December 2021/January 2022 Supplement by HousingWire

December 2021/January2022

HOUSINGWIRE MAGAZINE ❱ DECEMBER 2021/JANUARY 2022

2021 Housing Industry Solutions Guide

HOUSINGWIRE EDITORINCHIEF SARAH WHEELER MANAGING EDITOR JAMES KLEIMANN HW+ MANAGING EDITOR BRENA NATH SENIOR REAL ESTATE REPORTER MATTHEW BLAKE SENIOR MORTGAGE REPORTERS BILL CONROY, GEORGIA KROMREI REAL ESTATE REPORTER BROOKLEE HAN MORTGAGE REPORTERS FLÁVIA FURLAN NUNES, MARIA VOLKOVA LEAD ANALYST LOGAN MOHTASHAMI MEMBERSHIP COORDINATOR SARAHI DE LA CUESTA CONTRIBUTORS CAITLIN GREEN, ROMI MAHAJAN

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

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HW MEDIA CORPORATE CEO CLAYTON COLLINS COO DIEGO SANCHEZ DIRECTOR OF FINANCE ANDREW KEY DIRECTOR OF PEOPLE AND CULTURE AMY BEARD DIRECTOR OF GROWTH CAREN KARRIS DIRECTOR OF EVENTS TRACY GARCIA CREATIVE EMILY CARPENTER MARKETING PROGRAM MANAGER LESLEY COLLINS STRATEGIC ACCOUNT DIRECTOR HALEY HESS WEB DIRECTOR BRENT DRIGGERS PRODUCT MANAGER MATTHEW STAFFORD GROWTH COORDINATOR SYDNEY SMITH EVENTS COORDINATOR 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 MARKETING MANAGER TOD MOHNEY SALES STRATEGY ASSOCIATES AMINA JAHIC, LINDSLEY HARRIS PODCASTS AND MULTIMEDIA DIGITAL MEDIA MANAGER ALCYNNA LLOYD JUNIOR DIGITAL PRODUCER ELISSA BRANCH 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

December 2021/January 2022

What a year THE close of this year and the beginning of 2022

clear that the housing industry as a whole is not

leave me with one question: was 2021 really just

returning to its former self. The digital accelera-

2020 part 2? For the most part, employees contin-

tion that occurred across all facets is inextirpable.

ued in a hybrid, if not fully remote, work scenario.

In the pages beyond, we’ve compiled the ultimate

We logged on to countless Zoom calls and over-

look at solutions developed across servicing, real

used the phrase “new normal.”

estate, title and more. It’s been quite a year, and I

But there were also glimmers of “the olden days.” From MBA Annual in-person in San Diego to

know I’m not alone when I say I’m excited to see what’s ahead in 2022.

HousingWire’s own in-person HW Annual in Frisco, Texas, we had the chance to dust off blazers and business cards. For me personally, it equated to eight blisters – yes, I counted – after a single day in heels. Pain aside, it was wonderful to see familiar faces again and meet folks I had only seen I anticipated. Even with signs of pre-COVID life returning, it’s

Maleesa Smith Managing Editor, Content Solutions @MaleesaJS

Millennials 2021: Will the housing market hurry up and crash already!

December 2021/January 2022

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on video calls. Many of you are much taller than

2022

G A G

Celebrating the mortgage & real estate industries'

2022

R E A L

E S T A T E

most innovative technology companies Nominations close December 17, 2021 housingwire.com/tech100 or scan here

December 2021/ January 2022

Loan Servicing Solutions

Fintech Product Showcase

8 Helping lenders overcome the common challenges associated with large volumes.

Lead Gen & Conversion Solutions

18 Offering innovative capabilities that meet today’s buyer’s expectations.

Title Companies & Solutions

24 Simplifying communication and offering tools to securely and quickly transfer title data.

Valuation Tech

Real Estate Tech Solutions

46 Leveraging technology so real estate professionals can provide excellent customer service.

Wholesale Lenders

50 Helping brokers handle high volumes so they can close loans faster and more efficiently.

eClosing Special Reports

62 Enabling lenders to connect with all parties involved in the mortgage process, 100% online.

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Providing virtual solutions to speed up the process and eliminate errors that impact homebuyers.

December 2021/January 2022

72 Digitizing closings, cutting costs and enhancing the borrower experience to improve the process.

Origination Platforms & Solutions

92 Allowing lenders to maximize efficiencies across the origination process.

Point of Sale Solutions

102 Reducing the work involved with integrating third-party applications and streamlining operations.

LENDINGLIFE The newsletter designed with Loan Originators in mind.

Get the latest lending news delivered to your inbox with HousingWire’s LendingLife Newsletter. Stay up to date and be the expert in the office and online.

GET ON THE LIST: housingwire.com/newsletters

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Loan servicing solutions special report The COVID-19 pandemic continues to impact the mortgage industry, and servicers are dealing with increased call volume as borrowers transition in and out of forbearance and make decisions regarding the future of their homes. Communicating with borrowers, ensuring portfolios are in compliance and leveraging technology to find efficiencies are crucial in the current environment. The seven companies featured in this section offer innovative capabilities to support all sizes of portfolios and every aspect of servicing. These solutions enable lenders to manage their workflow by overcoming the common challenges associ-

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ated with large volumes.

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December 2021/January 2022

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Sponsored Content

- SPECIAL REPORT -

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BLACK KNIGHT blackknightinc.com

THE EXECUTIVES:

ANTHONY JABBOUR CEO Anthony Jabbour is responsible for the company’s overall vision and direction. He is passionate about delivering innovative solutions across the loan life cycle that help lenders and servicers retain existing customers, gain new customers and operate more efficiently.

JOSEPH NACKASHI PRESIDENT Joseph Nackashi is dedicated to Black Knight delivering integrated and innovative solutions that help transform the industry, and is committed to providing superior client support and helping clients achieve greater levels of success.

SHELLEY LEONARD

Black Knight’s industry-leading servicing solutions help servicers streamline forbearance and loan modifications

lack Knight provides industry-leading servicing solutions, which includes the best-in-class servicing platform, MSP, as well as several innovative capabilities that support all size portfolios and every aspect of servicing, from loan boarding to default. The Black Knight MSP loan servicing system automates all areas of loan servicing, increasing operational efficiencies and reducing the cost of supporting separate systems. MSP’s broad-based functionality supports a wide range of loan products, including home equity loans and lines of credit. Using a single, integrated servicing system makes it easier for servicers to provide excellent service to their customers during these busy times. The economic impact of the COVID-19 pandemic has forced mortgage servicers to modify many processes to support their customers. Notably, the pandemic has resulted in a surge of COVID-19-driven forbearance requests. As a result, servicers need an efficient way to both manage the increased volume of forbearance requests, as well as prepare for a surge in prepayment plans when forbearance periods end. Black Knight has made several investments in and enhancements to MSP, and other suites of solutions that integrate with MSP, to address this need. As an example, Black Knight offers a comprehensive Loss Mitigation system, which is tightly integrated with MSP and can easily support loans as their forbearance plans end. This solution includes preconfigured capabilities and delivers end-to-end functionality that helps significantly streamline forbearance and loan modification processes. Black Knight also added functionality to Loss Mitigation that

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CHIEF PRODUCT AND DIGITAL OFFICER Shelley Leonard leads Black Knight’s enterprise product strategy and is responsible for defining the company’s product and digital initiatives, which are focused on helping our clients increase customer satisfaction and retention.

December 2021/January 2022

allows business users to extend and adjust forbearances in bulk. In today’s competitive market, servicers can distinguish themselves by elevating the level of service they provide to their customers. Black Knight’s innovative Customer Service solution is fully integrated with MSP and assists customer service representatives in providing proactive, personalized borrower support, faster responses and increased transparency. Black Knight’s Servicing Digital solution is another powerful tool that helps servicers deliver superior support and empower their customers. Servicing Digital gives consumers the ability to make loan payments from their mobile devices, and offers detailed, timely and personalized loan information. In fact, consumers can also request extensions to their existing forbearance plans directly within Servicing Digital, which servicers can review in MSP. “As an industry leader, Black Knight’s ability to develop and integrate advanced products, data and analytics across the loan life cycle and to support our growing client base is second to none. We are committed to helping servicers successfully navigate the unprecedented challenges of COVID-19, while providing the tools necessary to delight their customers,” said Joe Nackashi, president of Black Knight. Black Knight continues to innovate and make significant investments in its products, regularly introducing new and enhanced solutions that help servicers successfully navigate the challenges of changing market conditions, including those experienced during the COVID-19 pandemic. In turn, servicers can address critical client needs to improve profitability and retain customers.

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ortgage servicers are staying busy. Whether they’re working with borrowers on forbearance plans or helping them refinance their homes, servicers are handling incredibly high call volumes. And during these hectic times, they could benefit from a solution that manages their portfolio to ensure they’re making well-informed decisions. Clear Capital’s suite of field valuations, real estate analytics, and platform technology solutions help servicers prevent fraud, check the accuracy of completed appraisals and broker price opinions (BPOs), conduct portfolio valuation analysis and updates, and help with disposition analysis on distressed loans. Most of all, they help servicers evaluate and mitigate the risk of investments in a timely manner. “Leveraging our own real estate data and analytics to amplify our broker- and appraisal-based valuation services, Clear Capital delivers highly accurate information with rapid turn-times and a robust quality control process,” said Kenon Chen, EVP of corporate strategy. “Our solutions are highly compliant and follow the most stringent guidelines and valuation requirements.” Cost, time, and compliance are three of the major roadblocks faced by lenders. Even before the coronavirus pandemic, some servicers struggled to streamline the loan processes — especially when dealing with properties with higher valuation fees, operational costs, and longer loan processing times. Not to mention, it can be difficult for servicers to identify collateral that needs a more in-depth look at the start of the loan process, which can lead to additional obstacles. Clear Capital’s Complexity Score technology can help servicers determine the robustness of the valuation product needed for

each property, ensuring that risk is mitigated while maintaining lower costs and time-efficiency. By paying close attention to what they really need, Clear Capital ensures customers get the best valuation products without overpaying. The company recently launched ClearLabs, an in-house research and development group that works alongside industry leaders and government-sponsored enterprises (GSEs) to continually build on what’s possible in compliant real estate valuation and analytics. ClearLabs has brought innovative solutions to the ma rket, including OwnerInsight, a first-to-market homeowner-enabled appraisal inspection tool, available for free to all lenders, appraisers, and AMCs. The department also unveiled its Modern Appraisal Program, which provides servicers turnkey access to the industry’s emerging bifurcation initiatives for origination loans. “Our company goes wherever it leads and does whatever it takes to serve our customers,” said CEO Duane Andrews. “We use analytics and technology to solve the challenge of having the right valuation product, at the right time, every time — ensuring our customers get some of the best valuation services in the industry.” With an in-house team of more than 700 members across the country, Clear Capital was able to roll out several platforms to help mortgage servicers make confident lending decisions that save time and money. “Our 20 years of valuation expertise, innovative research and development through ClearLabs and dedication to offering the best customer service set Clear Capital apart from others in the industry,” said Jeff Allen, EVP of innovation labs.

December 2021/January 2022

CLEAR CAPITAL ClearCapital.com

THE EXECUTIVES:

DUANE ANDREWS CEO Duane Andrews works alongside more than 700 dedicated “nice people” to provide valuable services for nearly all of the top 100 U.S. lenders and nearly every mortgage investor, including the GSEs.

KENON CHEN EXECUTIVE VICE PRESIDENT, CORPORATE STRATEGY Kenon Chen sits at the intersection of our executive, product, marketing, and sales teams. Since the beginning of Clear Capital, Kenon has developed and launched some of our most forward-looking solutions, including ClearProp and ClearCollateral.

JEFF ALLEN EXECUTIVE VICE PRESIDENT, INNOVATION LABS Leading ClearLabs, Clear Capital’s in-house innovation lab, Jeff Allen heads projects focused on advancing the collateral valuation industry into the future, including research and development projects focused on emerging technologies, market research, and early-stage product incubation.

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Clear Capital’s Complexity Score technology can help servicers choose the right valuation product

- SPECIAL REPORT -

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CORELOGIC Corelogic.com

THE EXECUTIVE:

CATHERINE CASTLE PRINCIPAL OF PRODUCT SOLUTIONS, ADVISORY MANAGEMENT

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Catherine Castle leads the CoreLogic Solution Engineering Team within the Data and Advisory Solutions Product Team. Castle is responsible for client engagement and solution consulting.

