates into a solution that is always improving and getting ever-closer to truly touchless automation.

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t Stavvy, they believe the promise of a fully digital mortgage has not yet been realized. Fragmentation, inefficiency and outmoded regulations still plague the consumer mortgage experience. Requirements such as in-person meetings, physical fi les and documents and pen-and-paper signatures — which have been the norm for as long as anyone can remember — are no longer just inconvenient, but are now impractical for consumers and lenders alike in a post-COVID world. As state and federal regulations are poised to (slowly) move the industry forward in the coming years, Stavvy has built a suite of tools to solve these problems today. While technology has improved processes for many industries, the way a home loan is transacted still hasn’t changed much over the years. In some cases, it has become even more complicated as disparate pieces of the process have been digitized in a silo without considering the bigger picture. In most loan origination or modification situations today, consumers are talking to multiple parties: their lender, their realtor, a notary, a title company and others. These parties don’t have streamlined communication which leaves the heavy lifting to the consumer to navigate the disparate processes. Often, there’s no central file depository for vital documents and files are not sent securely via email or through a hybrid mix of Fed Ex boxes and customer portals. This is not only a security risk (potential for fraud and exposure of sensitive data), it can also bring the mortgage process to a grinding halt if a file is stuck in someone’s email inbox. Stavvy’s solution securely digitizes every aspect of the process, not just replacing pen and paper with electronic documents and signatures but rethinking the entire workflow, enabling collaboration, validation and transparency. The end result is a best-in-class consumer experience and the creation of a truly digital asset that meets the needs of both up and downstream stakeholders. Consumers today are used to digital

experiences that are designed with them in mind. Most of the digital tools that are involved in the mortgage process include a consumer-facing interface that was designed as an afterthought. While there are “digital file sharing” or “electronic notary” services that are built with a consumer-fi rst mindset, none of these tools were purpose-built for real estate transactions by veteran banking, security and legal professionals and often they don’t play well with the tools that lenders are already using. Stavvy aims to solve this with its all-inone platform that is built for all parties, including both consumers and lenders. Stavvy has all the tools that mortgage banking professionals need, consolidated and integrated into one single platform that is easy to use and fits into their existing workflows. This includes remote notary capabilities, video conferencing tools, electronic document review and signing features, secure storage for video conferences, data, documents, and integration with industry-standard platforms. Stavvy meets all relevant compliance standards with automatic video recording plus secure retention of documents and video — a higher level of security than the traditional paper process. By removing the biggest headaches and roadblocks lenders traditionally face, Stavvy enables them to delight their own clients with a streamlined process that takes up less of their time. Consumers appreciate using a platform that is built with a “human-first” philosophy, and that removes the need to interact with multiple “portals” or juggle a number of disparate accounts and logins. Stavvy allows consumers to conduct transactions like mortgage origination or loan modifications from wherever they prefer, at a time that is convenient for them, and with confidence that they understand and have ownership over the entire process. Stavvy is here to transform how business is conducted remotely by making complex legal and fi nancial transactions easier, safer and more accessible to all.

OCTOBER/NOVEMBER 2021

STAVVY www.stavvy.com

STAVVY PRODUCT: Ӻ Stavvy SNAPSHOT: Ӻ Stavvy is enabling digital transformation by helping organizations navigate complex financial and legal transactions easily and safely, enabling critical tools such as remote notarization, video conferencing, eSignature, secure document storage — putting customer experience at the forefront.

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Stavvy’s all-in-one platform makes legal and financial transactions easier, safer and more accessible

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WFG wfgls.com/products-and-services/ myhome-exchange/ WFG ENTERPRISE SOLUTIONS PRODUCT: Ӻ Ӻ WFG’s MyHome

ince its founding in 2010, WFG National Title Insurance Company has worked to advance the real estate, mortgage lending and title industries, adding greater efficiency and accuracy to processes and a vastly improved experience for consumers. In a recent industr y sur vey, WFG Enterprise Solutions identified that key concerns throughout this multifaceted industry include: • Process inefficiencies • Communication, signing and closing issues • Data quality Addressing these key issues is at the heart of WFG’s MyHome design, and continues to be the driving force behind each enhancement. WFG Enterprise Solutions launched MyHome Exchange as a way to bring borrowers on board early on in the real estate process. It significantly improves the consumer experience by providing a convenient, secure and intuitive self-service ecosystem that increases operational capacity by reducing application-to-close turn-times, eliminating operational redundancies and improving lender throughput, resulting in more closed loans. As a complete, end-to-end solution, WFG’s MyHome supports the entire transaction continuum, from data collection to closing. It allows for early and clear communication and greater transparency throughout resale and refinance transactions. MyHome also streamlines the settlement process and increases throughput by eliminating duplicate touchpoints, enabling proactive communication, and facilitating data and document collection, storage and sharing. By connecting transaction participants and significantly improving the consumer experience with greater convenience, security, transparency and intuitive self-ser-

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SNAPSHOT: Ӻ WFG’s MyHome automates manual processӺ es to enable proactive communication, data and document collection and sharing, resulting in an improved experience for consumers and other real estate transaction participants.

WFG’s MyHome solution brings borrowers on board early on in the real estate process, improving their experience

OCTOBER/NOVEMBER 2021

vice, WFG’s MyHome provides borrowers and buyers with an unparalleled experience. This solution includes personalized communications with direct text, email and dashboard notifications. MyHome even alerts participants of important milestones throughout their transaction, so they’re always up-to-date. Focusing on products and technology solutions that improve the customer experience is a differentiator for MyHome, as well as the Williston Financial Group family of companies in general. Much of MyHome’s uniqueness stems from the process by which the company’s technology subsidiary WEST, a Williston Financial Group company, develops enterprise solutions and technology products. WEST’s product development process drives how WFG Enterprise Solutions and the rest of the WFG family of companies engage with their customers and consumers. WFG’s MyHome is sophisticated, but its information wizard and dashboard are both elegant and simple to use. This is key to engagement in combination with multiple LOS integrations, as it vastly improves transactional efficiency. The secure online collaboration space that MyHome creates for transaction participants helps ensure the full exchange of data upfront from the consumer. In fact, when the company sends WFG’s MyHome links to consumers to initiate the process, engagement and turnaround times improve significantly, with data and document uploading and subsequent follow up taking place the same day or the next day in most cases. This is a vast improvement over the prior process of repeatedly requesting this information via phone and email, which could take weeks or more to complete. In the future, WFG’s MyHome will play a broader and more central role in the digital closing evolution.

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HOUSINGWIRE Daily A deeper look into the HousingWire newsroom's most compelling stories.

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Listen here: housingwire.com/podcast

OCTOBER/NOVEMBER 2021