CoreLogic’s Portfolio Insights and Monitoring Solutions provides servicers with actionable insights

n the days of COVID-19 and the CARES Act, mortgage servicers are staying busy working with borrowers as they make decisions regarding the future of their homes. To help vulnerable homeowners, servicers need to be able to identify and understand potentially hidden portfolio risks so preventive action can be taken to avoid potential losses. They need to ensure adherence to regulatory requirements and obtain required data for reporting in a timely manner. Integrating a flexible, client-specific solution that utilizes the most robust and comprehensive analysis available is critical. C oreL ogic ’s Por tfolio Insight s & Monitoring Solutions combines a broad set of data – including public records, credit, tax and natural hazard – with leading analytics to create a one-stop shop for servicers. Portfolio Insights & Monitoring addresses portfolio risk and compliance by providing ongoing insights to specific changes in a servicers’ portfolio. By using these insights into triggers such as lien priority status, collateral valuation analysis, borrower credit analysis, hazard profiling and event risk, compliance managers can act quickly to mitigate losses and minimize risk. “The ability to do comprehensive, multi-faceted monitoring and analysis at scale sets our Portfolio Insights & Monitoring Solutions apart,” said Catherine Castle, principal of Product Solutions, Advisor y Management at CoreLogic. “Many of our competitors can only offer a small number of data points or more limited regional views.” Portfolio Insights & Monitoring also supports borrower retention and cross-sell opportunities. Through an analytical approach, this product can identify borrowers that are at risk for early payoff or identify opportunities to expand a servicer’s

December 2021/January 2022

existing relationship with the customer. The suite is anchored by Clear 365 and provides real-time portfolio monitoring so servicers can stay ahead of the curve when it comes to emerging threats and opportunities. Clear Snapshot is also offered and provides a single analysis on the health of a portfolio, merging credit and public record data for an enriched view. “Many CoreLogic clients are utilizing Clear Snapshot to integrate the key data attributes needed for various ‘ad-hoc’ type decisions into one platform,” continued Castle. “Clear Snapshot delivers voluntary liens, collateral valuation and credit reporting information to achieve these efficiencies.” Armed with these actionable insights, servicers are able to spend less time validating liens and more time making timely, informed decisions about new threats and emerging opportunities. Portfolio Insights & Monitoring also has add-on options for Total Home Value, TrueStandings, Tax Portfolio Monitoring, Flood Adequacy, TaxWatch, Hazard Impact Reporting, Pre-Event Hazard Analysis, CoreLogic Real Estate Analytics Solutions, MLS Triggers, Loan Payoff Solution and the company’s patented Propensity Models. “While many offerings focus on just one aspect of portfolio servicing, leading to the need for multiple providers, CoreLogic delivers a robust and comprehensive suite of solutions and analysis; not only identifying risks in a portfolio but highlighting opportunities as well,” said Castle. Due to the continuing economic challenges stemming from the COVID-19 pandemic, many anticipate an increase in portfolio risk and defaults in 2021. With CoreLogic’s Portfolio Insights & Monitoring, servicers can integrate key data attributes into one platform and experience significant advantages in terms of speed, cost, audits and compliance.

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oday’s servicers are working in a challenging environment due to several compounding factors. For one, the mortgage industry is experiencing historically low interest rates, which have set in motion a refinancing boom that has dramatically increased lien release volume processing. Secondly, the coronavirus pandemic has created a critical need to provide timely and compassionate borrower relief in the form of forbearance and loan modifications. The pandemic disruption to normal mortgage business operations and forced business closures has placed additional strain on the hiring and training of new employees with relevant experience to address workflow volume spikes associated with refinancing and loan modifications. The industry has also seen heightened regulatory scrutiny, which requires greater transparency and compliance. These factors combined have created something of a perfect storm – increased volume and scrutiny without the ability to effectively staff up. Lenders and servicers need flexible options to manage the demand for lien release and loan modification requests efficiently, leveraging skilled expertise, automation and integration. F i r s t A mer ic a n’s ma rke t- le ad i ng CleanFile Solutions lien release services and FirstMod loan modification suite enables lenders to outsource the workflow process to overcome the common challenges associated with processing large or inconsistent volumes, minimizing compliance risk and realizing greater efficiencies. FirstMod is a comprehensive suite of services that includes: insured and uninsured title data products, document generation, multi-channel delivery, document signing and recording, as well as lien priority insurance. By using FirstMod, servicers can increase operational efficiency, reduce costs and speed up resolution throughout the loan modification process. “The mortgage industry is experienc-

ing roller coaster-like market conditions,” said Chris Brinkley, First American Mortgage Solutions senior vice president of post-closing and servicing. “By outsourcing workflows like lien release and insured and uninsured loan modification services to First American, servicers can not only manage these rapidly changing market conditions without adjusting staff, they can apply their staff to more critical business objectives.” First American understands compliance complexities and adheres to local, state and investor guidelines. With their lien release and FirstMod solutions, lenders and servicers can minimize compliance risk, while also better managing inconsistent, large volumes. The company’s industry-leading metrics on turn times, reject rates, and compliance scores enable servicers to realize improved overall performance. In addition to default services, First American’s CleanFile Solutions providescompliant and easy-to-implement lien release services, supported by the largest database of U.S. recorded document images. Spanning lien release generation, signing, recording and even trustee service. First American’s products and services provide a complete lien release solution that can be leveraged to support volume spikes or outsource the entire process to redirect staff in other areas of the business. For lenders and servicers, it will be more important than ever to start 2021 off with the right resources and partnerships to effectively turn the tide on pandemic response. “Our teams provide a proven solution to support lenders through these turbulent market conditions, while complying with stringent regulatory requirements,” said Brinkley. “By providing a flexible outsourcing model for lien release, partial claim and loan modifications, lenders and servicers can strategically redirect existing internal resources.”

December 2021/January 2022

FIRST AMERICAN MORTGAGE SOLUTIONS firstam.com/mortgagesolutions

THE EXECUTIVE:

CHRIS BRINKLEY SENIOR VICE PRESIDENT, POST-CLOSING AND SERVICING Chris Brinkley is the senior vice president of the post-closing and servicing division for First American Mortgage Solutions with more than 25 years of experience leading business operations, performance excellence, and global delivery platforms at First American and other national mortgage servicing companies.

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With First American’s FirstMod loan modification suite, servicers can speed up resolution and reduce costs

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FREDDIE MAC sf.freddiemac.com/ servicinggateway

THE EXECUTIVES:

DAVE LUCCHINO SENIOR VICE PRESIDENT, SINGLE-FAMILY OPERATIONS Dave Lucchino oversees a variety of critical processes that support Freddie Mac related to origination, servicing for performing and non performing loans, and investor partners.

KEN BURKE VICE PRESIDENT, SERVICING OPERATIONS Ken Burke leads a team which includes loss mitigation, investor reporting, default fees and claims, non performing loan management, and Homesteps/REO.

Freddie Mac’s Servicing Gateway allows servicers to access a variety of essential tools via a single sign-on

ncreased delinquency volume as a result of the COVID-19 pandemic has amplified the need for servicers to work smarter, not harder, and respond quickly to struggling homeowners. Thankfully, there’s a tool that allows servicers to do just that. Freddie Mac’s Servicing Gateway offers one platform, one login and one doorway to Freddie Mac servicing tools. The platform hosts 15 tools to support the servicing lifecycle for 14,000 external users (1,300 servicers), which has almost doubled since launching the platform in 2019. Servicing Gateway addresses today’s market demands by providing servicers with a single sign-on and consistent experience to access a variety of essential tools to service performing and nonperforming loans. “We feel the weight of our current challenging climate and that fuels our mission to transform default management,” said Cecelia Raine, senior director, Reimagine Servicing Strategy and Integration for Freddie Mac. “We’re doing that by creating future tools within Servicing Gateway to improve servicers’ speed to market for mortgage resolution. New tools like PAID (Payments Automated Intelligent and Dynamic) and Resolve will play an important and positive role in the Servicing Gateway experience.” Servicing Gateway is unique in that it incorporates policy with technology. Last fall, Freddie Mac integrated its SingleFamily Seller/Servicer Guide (Guide) with Servicing Gateway. The Guide is the foundation for clients to originate, deliver and service Freddie Mac loans. By integrating it with Servicing Gateway, users are now able to access policies and training related

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CECELIA RAINE SENIOR DIRECTOR, REIMAGINE SERVICING STRATEGY AND INTEGRATION Cecelia Raine leads strategy to modernize technology platforms and processes aimed at transforming Freddie Mac’s servicing experience for clients and partners.

December 2021/January 2022

to their tasks or transactions, resulting in faster processing. “Not only is the Guide integration a competitive advantage, but it also solves for a long-standing request from our clients for a solution that streamlines policy and implementation of those policies,” said Dave Lucchino, senior vice president, SingleFamily Operations. “Having the Guide in Servicing Gateway puts the ‘smarter’ in ‘work smarter, not harder.’” And there is data to back up that claim. According to Freddie Mac, when Servicing Gateway launched, the platform saved an average of six to 10 clicks for investor reporting users. With the recent integration of the Guide into Servicing Gateway, clients save time because they no longer need to leave Servicing Gateway to research Guide policies. One servicer testimonial revealed that, thanks to its early adoption of Resolve and its API integration capabilities, the company is saving several minutes per transaction for Freddie Mac Flex Modification decisioning because no manual data entry is required. Furthermore, for PAID, an early adopter has reported that they reduced duplicate data entry and are able to submit a larger number of transactions at one time. “We place client insights and industry collaboration at the center of our mission to Reimagine Servicing,” says Ken Burke, vice president of Servicing Operations. “As new Servicing Gateway tools like PAID and Resolve go to market broadly, servicers will have a clear competitive edge for default management activities, which, in turn, will result in reduced costs and speed to market mortgage resolution.”

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ServiceMac’s Control Tower provides a series of mock audits to help servicers ensure portfolio compliance

THE EXECUTIVE:

ROBERT J CARUSO PRESIDENT AND CEO Bob Caruso is a veteran of the mortgage servicing industry with more than 20 years holding senior-level positions at ServiceLink, Wells Fargo, Chase and Bank of America.

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or servicers and subservicers, com- “mock audits” based on federal, agency pliance with federal and state regu- and CFPB regulations. This allows lenders lations is a top priority, especially to clearly see ServiceMac’s operational regiven today’s record high loan volumes sults and have confidence that all federal, driven by historically low rates. It’s critical agency and CFPB guidelines are met for to quickly evaluate the success rate of a every single loan. “I don’t think there is another system loan by identifying and correcting errors that solves these compliance challenges in real time. ServiceMac is an innovative mortgage with this much transparency and efficiensubservicing company that offers each of cy,” said Bob Caruso, CEO of ServiceMac. its clients exclusive access to its propri- “Control Tower is unique in the industry in etary compliance solution. ServiceMac’s that it has more than 1,200 rules and runs Control Tower is comprised of more than daily against a servicer’s entire portfolio. 1,200 rules that capture federal, agen- This continual, comprehensive review allows lenders cy a nd CFPB t o i nc r e a s e regulations. their capaciE ach night, ty and manthe system age spike s runs every rule “I don’t think there is ani n dema nd, against ever y other system that solves while effor tloan in a clithese compliance challessly ma inent’s portfolio. lenges with this much taining comThe results help transparency and eﬃpliance with identify loans ciency,” -Bob Caruso regulations.” that have failed By continuor could potenally auditing tially fail. its por tfolio C o n t r o l and processTower then e s, C ont r ol feeds those results into an end-user workflow applica- Tower is able to meet and exceed regtion that captures the rule, the data used ulatory compliance standards for all to evaluate the rule, and the result that ServiceMac clients. This type of modern needs review. Each rule is mapped to a lending technology is built to scale and department queue and worked daily, and offers distinctive advantages by tracking, the evaluation results provide a feedback analyzing and ensuring decisions are loop to minimize potential defects going consistent. “Control Tower is built and managed forward. The goal is to support a client’s compliance or audit teams by identifying by a leadership team with 20-plus years of experience across both mortgage and and reducing errors. As part of the standard reporting pack- servicing compliance and technology,” age, Control Tower provides a series of Caruso said.

SERVICEMAC www.myservicemac.com/

December 2021/January 2022

- SPECIAL REPORT -

Sponsored Content

SOURCEPOINT www.sourcepointmortgage.com/

THE EXECUTIVES:

STEVEN SCHACHTER EXECUTIVE VICE PRESIDENT, MARKET LEADER Steven Schachter is tasked with leading the organization of 8,000+ associates, deepening relationships with existing clients, adding new clients, and strengthening Sourcepoint’s brand in the market.

ROSHAN SETHI HEAD OF GLOBAL SERVICING OPERATIONS Roshan Sethi employs his extensive financial services and mortgage industry experiences to oversee the company’s global strategic outsourcing, operations management, quality assurance and transitions.

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SUNDARA SUKAVANAM CHIEF DIGITAL OFFICER, FIRSTSOURCE SOLUTIONS, PARENT COMPANY OF SOURCEPOINT

Sourcepoint’s First Customer Intelligence offers insights on customer service calls to help improve performance

n May 2020, forbearance rates peaked at 9% and most lenders and servicers weren’t prepared for the rapid increase in calls. As the housing market shifts, building relationships between lenders and customers is more important now than ever. That said, making sure your mortgage company is providing excellent customer service can be difficult, especially in this distributed workforce. Today’s borrowers demand a seamless and customized borrower experience through a channel of their choice, on their own schedule. Delivering such tailored borrower experiences requires lenders to gather deep customer insights. But not every mortgage company has the capabilities to analyze large volumes of calls and gather data in real time. To effectively measure customer experience, lenders need to implement an intelligent customer analytics solution to understand the entire customer journey and improve customer experience. S o u r c e p o i n t ’s F i r s t C u s t o m e r Intelligence (FCI) is a cost-effective proprietary analytics solution that helps companies better understand their customers. FCI uses speech (calls) and text (emails and web chat) to gather multi-dimensional insights across four major pillars: quality and risk, agent performance, business intelligence and customer experience. FCI measures customer experience across all calls – both inbound and outbound – to identify best practices, reduce agent call avoidance and ensure behavioral governance. “It’s not just the key words or identifying what the customer is saying, but truly understanding the emotional aspect of what the customer is feeling,” Sundara Sukavanam, chief digital officer, Firstsource Solutions said. FCI analyzes customer conversations to understand conversation topics and op-

Sundara Sukavanam drives the organization’s “Digital First, Digital Now” agenda and manages global partnerships with industry-leading platforms in RPA, ML/AI and SaaS.

December 2021/January 2022

timize processes and contact channels, enabling deflection of calls to lower-cost channels. FCI automates compliance and monitors 100% of the calls provided across 1,000 agents. The system ensures targeted call monitoring, enabling the company’s quality team to focus on outliers and increase monitoring of low performers. The Sourcepoint team currently publishes 18 different daily/weekly reports – including daily/weekly leadership reports, red alerts, quality and agent performance reports – to provide a 360-degree view of the client’s contact center operations. According to a recent case study by Sourcepoint, in three months FCI was able to analyze 3.3 million calls across sales, operations and servicing. The results helped their client increase sales conversion, reduce repeat callers, and identify and improve call avoidance behaviors. “FCI is a sound solution for distributed workforces who need to communicate with customers across the globe,” Roshan Sethi, head of global servicing operations said. “With FCI, mortgage companies are able to combine the best of humans and machines for maximum impact. And with these insights, companies are able to ensure that agents are targeting the right customers with the right messages for improved customer experience.” In addition to FCI, Sourcepoint provides solutions for their clients to support the entire value chain of mortgage from lead generation to default services. From servicing solutions to customer retention, Sourcepoint brings extensive experience to the table, as well as a comprehensive licenses set, and can enable robust, easyto-manage digital operations. And, with Sourcepoint’s one-stop-shop approach to providing customized solutions, clients don’t have to manage an extensive list of vendor partners.

REASONS OR

RESULTS IT’S TIME TO GO FURTHER AND BECOME YOUR BEST ELEVATE YOUR BUSINESS AT SUMMIT FUNDING

LEARN MORE ABOUT SUMMIT AT:

WWW.EXPLORETEAMSUMMIT.COM Summit Funding, Inc. NMLS ID# 3199 | www.nmlsconsumeraccess.org | Equal Housing Opportunity

“

We wanted a solid partner in a sub-servicer. TMS has been just that! TMS is solutions based and works hard to provide good customer service to clients and borrowers. It is the primary reason we chose TMS and it is what has kept our partnership strong.

”

– Mary Bolar, Director of Mortgage Servicing at Summit Funding Inc.

subservicing.themoneysource.com The Money Source Inc., 3138 E. Elwood Street, Phoenix, AZ 85034 (NMLS #6289) www.nmlsconsumeraccess.org | Licensed and/or exempt from licensing to service in 50 states. Licensed and/or exempt from licensing for subservicing and/or debt collection in 50 states.

- SPECIAL REPORT -

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Lead Gen & Conversion Solutions Special Report

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As vaccines continue to be distributed and the pandemic approaches a hopeful end, the housing market is expected to remain strong in 2021. With the current remote-friendly lifestyle offering homebuyers more flexibility, real estate professionals have more opportunity than ever. That said, low rates and an inventory shortage have created a competitive market, and buyers have high expectations. To be successful, lenders and real estate professionals need to rely on lead generation. The three companies featured in this section offer innovative capabilities to generate leads to actually close deals.

ored s n Spo

tent n o C

December 2021/January 2022

- SPECIAL REPORT -

Buyside..................................................20 Home Lending Pal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .21 Sales Boomerang.......................................22

December 2021/January 2022

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THE EXECUTIVES:

espite low inventory, the housing market is expected to remain strong in 2021 due to low mortgage rates. And with this housing boom will come even more questions from homeowners who want to know their housing options. Real estate brokers need to be able to target these clients effectively, so they can close deals quickly. Many real estate professionals discount the seller lead. But real estate seller leads are important because they represent commodities for brokers. After all, they’re the ﬁ rst step to potentially acquiring a deal.

opportunities, and also help capture and optimize those consumer opportunities for real estate agents,” Charles Williams, founder and CEO, said. With this real estate marketing software, brokers are given a list of buyers actively working with their brokerage, which they can show to potential homeowners. By providing real estate brokers with real-time buyer data, they’re able to stand out against the competition. One of the biggest mistakes housing professionals make is not keeping in touch with past clients. Buyside works to remedy this problem by sending automated month-

“Buyside sees an average of 25% of every valuation run resulting in a lead form filled out, and an average 6% close rate. Our lead conversions and usage rates are high, and we provide that by keeping it simple and going above and beyond in our support and training resources.” -Charles Williams

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Buyside is a marketing and data analytics company that provides consumer-facing tools aimed to give homebuyers complete transparency. The company integrates with an existing brokerage website to provide homeowners with three valuations along with insight into the number of real estate buyer leads actively searching for a property just like theirs. By using this data, Buyside helps brokers generate and capture seller leads. Buyside leverages technology by offering a search experience for potential homeowners that provides valuations, buyer demand data, and their home equity accompanied by reﬁ options, which leads to high quality leads for real estate brokers. “The goal is to use real-time data and insights to educate consumers on their

December 2021/January 2022

ly reports to past clients. These campaigns deliver monthly valuation changes, so the agent is top of mind for when the client needs professional services. Due to COVID-19, many real estate professionals saw their portfolios take a hit. Buyside works as a solution to this problem. The marketing company helps agents effectively reach out to clients by providing relevant info and data, to help potential homeowners understand their options and agents close on deals. “Buyside sees an average of 25% of every valuation run resulting in a lead form ﬁlled out, and an average 6% close rate,” Williams said. “Our lead conversions and usage rates are high, and we provide that by keeping it simple and going above and beyond in our support and training resources.”

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o be successful, lenders have to rely on mortgage lead generation to find potential borrowers. But generating leads isn’t an easy process, especially if businesses depend on older methods to produce results. Home Lending Pal (HLP) has an anonymous marketplace that uses conversational intelligence, machine learning and blockchain to help first-time homebuyers through the home research and lending process. HLP helps banks, credit unions and non-bank lenders lead with transparency by automating and digitizing the process. “Our AI captures data at scale, reduces human capital, and improves efficiency and effectiveness to signal high-quality leads that will close fast,” Steven Better, COO and co-founder, said.

tomers even on third party marketplaces. Home Lending Pal’s marketplace leverages artiﬁcial intelligence, data science and machine learning to automate manual tasks and to create a better experience. By integrating digital platforms, borrowers can get personalized insight with little to no human interaction. “With our solution, potential borrowers gain deeper insight into the possible outcome of a mortgage application on a home without a negative impact, a signiﬁcant time commitment, sales pressure or potential embarrassment,” Bryan Young, CEO and cofounder, said. Home Lending Pal’s AI-powered mortgage advisor simulates underwriting to determine mortgage approval odds, makes affordability recommendations, and solves borrowers’ and lenders’ problems. The

“With our solution, potential borrowers gain deeper insight into the possible outcome of a mortgage application on a home without a negative impact, a significant time commitment, sales pressure or potential embarrassment.” -Bryan Young It’s no secret the housing market is hot right now. Even though home prices are on the rise, low interest rates make purchasing a home an attractive option. And while this is great news for borrowers, lenders have to work hard to stand out among the competition and produce leads that will end in closings. Some mortgage professionals are generating leads that are only being paired based on cost-per-lead budget instead of how well they ﬁt into mortgage overlays. On top of this, most vetting of the lead is being done by the lender, which often requires the borrower to submit the same information multiple times. Mortgage businesses need to lead with a digital-ﬁrst experience that delights cus-

pairs are based on mortgage overlays and allow potential borrowers to select which lenders they would like to work with based on service quality and approval likelihood, not just marketing spend. “Unlike other solutions, HLP ’s direct-to-consumer focus allows it to build, validate and attest consumer ﬁ nancial and credit information before connecting them to mortgage lenders. Borrowers can research privately before submitting all documents needed for underwriting electronically through the HLP platform,” Joey Barrow, chief knowledge oﬃcer, said. Home Lending Pal removes human biases to provide transparent and objective information that advocates for the borrower in the lending process.

December 2021/January 2022

THE EXECUTIVES:

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THE EXECUTIVES:

he lending industry is notorious for its poor customer retention – in fact, only one in five borrowers return to their original lender for a subsequent loan. Without the right tools to beat these odds, lenders have had little choice but to pour dollars and resources into new customer acquisition instead. Sales Boomerang solves this problem by helping banks, credit unions and independent mortgage lenders build lasting, profitable relationships with their borrowers. “Our clients retain as high as 65% or more of their past customers. The result is that for every $1 our clients pay us, we return $20 of profit to them,” said Kutsishin.

sonal debt load, home value, home equity and FICO score to accurately determine when a contact becomes a viable candidate for a cash-out refi or home equity loan. Similarly, Sales Boomerang alerts lenders the instant a past client starts shopping for a new mortgage. The system can even tell if a previously unqualified customer improved their credit and now qualifies. “Our solution is to create a monumental barrier between lenders and their competitors - making it hard for their customers to leave them,” explained Kutsishin. In all, Sales Boomerang offers a suite of borrower intelligence products to help

“Our solution is to create a monumental barrier between lenders and their competitors - making it hard for their customers to leave them.” -Alex Kutsishin

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Last year, lenders originated over $3.7 trillion in mortgage loans, making 2020 the industry’s biggest year since 2003. With fewer refi nances in the forecast for 2021, competition is certain to be fierce. Lenders need to figure out now how they will retain borrowers in this increasingly competitive market. Sales Boomerang is the industry’s first automated borrower intelligence system. The system is designed to make lenders invaluable to their customers by leveraging existing database information to present timely, actionable opportunities. Gone are the days of calling up a past client in the vague hope they might be ready for a new loan. Instead, the Sales Boomerang system notifies mortgage lenders the moment someone in their database is actually ready for a loan — whether it’s a home equity loan, a refi or a new purchase. For instance, Sales Boomerang intelligently assesses current interest rates alongside factors like a consumer’s per-

December 2021/January 2022

lenders connect borrowers to the right loan at the right time. And to make responding to opportunities easy, Sales Boomerang integrates with the industry’s leading CRMs, enabling automatic deployment of context-speciﬁc marketing campaigns. To succeed in 2021, lenders will need to protect market share. Users of Sales Boomerang spend an average of $240 per loan — much less than the average $1,500-$3,000 cost to acquire a new customer — while gaining an average of 20 to 40% lift in volume. The numbers speak for themselves: by connecting lenders with customers at the right time – when they’re ready for a loan – Sales Boomerang has helped lenders capture billions of dollars in loan volume that would otherwise have walked out the door. “There is no other borrower intelligence solution like Sales Boomerang in the market. There is a reason our average ROI is over 20X, and that is because of the value received by our clients,” said Kutsishin.

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Title Companies and Solutions Special Reports The title process is complex, time-consuming and subject to errors and security concerns, which can potentially delay a borrower’s closing date. To streamline the process, lenders need a way to reduce friction in the loan origination cycle, while still providing accurate results to clients. The eight companies featured in this section offer solutions to simplify communication and collaboration between stakeholders, as well as tools to securely and quickly transfer title

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data.

DecemberAPRIL 2021/January 2021 2022

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December APRIL 2021/January 2021 2022

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CORELOGIC corelogic.com

THE EXECUTIVES:

MICHAEL MARINO, PRINCIPAL OF INDUSTRY SOLUTIONS Michael Marino is responsible for driving the company’s expansion within the title and settlement space.

TASHA HARVILLE, SENIOR PRODUCT MANAGER

oday, title documents are sent between title vendors and lenders via email, third-party email and even fax machines. Once received, lenders employ teams to manually review these title documents and re-type details into their loan origination systems. These manual processes are time-consuming, subject to data-entry errors and potential security concerns – all of which can delay a borrower’s closing date. Recognizing a tremendous opportunity for process improvement, CoreLogic developed the mortgage industry’s first Universal Title Data Structure (UTDS) to source this title data directly from the title agent’s production software in a standard, consistent format. CoreLogic’s UTDS automatically digitizes, organizes and transmits over 350 individual data elements from title commitments, tax certificates, major endorsements and property reports. Rather than being locked in flat pdf documents which have to be manually re-keyed, the UTDS releases the title data so that it can flow instantly and securely from the title provider directly to the lender’s LOS through CoreLogic’s industry leading Collateral Technology platforms. In this way, CoreLogic’s Title and Closing Solution efficiently tracks and securely transmits all title order details instantly, replacing phone calls, faxes, and email with an organized and centralized communication platform. By simplifying and accelerating the collateral underwriting process, CoreLogic’s enhanced Title and Closing Solution also works to reduce potential wire fraud – and ultimately enhances the consumer home-buying experience. “Today, many consumers have to wait 45

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Tasha Harville is responsible for simplifying, automating and bringing CoreLogic’s digital Title and Closing Solution to market.

CoreLogic’s Universal Title Data Structure digitizes the title process, reducing potential fraud

December 2021/January 2022

– 60 days to close on their dream home,” said Michael Marino, principal of industry solutions at CoreLogic. “By completely automating these manual title processes, we are able to take time, touch and cost out of our clients’ workflows, and help them deliver an improved borrower experience by getting consumers to the closing table faster.” Over the past few years, the GSEs have been promoting the Uniform Mortgage Data Program (UMDP), through which they’ve focused on digitizing and automating manual aspects of the mortgage workflow and creating new data-backed processes. The title space has yet to be impacted by UMDP, but the CoreLogic UTDS will set the industry up for an expedited and smooth transition in that direction. “Our Title and Closing Solution supports automated system-to-system ordering of title products, collaboration on fees for the Closing Disclosure, and a full process closing service which supports scheduling, distribution of documents and post-closing document delivery,” said Tasha Harville, senior product manager at CoreLogic. “We are currently processing over 70,000 loans per month for top depository and non-depository lenders – and our clients have been amazed by the efficiencies this solution delivers.” CoreLogic’s Title and Closing Solution represents a major milestone on the Company’s journey toward Complete Collateral, CoreLogic’s drive to simplify the mortgage origination process by seamlessly orchestrating all of the collateral data and analytics needed to validate a property’s value, title, condition and hazard risks in one automated workflow platform.

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DataTrace’s TitleIQ leverages automation to reduce human error and further streamline processes to-coding, DataTrace solutions transform manual processes and drive title production efficiencies. For example, they can deliver an automated search of the property’s chain of title, transactions, and parties, retrieve the results and organize and pre-populate examination screens with all required title data – eliminating the time-consuming steps in the pre-exam process. By leveraging title production automation, clients can reduce human error and make processes more streamlined by removing human interventions and delays. “If 2020 has taught our industry anything, it’s that we need to be able to rapidly scale to meet demand and be able to do it without adding risk, cost or impacting the customer experience,” said Robert Karraa, president at DataTrace. “Our solutions, like TitleIQ, enable clients to embrace ground-breaking technologies that will fuel their business and market share growth,” Karraa said. Through unified title search and examination production management, the TitleIQ solutions suite improves productivity and expedites report production – enabling title companies to quickly meet fluctuating market conditions and increased demand expectations across all types of transactions and geographies. “DataTrace has always been at the forefront of title innovation,” said Jim Portner, vice president, product and strategy, at DataTrace. “We continue to invest in data, technology, and people to deliver customer-centric solutions that help our customers succeed and drive industry advancements.”

THE EXECUTIVES:

ROBERT KARRAA, PRESIDENT Robert Karraa is a strategic executive with over 30 years of experience in the financial and information services industries, serving in senior leadership positions in operations, sales and general management.

JIM PORTNER, VP, PRODUCT AND STRATEGY Jim Portner provides a deep understanding of the dynamic mortgage and analytics technology marketplace and the opportunities and challenges of delivering solutions for modern title, settlement and real estate companies.

ANNETTE COTTON, VP, DATA MANAGEMENT & OPERATIONS With more than 30 years of industry experience, Annette Cotton oversees the source acquisition, data manufacturing, content quality and delivery of DataTrace’s market-leading suite of enterprise public record data assets.

December 2021/January 2022

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ver y real estate transaction — whether it is backed by a mortgage or is an all-cash deal — requires a determination of ownership and a clear transfer of title. That said, many companies still rely on legacy systems and manual processes to procure, search, and examine title. This slows the search and underwriting processes, makes them more prone to errors and delays closings at the expense of the homebuyer. DataTrace delivers advanced real estate data and title search technology and automated examination and production solutions used by leading title and settlement service companies. Its offerings help underwriters and title agents make confident decisions, produce quality work and meet the SLAs needed to accelerate closings. The title and property data behind these platforms are powered by the industry’s largest network of regional title plants and property ownership databases, containing more than 7 billion recorded land record images. TitleIQ, DataTrace‘s automation solution suite, is built on the industry’s comprehensive foundation of data assets, customizable business rules and industry underwriting guidelines. The solution delivers automated title searches, efficient examination, nationwide tax reporting, grading and title production services through a single source that integrates with all leading commercial closing platforms for direct data and image delivery. Using advanced technologies, such as Optical Character Recognition and au-

DATATRACE datatracetitle.com

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BOSTON NATIONAL TITLE bostonnationaltitle.com

THE EXECUTIVES:

NATHAN BOSSERS, PRESIDENT Nathan Bossers is responsible for stewarding the company vision, maintaining operational performance standards, and meeting growth and financial goals.

CHERI KLUFT, PRESIDENT AT BNT TITLE COMPANY OF CALIFORNIA Cheri Kluft leads BNT’s highly successful California office, including responsibility for daily production oversight and client management.

SEAN COOKE, VICE PRESIDENT, MID & MASS MARKET SALES

itle and settlement can be particularly challenging in servicing. The difficulty lies in identifying, accurately assessing and proactively resolving title issues— especially when servicers are dealing with large volumes of assets. Boston National Title (BNT), founded in 2006, offers servicing solutions to help ensure loan portfolios meet investor expectations and are both in compliance with regulatory requirements and within the risk tolerance of the GSEs. The company’s products make it easier for servicers to navigate the title process and eliminate errors.

delays. In addition, BNT cleans up the title on “scratch and dent” loans in MSR portfolios. When servicers discover a loan has incomplete or defective title documentation, the company fi xes it right away and issues a replacement title insurance policy to ensure the loan meets investor and GSE requirements. “Our servicer clients prefer us because the typical, attorney-driven process is overpriced, inefficient and outdated while the big underwriters are inflexible and not customer-centric,” Bossers said. “Our clients really appreciate our adaptability combined with our great service.”

“We’ve proven that not only can we deliver great service like a small regional title agent, but we can do it at high-volume scale while exceeding the aggressive performance SLAs of the biggest originators and services in the country ” - Sean Cooke, VP, mid- and mass-market sales

BNT has developed Default Title Lifecycle Management Services, which works as an end-to-end solution to help clients further streamline the process from loan modification to re-performance. “We were among the first national-scale title and settlement agents to create a specialized default title workflow, supported by default processing teams and attorney liaisons, to help expedite the title process and reduce title costs throughout the default title lifecycle,” said BNT President Nathan Bossers. BNT’s servicing solutions workflow is tailored to each client’s process, making it easier to collaborate and reduce costly

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Sean Cooke is a 15-year veteran of the mortgage finance industry with deep experience in solution design and continuous process improvement.

Boston National Title’s Default Title Lifecycle Management Services ensures portfolio compliance

December 2021/January 2022

Currently, servicers are handling thousands of transactions nationally, while still having to ensure they deliver high-quality results for their clients. A smooth title and settlement process is critical to close transactions quickly and effectively. “We’ve proven that not only can we deliver great service like a small regional title agent, but we can do it at high-volume scale while exceeding the aggressive performance SLAs of the biggest originators and servicers in the country — all while meeting the highest grades of bank and GSE security and compliance requirements,” said Sean Cooke, vice president, mid-and mass-market sales at BNT.

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Qualia automates the title process so lenders can deliver a best-in-class home-buying experience

“Through our secure shared platform, we’re transforming real estate closings from a chaotic, in-person, paper-based process into a remote, digital, Amazon checkout-like experience.” - Nate Baker, CEO

Qualia’s suite of products make home closings more transparent, efficient, and secure. Qualia connects every stakeholder in the process, from signing to post-closing, in order to power greater efficiency, accuracy and security. “Through our secure shared platform, we’re transforming real estate closings from a chaotic, in-person, paper-based process into a remote, digital, Amazon checkout-like experience,” Qualia CEO Nate Baker said. Qualia enables lenders to easily communicate with and collaborate with title companies during a transaction via their Connect product, which brings lenders,

real estate agents, and consumers onto the platform through a secure client portal. Connect offers its users features such as Remote Online Notarization, a closing progress tracker, e-signatures and automated info requests. Qualia has an additional product for lenders called Post, which automates both the digital and physical collection of closing documents from title companies. Qualia also suppor ts title and escrow companies through the following products: • Core, an award-winning workflow, accounting, and reporting product bundle that title and escrow companies use for title production as well as to manage and coordinate closings. • Marketplace, a solution that enables title and escrow professionals to discover, engage, and manage payments and reporting directly with vendors such as title search providers, notaries, release tracking providers and more. • Enterprise, a powerful, cloudba sed collaboration suite for multi-market operations that combines title production software, a client communication portal, and vendor management tools with white-glove, enterprise-grade onboarding, custom services, and account management. Since 2015, Qualia has invested heavily in building a flexible infrastructure for the real estate and mortgage industry. Through its recent acquisition of complementary title software ResWare, to its focus on building user-friendly integrations, Qualia has reset the expectations across the ecosystem for how real estate closings should work.

THE EXECUTIVES:

NATE BAKER, CEO Nate Baker oversees the strategic vision for the company and executes the mission to provide a seamless real estate closing process for all transaction participants.

LUCAS HANSEN, CTO Lucas Hansen heads up the engineering team and oversees the technical development of Qualia’s platform and products.

JOEL GOTTSEGEN, CO-FOUNDER Joel Gottsegen leads product strategy, development and execution, as well as vendor integrations with title companies and mortgage lenders around the country. 29 ❱ HOUSINGWIRE

ualia has created a flexible infrastructure for the real estate and mortgage industry. Real estate transactions require coordination between lenders, title insurers, homebuyers, title and escrow companies – the list goes on. Dealing with dozens of siloed parties creates opportunities for mistakes and complicates the home-buying experience. Qualia, a digital real estate closing platform, brings all of these parties together onto one secure platform to deliver a best-in-class home-buying and selling experience.

QUALIA qualia.com

December 2021/January 2022

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RADIAN radian.com

THE EXECUTIVES:

JILL CADWELL, SVP, TITLE OPERATIONS Jill Cadwell, a 30-year industry veteran, is responsible for building a digital strategy to accommodate both lenders and customers that continue to make Radian a pioneer in the industry.

GRANT BRITTAIN, SVP, TITLE SALES

itle reports can be confusing, which is why the process is prone to errors. One mistake can slow down the real estate transaction’s closing and frustrate lenders and borrowers. To keep that from happening, lenders need a way to reduce time and friction in the loan origination cycle but still provide their consumers with excellent customer service. Thankfully, technology is increasing efficiency and making it possible for companies to create solutions that help lenders receive timely and accurate title services. Radian Settlement Services created Radian Ready to make the title process less of a hassle for lenders. This solution uses technology as a driver to shorten the loan cycle time, increase transparency

Because of this, lenders can easily review and discuss title reports with their clients, so everyone is on the same page from start to finish. “Consumers expect a smooth transaction with minimal touchpoints prior to closing and Radian Ready simplifies the title process and reduces lender and consumer touchpoints,” said Grant Brittain, senior vice president of Title Sales at Radian. “Regulators and GSEs can rest assured as Radian Ready is a fast, yet compliant solution that ultimately yields a standard ALTA loan policy meeting all investor requirements.” Radian is disrupting traditional title processes and using technology and automation to create a better take on title. With easy-to-understand reports, and clear turn

“We are reimagining title insurance and settlement services to produce a new experience that is strealined, transparent, and cost-effective.” - Grant Brittain, SVP, Title Sales

and reduce friction with the title product. By easing the transition from title production to title curative, Radian Ready doesn’t just make quicker closings a possibility, it also helps lenders outperform with less legwork. In addition to a standard American Land Title Association (ALTA) commitment, Radian Ready provides a clear summary of the title commitment and what steps, if any, need to be cured prior to closing. Radian Ready also uses technological efficiencies to invest in quality personnel to provide a high level of customer service.

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With 17 years of experience in roles across the title industry, Grant Brittain brings the voice of the customer and deep knowledge of the title industry to his role leading the title and settlement sales team at Radian.

Radian Ready eases the transition from title production to title curative to help shorten loan cycle times

December 2021/January 2022

times, Radian Ready provides lenders with the service and speed they need to create quality relationships with their customers that turn into repeat business. Not to mention, the technology used reduces any chance of risk so both lenders and borrowers can have peace of mind. “We are reimagining title insurance and settlement services to produce a new experience that is streamlined, transparent, and cost-effective,” Brittain said. “Customers choose Radian based on our long-standing reputation and dedication to quality service.”

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ServiceLink’s EXOS Title engine automates the title process so lenders can receive instant title decisions

n today’s low interest rate, high-volume market, lenders need a way to manage their mortgage volume while providing a consistent, high-quality customer experience. ServiceLink’s tech-enabled title solution, EXOS Title, combines cutting-edge technology and superior customer service with a nationwide footprint – ultimately getting lenders and their clients to the closing table faster. ServiceLink’s EXOS Title engine automates the title search, pulling available land records data together to create a complete property profile. It incorporates

Director Susan Falsetti said. “On average, ServiceLink lenders who use EXOS Title’s decisioning functionality close more than eight days faster than those who don’t.” According to a 2018 Fannie Mae National Housing Survey, three-quarters of homebuyers believed it should take a month or less to get a mortgage, from application to close. EXOS Title brings the origination timeline in line with consumer expectations by cutting days from the origination process. Additionally, this solution provides greater visibility into title clearance and

SERVICELINK svclnk.com

THE EXECUTIVE:

SUSAN FALSETTI, MANAGING DIRECTOR OF SERVICELINK’S ORIGINATION TITLE AND CLOSE DIVISION Susan Falsetti leads the team responsible for delivering ServiceLink’s clients a superior, streamlined title experience that helps lenders close faster in this high-demand market.

“On average, ServiceLink lenders who use EXOS Title’s decisioning functionality close more than eight days faster than those who don’t.” - Susan Falsetti, Managing Director

expected clear-to-close date and pricing, to help loan officers set clear and realistic expectations with borrowers from the start. EXOS Title offers strict adherence to local, state and federal regulatory guidelines. Plus, ServiceLink’s Operational Audit and Compliance team closely monitors new and pending regulations and participates in industry seminars and events to ensure they have the most up-to-date information. EXOS Title helps lenders reduce the amount of providers needed to manage their pipeline – ultimately resulting in increased efficiency.

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Fidelity National Financial data, title plant data, public records data and data from other sources and 100% of orders return a complexity decision in five seconds. EXOS Title untangles the complexities around title decisions and gives each file an Expedite, Accelerate or Standard status based on readiness of being clear to close, so ServiceLink and its clients can triage files accordingly. “This prioritization is essential in high-volume markets like we’re seeing today. When lenders receive instant complexity title decisions, they can create a runway for simpler orders to close, and focus their resources on more complicated ones,” ServiceLink Managing

December 2021/January 2022

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SOURCEPOINT sourcepointmortgage.com

THE EXECUTIVES:

ROSHAN SETHI, HEAD OF GLOBAL SERVICING OPERATIONS Roshan Sethi oversees the company’s global strategic outsourcing and servicing and title operations.

MELANIE CORNELIUS, VICE PRESIDENT, STRATEGIC ACCOUNTS Melanie Cornelius is responsible for expanding relationships with industry-leading organizations, including large banks and the GSEs.

KENNETH MARKS, ASSOCIATE DIRECTOR, TITLE SERVICES

enders are currently dealing with incredibly high call volumes, which makes it difficult to ensure their clients are receiving the best customer service at the highest quality. Lenders need support during this hectic time to manage their portfolio and avoid any mistakes, especially when it comes to title insurance and settlement fees. To reduce the likelihood of these issues, Sourcepoint, a business process management (BPM) company and national title agency, provides lenders a range of title and settlement solutions to increase business efficiency. The company offers both automation and global sourcing solutions combined to create an offering that is highly cost-effective. “We engineer solutions for our clients. One of the things we do exceedingly well is business process orchestration – we are able to orchestrate their business processes better digitally or with global sourcing solutions,” said Kenneth Marks, associate director of Title Services. “We deliver savings, capacity and great quality to our clients.” Sourcepoint has a strong focus on compliance, which allows the company to provide a high level of assurance to their clients. In addition, they strive to ensure quality, whether dealing with inline quality control or having centralized quality that supports their own work. Quality control is a key benefit for their consumers, regulators and the GSEs. There are a number of ways Sourcepoint streamlines the mortgage process to avoid title insurance and settlement fees. One solution that specifically facilitates real estate transactions is the company’s newly launched proprietary Intelligent (Digital)

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Kenneth Marks leads the company’s Insured Title and Closing business, operating across three global centers.

Sourcepoint’s title and settlement solutions increase business efficiency amid high call volumes

December 2021/January 2022

Resource Management (IRM) tool. IRM uses an AI algorithm to optimize the utilization to complete inflow within a stipulated time. The tool reviews and validates the completion of notary services for orders received in a client system. Sourcepoint’s solutions help solve problems for their clients, which is how the company has become a trusted advisor to lenders. “At the end of the day the solutions provided by Sourcepoint and its competitors are similar, but it all comes down to the people who are driving and executing our solutions,” said Melanie Cornelius, vice president of Strategic Accounts. “We have developed a mature approach to engagement – we take the time to listen, understand and create the best solution that fits our clients’ needs.” There’s no one-size-fits-all solution for every team. Instead, Sourcepoint helps lenders rethink how their businesses are organized and identify opportunities to further introduce automation into their businesses on the title agency side. “This is just another reason our clients chose to work with Sourcepoint – an industry leader that is transforming the end–to–end mortgage life cycle,” said Roshan Sethi, head of Global Servicing Operations. “Our clients like and appreciate that they have a partner who is evolving, thinking ahead and driving solutions back to them. With our industry ever-changing, we need to be a nimble and agile partner. Sourcepoint is powered by people, process and technology and we are making huge positive impacts on our clients’ operations.”

- SPECIAL REPORT -

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he real estate settlement process er’s experience by providing them with a can be negatively impacted by convenient, secure and intuitive self-sermany factors. From lost documents vice ecosystem for enhanced transparento chasing down critical data, it’s import- cy. In addition, WFG’s standardized inteant lenders remain organized so borrow- gration protocols simplify and expedite ers don’t have to endure long turnaround system-to-system integrations, further times and closing delays. Rigorous pro- eliminating the need to rekey data. cesses and efficient technology have never Today’s consumers have high expecbeen more important than they are at this tations when it comes to customer sercurrent time of high refinance activity, vice. They expect to remain in the loop when lenders are managing record-break- and have ongoing transparency, and the ing volumes. same is true for the mortgage origination WFG Lender Services has created a process. Consumers want constant insolution that takes time and cost out of sight into where they are in the transact he rea l e st ate tion. WFG’s MyHome process, helping Exchange facilitates “The time we invest in mor tgage lend this desire by providers become more ing transparency and understanding our clients’ successful, while proactively providing operations pays dividends passing along the status updates every in increased productivity, benefits of greatstep of the way. reduced costs and time er efficiency and “Our lender clients economy to their enjoy working with savings.” customers. This WFG because we sup- Dan Bailey, SVP solution is MyHome port them with soluExchange. tions that facilitate Built on WFG’s award-winning MyHome their business needs, provide them with collaboration platform, MyHome Exchange transparency into the process and support brings borrowers on board early in the our technology and service offerings with refinance transaction and actively engag- NPS-rated ‘world-class’ service levels,” es them every step of the way. MyHome said Dan Bailey, senior vice president of Exchange minimizes application-to-close WFG Lender Services and WFG Enterprise turn-times and accelerates the settlement Solutions. process by eliminating duplicate touch“Lenders partner with WFG Enterprise points, enabling proactive communica- Solutions because we provide them with tion, and facilitating data and document consistent and predictable service levcollection, storage and sharing. MyHome els, obsess about improving the process Exchange also makes it easier for bor- and work closely and collaboratively with rowers to submit their required informa- them to develop and implement solutions tion and documents, so the process runs that help us all become more efficient and smoothly from the beginning. close more transactions,” said Bailey. “The MyHome Exchange users also benefit time we invest in understanding their operfrom increased efficiency. Not only does ations and unique needs pays dividends in this make the origination process easier increased productivity, reduced costs and for lenders, it also improves the consum- time savings.”

December 2021/January 2022

WFG LENDER SERVICES wfgls.com

THE EXECUTIVES:

DAN BAILEY, SVP, WFG LENDER SERVICES & WFG ENTERPRISE SOLUTIONS Dan Bailey is responsible for operations at WFG’s Lender Services division and also leads the national sales team for the company’s Enterprise Solutions group.

STEVE OZONIAN, CEO, WILLISTON FINANCIAL GROUP Steve Ozonian has held executive-level positions at Chicago Title & Trust, Coldwell Banker, Prudential Real Estate and built the world’s most successful real estate research portal as CEO of Realtor.com.

PATRICK F. STONE, EXECUTIVE CHAIRMAN AND FOUNDER, WILLISTON FINANCIAL GROUP A 2019 HW Vanguard Award recipient, Patrick F. Stone founded WFG in 2010. Prior to that, he served as president and COO of the nation’s largest title insurance company for nine years, chairman and co-CEO of a software company and CEO of a real estate information company.

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WFG Lender Services’ MyHome Exchange accelerates settlement by eliminating duplicate touchpoints

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Valuation Tech Special Reports

34 ❱ HOUSINGWIRE

December 2021/January 2022

Sponsored Content

uring the pandemic, many housing professionals saw firsthand how easy it is for the valuation process to be

disrupted. With social distancing and lockdown orders, appraisers struggled to evaluate homes in a timely and effective manner. To solve this problem, the industry needed a way to automate the valuation process while keeping homeowners and appraisers safe. The nine companies featured in this section offer virtual solutions to not only speed up the process but eliminate potential

35 ❱ HOUSINGWIRE

errors that could delay a homebuyer’s move-in.

December 2021/January 2022

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BLACK KNIGHT blackknightinc.com

THE EXECUTIVES:

ANTHONY JABBOUR CEO Anthony Jabbour is responsible for the company’s overall vision and direction as well as the management of Black Knight’s offerings.

Black Knight takes a holistic approach to the valuation process with unbiased solutions

o streamline the appraisal process, lenders and appraisal management companies (AMCs) need a trusted, one-stop resource to obtain cost-effective, transparent, automated and robust valuation solutions. To meet these needs, Black Knight offers a variety of proven options. “Our comprehensive solutions are broad in range, deep in scope and include extensive data coverage. We take a holistic view of our client’s needs, and offer valuation solutions across the entire mortgage life cycle,” said Ben Graboske, president of Black Knight Data & Analytics. Black Knight’s valuation solutions draw

property’s potential appraisal complexity. With this information, lenders and AMCs can quickly predetermine a difficulty level for appraising each property. The solution helps users identify the appropriate valuation solution for a subject property and estimate the appraisal fee. SCOUT is Black Knight’s mobile application that enables appraisers, real estate agents or even homeowners to identify and collect relevant property characteristics about the home and capture interior and exterior photos. The collected data is stored in the cloud and then can be shared or used in various

“Our solutions provide the robust, unbiased and independent results clients and consumers expect” -Ben Graboske, President of Data & Analytics Division

JOSEPH NACKASHI PRESIDENT Joe Nackashi is responsible for working with Black Knight’s operating groups to establish and ensure execution of short- and long-term goals, plans and strategies.

BEN GRABOSKE

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PRESIDENT, DATA & ANALYTICS DIVISION Ben Graboske oversees, manages and helps drive innovations in the company’s Data & Analytics division so clients have the leading solutions needed to achieve greater business success.

from the company’s industry-leading, comprehensive public-record property database covering 99.9% of the U.S. population. Black Knight collects the data directly from the source, and updates and verifies each record to provide high-quality inputs to its valuation solutions. Black Knight’s suite of top-rated automated valuation models (AVMs) leverage the company’s public-record data and MLS data from Realtors Property Resource (RPR), a subsidiary of the National Association of Realtors (NAR). The AVMs comply with inter-agency guidelines, provide results within seconds, meet client-specific needs and deliver exceptionally reliable results. “Our solutions provide the robust, unbiased and independent results clients and consumers expect. Additionally, our AVMs perform strongly both in distressed and non-distressed markets,” Graboske added. Black Knight’s Complexity Profiler offers an automated solution that identifies a

December 2021/January 2022

valuation products. Black Knight’s Daily Home Price Flash provides a daily report of home prices and other housing metrics for single-family residential real estate transactions in nearly all states. The solution is available in Black Knight’s Rapid Analytics Platform (RAP), a cloudbased data marketplace where users can access Black Knight data assets, along with their own data, to develop analytics strategies within a single platform. “Our products are not only cost-effective but also provide results quickly to deliver greater efficiencies, so appraisers are able to focus on market intelligence rather than data collection,” Graboske said. “Our solutions also facilitate a client’s need for customization, comparables selection or custom cascades.” Black Knight’s professionals have extensive experience in the valuations market, and the company’s valuation solutions have been vetted and tested for many years.

- SPECIAL REPORT -

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Total Home Valuex from CoreLogic leverages machine learning to simplify and standardize valuation

ne of the first steps in determining a property’s value is the use of an Automated Valuation Model (AVM). Using an AVM helps lenders quickly and accurately get an independent assessment of collateral value, which can streamline the home buying process for them and the borrower. That said, not every AVM is created equal. When deciding on the right solution, it’s important to look for a model that will meet your specific needs. Total Home Valuex (THVx) from CoreLogic is a state-of-the-art AVM built to simplify and standardize valuation through the loan lifecycle. Leveraging CoreLogic’s vast property datasets, MLS data and other unique data assets, THVx uses a single model methodology to provide an optimal combination of accuracy and coverage. Innovative technology supports different valuation use cases throughout the lifecycle, with customized pricing structures and delivery options.

comprehensive data strategy. The performance, delivery and pricing of each THV solution are customized to unique needs of each lending use case. “The benefits of leveraging a state-of-theart AVM as part of your lending process are more numerous than ever,” Regan continued. “This is particularly true today where the GSEs are waiving the requirement for a full interior inspection in some instances and allowing some purchases under $400,000 to be completed without a full appraisal.” The use of AVMs for lending purposes is highly regulated and CoreLogic works closely with their large customer base to support the strenuous testing, documentation, auditing and vendor management requirements that underpin this use of AVMs. In addition to the regulatory requirements, the Total Home Valuex AVM delivers accuracy and geographic coverage that ensure buyers, sellers and owners

CORELOGIC www.corelogic.com

THE EXECUTIVE:

ANN REGAN PRODUCT MANAGEMENT EXECUTIVE Ann Regan is responsible for general management and product strategy for the CoreLogic portfolio of property, loan and market analytic solutions. She is an experienced product and business manager with over 25 years of experience developing, delivering and managing predictive analytic/ big data solutions for financial services companies.

“Lenders get a more accurate, better-quality AVM that they can leverage across the loan lifecycle and borrowers get a better experience.” -Ann Regan, Product Management Executive

benefit from a fair and consistent collateral valuation. “Because Total Home Valuex uses the same valuation methodology from acquisition to underwriting, there are fewer valuation ‘surprises’ that can lead to fallout and consumer disappointment,” Regan said. “Not only will this increase a lender’s efficiency, but it can also improve client retention. Lenders get a more accurate, better-quality AVM that they can leverage across the loan life cycle and borrowers get a better experience knowing the value they see is representative of the home’s actual value. Everyone wins.” 37 ❱ HOUSINGWIRE

“We continue to see the benefits of using advanced AI and machine learning techniques when developing new mortgage lending solutions,” said Ann Regan, product management executive at CoreLogic. “Not only does this allow us to provide an AVM model that can support diverse valuation use cases from marketing through portfolio monitoring, but it also reduces the potential for fraud and valuation subjectivity.” THVx implements numerous innovative modeling, data and computing technologies, including a machine learning algorithm, network graph technology, cloud-based analytic infrastructure and a

December 2021/January 2022

- SPECIAL REPORT -

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FIRST AMERICAN MORTGAGE SOLUTIONS firstam.com/mortgagesolutions

THE EXECUTIVES:

MATT HOCEVAR SENIOR DIRECTOR OF VALUATIONS Matt Hocevar, SRA, has 18-plus years of experience in the real estate appraisal industry as a field appraiser, review appraiser and operational manager.

PETER KRUMM CHIEF APPRAISER Peter Krumm joined First American in 2016 with the company’s acquisition of Forsythe Appraisals where he successfully managed multiple branch locations.

ANGIE MARKS

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NATIONAL SALES DIRECTOR

First American Mortgage Solutions’ appraisal applications leverage the country’s largest property database

ignificant technology trends continue to change the way people interact and work, and collateral valuation is no exception. First American continues to innovate its valuation business by delivering instant access to property data, improving collaboration among appraisers, appraisal management staff and lenders, and implementing cutting-edge quality assurance tools. This results in increased efficiency and greater accuracy, leading to an excellent customer experience. First American offers an integrated suite of staff and network appraisal products and services, including standard appraisals, collateral inspection services and hybrid valuations through First American Mortgage Solutions’ Appraisal Management Company (AMC) and the First American Staff Appraiser Company. This unique valuation offering is bolstered by the industry’s largest, most comprehensive database of property and homeowner information and recorded document images. Traditionally, appraisers gather information manually in the field and return to their desktop for data entry. However, both First American’s network and staff appraisers receive a comprehensive property data report before inspection, allowing them to better understand the subject property, establish comparable data and quickly identify potential complexities. Leveraging the company’s proprietary technologies – ACI Sky Delivery and ACI Sky Review – helps speed up the process and provides easier access to data for assessing the property. ACI Sky Delivery applies dynamic rules to identify exceptions and render real-time results, while ACI Sky Review offers an interactive window into the appraisal report, empowering greater quality control. These features enable quick and efficient review of the reports and increase the quality of the services First American provides through both its AMC and Staff Appraiser Company.

Angie Marks works alongside executives to strengthen customer relationships and collaborate across departments to create operational efficiencies and improve end-user experience.

December 2021/January 2022

Even as First American continues to innovate its technology, the company relies extensively on its vetted panel of experienced and knowledgeable appraisers to deliver a robust, high-quality valuation. Using the First American valuations platform, network appraisers are more efficient, and their valuations are more accurate. “Our applications incorporate the country’s largest property database and our innovative QC technology in everything we do,” said Peter Krumm, chief appraiser, First American Mortgage Solutions. “Appraisers can choose to use the information provided or amend it based on their inspection and expertise. With built-in, automated quality controls, appraiser reports are checked as they are submitted, helping them adhere to lender requirements. Not only does this cut down on the back-and-forth between valuation experts, lenders and borrowers, it also boosts efficiency and improves accuracy, which ultimately reduces inconveniences for homeowners.” “We understand how important data integrity is to our clients,” said Angie Marks, national sales director, First American Mortgage Solutions. “We are always seeking ways to leverage technology to eliminate data omissions and compliance issues. With the implementation of recent technology enhancements, pre-delivery report rejections have decreased by 42%.” By leve r a g i ng au t om a t ion, F i r s t American’s AMC lessens the administrative time spent on reports, reduces revision rates and generates a paper trail for quality assurance. “Our valuations technology and automation solutions not only help First American deliver a better experience for our lender and AMC customers,” said Matt Hocevar, senior director of valuations and head of First American Mortgage Solutions AMC. “But these solutions also help us achieve it faster and with higher quality.”

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Incenter’s virtual appraisal solution brings “armslength” photos back to the remote inspection process

s many housing professionals saw firsthand, the valuation process was disrupted by the coronavirus pandemic. With social distancing and lockdown orders, appraisers struggled to determine a home’s value without being there in person. To help mitigate these pain points, Incenter Appraisal Management is offering remote BPO and remote inspection capabilities paired with AVMs. These virtual solutions enable lenders and servicers to get their eyes on a property, regardless of whether they can appraise it in person – as long as the homeowner has access to a cell phone. “Unlike any bifurcated or traditional ‘in-person’ inspection product, the inspector, agent or appraiser is able to see and view the images and video of the home by using the homeowner like a ‘human tripod,’” explained Mark Walser, president of Incenter Appraisal Management.

From an accuracy perspective, the pictures and images generated are geo-location coded and meta-tagged, and the inspector can see and mark up the images in real-time without the risk of missing something out of frame. Not only does this solution benefit the inspector but also the borrower. They don’t have to have someone physically visit their home and they don’t have to download an app or do any of the work themselves. “This remote process makes for 100% accuracy and zero possibility of image manipulation from the person at the property holding the camera,” Walser said. “This also ‘future-proofs’ the inspection process from any potential negative impacts like pandemic lockdowns or natural disasters. As long as there is someone at the property, an inspection can be done in hours or days, not weeks.” The remote BPOs and remote inspections keep the process going, even during

INCENTER www.incenteram.com

THE EXECUTIVE:

MARK WALSER PRESIDENT OF APPRAISAL MANAGEMENT Mark Walser is responsible for overseeing operations, sales and technology for the company nationally and supporting its sister brands.

“It’s a game-changer for consumers and speeds up the inspection process while also keeping the homeowner and inspector safe.” - Mark Walser, President of Appraisal Management

a lockdown. Using this technology, homeowners, lenders and inspectors don’t have to worry about putting off the inspection process or skipping it altogether. The many applications for financial institutions of this technology include Home Equity Lending to Insurance inspections. “It’s a game-changer for consumers and speeds up the inspection process while also keeping the homeowner and inspector safe,” Walser added. “Our solution brings back the notion of ‘arms-length’ images to a remote inspection process, which is something the industry definitely needs right now.” 39 ❱ HOUSINGWIRE

Incenter’s Remote BPO and remote inspections don’t require homeowners to download mobile applications and take pictures on their own. The inspector attesting to the home inspection or the real estate agent performing the BPO Inspection is able to take the pictures they want via the owner’s camera. This process speeds the return of accurate broker price opinions and inspections to the lender, without borrowers or third parties visiting the property or manipulating the images, introducing a crucial “arms-length” component of the process previously unavailable in a mobile inspection performed with a homeowner.

December 2021/January 2022

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NATIONWIDE APPRAISAL NETWORK (NAN) www.nan-amc.com

THE EXECUTIVES:

JONI PILGRIM FOUNDER AND CEO Joni Pilgrim oversees all day-to-day operations and executes on NAN’s vision and mission to revolutionize the way appraisal management companies operate.

STEVE SUSSMAN CHIEF BUSINESS DEVELOPMENT OFFICER Steve Sussman develops and fosters longterm relationships with new and existing clients, and takes the necessary time to understand their challenges to offer solutions.

CARI PINKERT

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FOUNDER AND CHIEF INFORMATION OFFICER Cari Pinkert is responsible for optimizing and managing the overall operation of NAN’s IT department and the technology development of both internally-facing and externally-facing systems.

Nationwide Appraisal Network’s valuation solutions allow lenders to select appraisers based on performance

ith an increased demand for appraisals, the need for efficiency during the appraisal process is greater than ever. Nationwide Appraisal Network (NAN) is an industry-leading appraisal management company providing residential and commercial valuation services in all 50 states. NAN’s advanced data and predictive analytics provide lenders with a suite of valuation solutions that help streamline the appraisal process, and stakeholders in this industry seek out AMCs who are at the forefront of innovation. NAN offers a combination of technological innovation and common-sense efficiencies, which add up to a true competitive advantage for its lender/broker partners. NAN’s valuation solutions give lenders the chance to evaluate, select and manage appraisers based on their quality and performance. NAN utilizes technology that evaluates appraiser key performance indicators (KPIs) in real-time and generates a score based on quality and performance milestones, including turn times, CU scores, an on-time percentage, and even a percentage of value disputes. “It’s one thing to be able to leverage technology to optimize the selection of appraisers for the best possible outcome, but to consistently raise the bar on turn times and communication to create a ﬂawless customer experience every time – that’s what sets us apart,” CEO Joni Pilgrim said. “We work to modernize the way appraisal management companies provide valuation services through innovation, transparency, accountability and world-class service.“ NAN’s suite of solutions ensures compliance with federal and state guidelines. In terms of performance, it decreases turn times, while increasing appraisal quality and reliability at the same time. By removing subjectivity from appraiser selection and replacing it with a transparent, objective approach, NAN improves the quality and performance of the appraisal process.

December 2021/January 2022

“It’s in our DNA to always be on the forefront of technology, and our usage of advanced data and analytics, along with performance-based appraiser incentives, has not only allowed us to raise the bar on turn times and report quality but allows our clients to truly hold us accountable and review our performance in real-time,” said Steve Sussman, chief business development officer. NAN’s predictive analytics allow files to be assigned to the best performing appraisers in each market based on thousands of data points. By leveraging KPIs for all local market appraisers, appraisers are dynamically scored in real-time, and NAN seeks the highest-scoring appraiser for each assignment. “What differentiates us can differentiate our lending partners too. It’s the difference between a regular AMC and a ‘smart’ AMC,” Founder and Chief Information Office Cari Pinkert said. “We listen to our clients and pivot quickly. By investing in business intelligence tools, NAN transforms appraiser selection and increased efficiencies for lenders.” The technology ensures a compliant method of selection based on past performance and predictive analytics, and NAN’s concierge approach to service allows them to combine that data-driven approach with a genuinely human touch. The result is a seamless experience for the broker/lender community, where appraisals are completed efficiently, without sacrificing quality. “Our lender partners are always in the know and can focus on what really matters, which is closing loans. What we do as a leading national AMC provides our clients and their borrowers peace of mind,” Sussman said. “They can close confidently, knowing the best lending decision was made for the biggest investment of their life because we were able to ensure a top-quality appraisal report completed by the most qualified appraiser for the job.”

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eal estate technology has changed the appraisal piece of the “supply chain.” rapidly over the last few years, and It combines Valligent’s innovative virtual property valuation is no exception. appraisal technology, which allows an inToday, borrowers and lenders alike expect spector to walk through a home virtually, an easy and expedited home loan experi- take photos and assign a condition rating ence. And to make that happen, lenders to each room, with Quantarium’s indusneed a solution that streamlines the ap- try-leading and highest-ranked automated praisal process and eliminates potential valuation cascade. This valuation solution uses Quantarium’s mistakes. Appraisals are often time-consuming. AI to understand and optimize information Efficient data collection with aggregation based on the specific neighborhood, zip and next-generation market analytics can code and county level. QV M Insig ht s drastically impact leverages real-time the closing pro streaming data process. Quantarium, “QVM Insights delivers a vided by Valligent, an artificial intellistandardized, consistently combined w ith gence and RE data repeatable valuation process proper t y- centr ic analytics company, that dramatically reduces risk data. It also facalong with Valligent and offers seamless technolotors in the effects Technologies, a valgy to speed up the revaluation of foreclosures, reuation technology process.”-Jeremy McCarty, Cocent sales and other innovator and an Founder and CEO of Valligent data inputs from appraisal managevirtual inspection ment company, created QVM Insights. QVM Insights combines to room-by-room condition. Using this invirtual inspection technology with indus- formation, QVM Insights arrives at a valutry-leading automated valuation services ation outcome. “QVM Insights delivers a standardized, for professionals in the real estate ecosystem. Through the power of Quantarium’s consistently repeatable valuation process AI, combined with Valligent’s virtual in- that dramatically reduces risk,” Co-Founder spection insights, this solution incorpo- and CEO of Valligent Jeremy McCarty said. rates real-time updates of a property’s con- “From cutting-edge virtual appraisal techdition to provide the most comprehensive nology to AI-driven Quantarium Valuation Services Platform, QVM Insights offers and accurate digital RE valuations. “From independent professionals to seamless and innovative technology to mortgage companies, banks and GSEs, speed up the revaluation process.” The typical appraisal process can be time the QVM Insights solution applies to vast swaths of the residential real estate foot- intensive and take weeks to months to comprint,” Quantarium CEO Clement Ifrim plete. Consumers, lenders, regulators and said. “QVM Insights provides the most com- GSEs all demand and deserve exceptionprehensive snapshot available today and al velocity, accuracy and breadth in their sharpens the overall property valuation valuation solutions. Integrating a virtual, process, as well as provides access to the automated-yet-accurate and inexpensive industry’s latest and most comprehensive solution is key to increasing efficiency. QVM Insights provides accelerated valuations to property insights.” QVM Insights is an easy-to-use, accu- increase loan approval rates and help lendrate and technology-driven way to manage ers retain customers.

December 2021/January 2022

QUANTARIUM AND VALLIGENT TECHNOLOGIES www.quantarium.com www.valligent.com

THE EXECUTIVES:

CLEMENT IFRIM CO-FOUNDER AND CEO OF QUANTARIUM Clement Ifrim is a visionary entrepreneur, 15 year Microsoft veteran and computer research scientist who co-founded Quantarium along with colleague John Smintina, Ph.D.

JEREMY MCCARTY CO-FOUNDER AND CEO OF VALLIGENT Jeremy McCarty is a leader in developing next-generation property valuation solutions in conjunction with his co-founder Jeff Wickham.

41 ❱ HOUSINGWIRE

QVM Insights from Quantarium & Valligent Technologies delivers a standardized valuation process to reduce risk

Sponsored Content

RADIAN www.radian.com

THE EXECUTIVES:

KADE CLARK SVP, RED BELL REAL ESTATE, A RADIAN COMPANY Kade Clark is responsible for the daily business operations of Red Bell Real Estate.

KATIE BREWER SVP, VALUATIONS SERVICES OPERATIONS

o effectively complete the valuation professional to physically visit the property. “With up-to-date photos, mapping and process, lenders and mortgage companies need access to accurate data. satellite imagery, property histories and adRadian’s Red Bell subsidiary offers two val- ditional data, RIV gives clients the informauation services powered by real estate data tion they need to make informed decisions and cutting-edge proprietary technology, to about property condition, property price help lenders and other real estate profes- and the most relevant comparables,” said sionals make decisions quickly and confi- Katie Brewer, Radian’s SVP of Valuations dently: Radian Automated Valuation Model Services Operations. Both the Radian Automated Valuation (AVM) and Radian Interactive Value (RIV). Red Bell’s automated valuation solutions Model (AVM) and Radian Interactive Value leverage large-scale data from over 400 (RIV) are used by clients in the mortgage MLS’s, covering over 90% of the U.S., and and real estate industry. When deciding use sophisticated analytics to quickly and between the two, clients can choose the accurately price virtually any single-fami- service that best fits their unique needs. “If users are looking to review their entire ly property in the country. Each service is portfolio value or make a quick decision uniquely suited to a variety of use cases. on a HELOC for exThe Radian AVM ample, we would recleverages Red Bell’s ommend the AVM,” dat a set a nd ad“Clients choose us for the Clark said. “For a va nced modeling speed, accuracy and covermore interactive exto accurately price age of our solutions, but properience that gives a l m o s t a ny s i n viding an excellent user expethe user control to gle-family properrience is also very important review property dety on-demand. The to us” - Katie Brewer, SVP of tails and comparaRadian AVM is indeValuations Services Operations bles for instances pendently tested and such as valuation approved by Fitch Ratings as an approved supplier of AVMs rebuttals or setting a listing price for an for residential mortgage-backed securities individual home, the RIV is the best option in the marketplace.” (RMBS) transactions. In addition to providing comprehensive “The Radian AVM offers speed and accuracy that makes it an indispensable tool data and analysis, Radian and its subsidifor use cases such as bulk portfolio valua- ary companies also work with an extensive tion and HELOC decisioning,” Red Bell Real list of tech partners to ensure clients can streamline their workﬂows. Estate SVP Kade Clark said. “Clients choose us for the speed, accuraRadian Interactive Value also incorporates Red Bell’s data set in an interactive cy and coverage of the solutions we offer, format that can be accessed from any de- but providing an excellent user experience vice. The RIV is based on community-spe- is also very important to us,” Brewer said. cific data that provides a tailored, in-depth “In addition to redesigning several of our analysis of a particular property, as well as services last year, in the coming months we the rental environment surrounding it to will be unveiling a newly designed Radian help clients perform expert property-specif- AVM that will enhance the experience for ic analysis, without the need for a valuation our customers.”

42 ❱ HOUSINGWIRE

Katie Brewer defines and creates innovative approaches to property valuation in order to ensure quick delivery, optimal quality and client satisfaction for all valuation services.

Radian’s valuation services leverage large-scale data to accurately price virtually any home in the country

December 2021/January 2022

Sponsored Content

Reggora’s appraisal platform provides automatic status updates to all stakeholders to increase transparency

THE EXECUTIVES:

BRIAN ZITIN CO-FOUNDER AND CEO Brian Zitin is responsible for the company’s overall vision and direction, ensuring Reggora stays focused on serving the best interests of the industry and its customers.

WILL DENSLOW CO-FOUNDER AND CTO Will Denslow leads all engineering strategies and initiatives, ensuring Reggora delivers innovative, agile and scalable solutions to its lender customers and appraisal vendors.

KEVIN FLYNN VICE PRESIDENT, PRODUCT Kevin Flynn leads product innovation and development for Reggora and works with a team of people focused on user feedback to ensure the best possible product is delivered to customers. 43 ❱ HOUSINGWIRE

here’s no denying the complexity of al waivers and new appraisal flexibilities the appraisal process. With so many spurred by COVID-19. Using Reggora’s people involved – including the ap- platform makes it easier for mortgage praisal desk, loan operations, loan offi - lenders to process more appraisals and cers, underwriters, the IT/product team, increase their loan capacity. Reggora also borrowers and appraisal vendors – there’s helps appraisers themselves spend less room for error that could negatively impact time on tedious tasks and more time focused on appraisals. the home buying experience. “The FHFA Request for Input on ap“Appraisal is one of the most time-consuming and inefficient parts of the lending praisal indicates that significant changes process,” said Brian Zitin, co-founder of are likely to hit the industry sooner than ma ny expected, Reggora. and it will be vital “In order to help for lenders and apthe mortgage inpraisers alike to dustr y reach its “The future of mortgage will leverage a platform m i s sion of t he be digital, unlocking new like Reggora’s to ‘o n e - d a y m o r t ways to leverage data and shift to new ways gage,’ we’re hyanalytics. Reggora is excited of doing business,” p e r- fo cu s e d on to be one of the few vendors Zitin said. streamlining the positioned to help lenders Reg gor a ’s ap entire appra isal immediately capitalize on this praisal platfor m process.” new era of lending.” i nc lude s a usReggora is driv- Will Denslow, Co-Founder and er-friendly intering appraisal inCTO face, robust and novation with a seamless integramodern platform tions and the abilfor mortgage lenders and appraisal vendors. The platform ity to streamline workflows and increase streamlines the entire appraisal process appraisal capacity. Reggora also provides automatic status with advanced automation, major LOS and POS integrations, and customizable updates to all stakeholders to create transparency and accessibility through its LOS workflows. Lenders and appraisers using Reggora’s and POS integrations. “We are excited to help lenders become platform benefit from algorithmic appraisal ordering, advanced payment process- more strategic about the way they maning, and automation across appraisal re- age their appraisal operations,” stated Will view, appraisal delivery, status updates, Denslow, co-founder of Reggora. “The fuand more. The technology enhances effi- ture of mortgage will be digital, unlocking ciency, resulting in faster turn times and new ways to leverage data and analytics a better experience for everyone involved. to power things such as appraisal vendor Reggora is designed for the future of selection, risk management and quality valuation, which is expected to embrace assurance. Reggora is excited to be one new synergies between technology, data of the few vendors positioned to help lendand human intelligence. This is already ers immediately capitalize on this new era taking shape through growth in apprais- of lending.”

REGGORA www.reggora.com

December 2021/January 2022

Sponsored Content

VALUELINK SOFTWARE valuelinksoftware.com

THE EXECUTIVES:

FARRUKH OMAR COO Farrukh Omar founded ValueLink Software in 2009. At ValueLink, Omar oversees all aspects of the operations, including product development, technology and infrastructure.

AQIL AHMED SVP OPERATIONS Aqil Ahmed oversees the day-to-day operations, manages the sales and operations teams and is directly involved in formulating the sales strategy.

BILL OMAR

ValueLink Software’s all-in-one valuation management solution includes a full spectrum of appraisal products

aluations are one of the most important parts of the loan process, and often the most time-consuming as well. Appraisals that contain errors or are not delivered on time can cause delayed closings or, in some cases, result in the loan falling through altogether. The valuations industry is currently undergoing major changes. A declining population of appraisers coupled with a surge in origination volumes has accelerated efforts to modernize the valuation process. These include shifting from traditional appraisals to alternative valuation products like Hybrids, Inspections and AVMs, where deemed suitable, to expedite the valuation process and reduce costs of origination. ValueLink Software provides the industry-leading all-in-one valuation management solution that enables lenders and appraisal management companies to not only manage traditional appraisal products but also a full spectrum of modern valuation products like hybrids, inspections and AVMs in a unified platform. Aqil Ahmed, SVP Operations at ValueLink Software, emphasized the importance of cost-effective alternatives to traditional valuation solutions at a time when loan originations are increasing rapidly during the COVID-19 pandemic. “Lenders are facing significant technical bandwidth constraints in the current environment,” Ahmed said. “Our unified valuation management platform offers lenders a wide spectrum of valuation solutions that are tailored to their requirements. Because of this solution, our customers have experienced up to a 40% improvement in order turn-times and significant operational

SVP CLIENT RELATIONS

44 ❱ HOUSINGWIRE

Bill Omar oversees the company’s support and onboarding teams and is involved in the technology behind ValueLink products.

December 2021/January 2022

efficiencies.” Innovation is at the heart of ValueLink and enables the company to quickly respond to the changing needs of the industry. With the onset of the pandemic, Fannie Mae and Freddie Mac introduced temporary ﬂexibilities to the valuation process which paved the way for advancements in the process. Within a month of the social distancing guidelines issued by the FHFA, ValueLink introduced a mobile-based remote property inspection tool, HomeView, which enables homeowners to easily collect information and photos of the property and submit it to the appraiser. Valuelink offers seamless integration with over 40 Loan Origination Systems, and Valuation Ordering Platforms. Its customers love the fact that they can simply plugand-play with their origination platforms and deliver a user-friendly, transparent, and efficient experience to their customers. With over 50 in-built reports, a powerful Report Builder tool and intuitive Analytics, ValueLink provides the most comprehensive suite of business intelligence tools to users. With data at their fingertips, customers can make faster, more informed decisions when planning for growth. “At ValueLink, we see the challenges associated with valuations as our biggest opportunity and firmly believe innovation will help eliminate these bottlenecks. We are uniquely positioned to cater to the complete valuation spectrum by providing Lenders and AMCs an all-in-one solution to manage traditional and modern valuation products while delivering a cohesive experience to their consumers,” added Farrukh Omar, COO at ValueLink Software.

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December 2021/January 2022

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Black Knight.............................48 Radian ......................................49

December 2021/January 2022

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THE EXECUTIVES:

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uying and selling a home can be challenging, and the real estate process is often time-consuming and stressful. But it doesn’t have to be that way. One of the most challenging aspects in a real estate transaction is the valuation process. A simple mistake could drastically slow down the process and frustrate lenders, home buyers and sellers. And the impact of the pandemic has complicated this process even further. Black Knight’s REvolution suite provides appraisers and other valuation professionals with a seamless appraisal process from property inspection to report delivery. REvolution features several innovative solutions, including SCOUT, a cloud-based mobile property inspection app that supports safe social distancing by enabling remote property inspections. Using SCOUT, homeowners, inspectors, real estate agents and appraisers can collect property data on a mobile device. “SCOUT enables remote property inspections, which has been critical during the COVID-19 pandemic,” Black Knight’s CEO Anthony Jabbour said. “This solution and the REvolution suite’s other valuation and appraisal products help significantly streamline what is traditionally a time-consuming process.” Unlike other solutions in the industry that must be used with proprietary systems, SCOUT can be used as a standalone product or alongside Black Knight’s appraisal platform, CA REveal. The SCOUT mobile app enables the inspection data to be imported into the CA REveal platform, which is part of the REvolution suite. On the CA REveal plat-

December 2021/January 2022

form, appraisers and other valuation experts can review the collected information, use data-rich analytical tools to analyze market activity, and produce dependable and defendable appraisal reports. The platform can produce any type of valuation, including appraisal, hybrid or broker price opinion (BPO). “These solutions, as well as the other products offered in the REvolution suite, help create efficiencies in data collection, analysis and appraisal report delivery,” said Ben Graboske, president of Black Knight’s Data & Analytics Division. “With the solutions’ innovative and flexible features, real estate professionals can easily connect to their existing workflows without missing a beat.” Other products in Black K night ’s REvolution suite can also help identify complex subject properties so users can select the appropriate valuation solution and appraisal fee upfront, helping save time, money and making the process more efficient. Black Knight’s technology automates time-consuming tasks, modernizes processes and creates efficiencies to let real estate professionals focus more of their time and resources on high-value tasks that drive more business. “Black Knight is the only company that offers end-to-end solutions across the real estate and mortgage life cycle,” Jabbour added. “This enables us to continue developing unique, integrated solutions, such as powerful real-estate-related business intelligence, that will further help companies improve the customer experience, drive strategy, manage risk and create growth opportunities.”

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s the real estate industry braces for the end of forbearance moratoriums, housing experts are anticipating an increase in foreclosures and REO activity. In preparation for that influx, asset managers, servicers and investors need to ensure they have the tools and technology to successfully navigate this unpredictable time. Pyramid Platform, Radian’s award-winning asset management technology, can help users swiftly adapt to fluctuations in the REO environment. Pyramid Platform automates and organizes every step of the REO asset management process through a secure webbased portal. Pyramid Platform users can customize their REO management workflow to trigger tasks based on their unique needs. This helps users execute and manage investment strategies, from listing to liquidation. In addition, Pyramid Platform offers users a variety of other workflows, including deed-in-lieu, short sale, acquisition, rental management, and more. “Following an unprecedented year like 2020, Radian’s Pyramid Platform allows clients to prepare for changes, as they happen in real time, through customized and intuitive workflows that help them more effectively and efficiently manage their real estate portfolios,” said Tim Reilly, EVP of Asset Management Operations. With features like drag-and-drop uploading, automatic document labeling and expense tracking, Pyramid makes managing a real estate portfolio simple and intuitive. Pyramid Platform also simplifies reporting via customizable dashboards where users can track key performance indicators, tasks, and timelines. “Clients can utilize real-time and customizable reporting, as well as direct data warehouse access,” said Rebecca Smith, VP of Sales and Business Development. “Robust, transparent reporting is essential for asset managers who want to proactively manage their portfolios and track progress.” With Pyramid Platform, clients can also:

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Access Radian’s network of thousands of vendors. Prioritize tasks with effective rolebased dashboards. Integrate with Radian’s various pricing products. Take advantage of built-in logic and validations that save time and improve data integrity. Reduce delays and navigate the real estate closing process with ease.

As the market fluctuates, servicers and asset managers need flexible tech that allows them to focus their talent on strategy rather than managing repetitive tasks. Pyramid Platform uses intelligent automation to lift the load and helps improve ROI, whether the user is managing 40 properties or 4,000. “Our customers choose P y ra mid Platform because it allows them the flexibility to design their optimal workflow, manage their real estate assets, and nimbly pivot as the needs of those portfolios may change to match market conditions,” added Smith. “The platform was designed by users in today’s ever-changing environment who understand that the most efficient and effective workflow solutions are those that can be customized quickly and adjusted easily to meet user preferences and specific client needs,” said Smith. Now is the time for savvy asset managers, servicers and investors to prepare for the anticipated wave of foreclosure activity coming and ensure they have the people, processes, and technology ready to meet the challenge ahead. “Our award-winning asset management technology is prepared to handle the influx of loss mitigation, foreclosure, eviction, and REO activity when moratoriums are lifted, and with its scalability, the system can quickly help portfolio investors, servicers and outsource providers to be prepared for the rapidly changing real estate market,” Reilly said.

December 2021/January 2022

THE EXECUTIVES:

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- SPECIAL REPORT -

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Wholesale Lender Special Reports

ortgage brokers don’t just prepare documents; they manage customer relationships and work

with all parties to ensure an easy real estate transaction process. Due to the current market, brokers are having to do even more to ensure their clients are receiving excellent service. To maintain their portfolios, brokers are turning to wholesale lenders who can provide the technology and resources needed to help service their clients. The 10 companies featured in this section offer solutions to help brokers handle high volumes so they can close loans faster and

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more efficiently.

December 2021/January 2022

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Angel Oak.................................................................52 Caliber......................................................................53 CF Wholesale.....................................................54 Finance of America...................................................55 Flagstar Bank ..........................................................56 Freedom Mortgage...................................................57 PennyMac................................................................58 ServiceLink.............................................................59 Sierra Pacific ...........................................................60 United Wholesale Mortgage .............................61

December 2021/January 2022

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ANGEL OAK angeloakms.com

THE EXECUTIVES:

MIKE FIERMAN, MANAGING PARTNER AND CO-CEO OF ANGEL OAK Mike Fierman successfully provides strategic direction and leadership to Angel Oak’s various businesses, focusing primarily on mortgage lending and asset management.

TOM HUTCHENS, EVP, PRODUCTION Tom Hutchens leads sales for Angel Oak’s wholesale and correspondent lending platform, with proven success in the expansion of a lending footprint nationwide.

MARK LIVELY, EVP, OPERATIONS

t the beginning of the pandemic, some lenders avoided non-QM loans because without a government guarantee backing them, they were considered risky. It was also difficult to truly determine a borrower’s ability to repay. But now, as the housing market remains stable, non-QM products are making a comeback. However, while non-QM lending gives lenders the opportunity to diversify their product offerings, there is still some hesitancy across the industry. There are still many originators who do not understand non-QM and count on refinance volume and Agency business to get them through. Angel Oak Mortgage Solutions offers alternative specialized mortgage solutions for brokers and correspondent lenders throughout the country to grow their business so borrowers who don’t fit conventional guidelines can get matched with the right loan. One of Angel Oak’s most popular products is its Bank Statement mortgage loan, which is ideal for self-employed borrowers who can’t use tax returns to qualify for a loan. Angel Oak also offers a no-income Investor Cash Flow product specifically for real estate investors — no tax returns or employment information is required. With this loan, Angel Oak qualifies borrowers based on rental analysis to determine the cash flow of the property. Additionally, Angel Oak offers two Jumbo options — Prime Jumbo and non-QM Platinum Jumbo. The latter serves homebuyers who don’t qualify for traditional loans and need more flexibility to purchase their home. “No need to turn anyone away — when an agency isn’t an option, we simply move right into a non-QM product and get it closed,” said Mark Fierman, managing partner and co-CEO. “This is why brokers

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Mark Lively leads the development of underwriting, policies and procedures, effectively delivering cutting-edge quality control and fraud prevention.

Angel Oak Mortgage Solutions’ non-QM products give brokers the opportunity to diversify their offerings

December 2021/January 2022

consider us a go-to resource, because of our innovative non-QM products and our technology that makes the loan process seamless and easy.” Fannie Mae has tightened its guidelines, making it difficult for many borrowers to qualify for agency loans. Jumbo borrowers, self-employed borrowers, real estate investors and those with credit events, in particular, need non-QM options that are quick and easy to close. “Brokers who work with us know how easy it is to work with us and they have been rewarded with increased referrals due to saving deals for their clients,” said Tom Hutchens, executive vice president of Production. “We get them to the closing table quickly and we’ve proven to them how non-QM helps keep the pipelines full.” At its core, Angel Oak is a vertically integrated alternative credit manager with a focus on the non-QM segment. The mortgages the company generates are based on guidelines they set and are 100% underwritten by Angel Oak underwriters. The loans are then sold to an affi liated asset management company where they are aggregated and securitized on behalf of institutional clients. A good majority of lenders originate to sell their loans — Angel Oak originates to hold loans. This vertically integrated partnership also yields benefits for Angel Oak wholesale clients through surety of execution. “Since we are vertically integrated, we can move quickly on guidelines and pricing when needed because the decisions are made exclusively by Angel Oak managers,” said Mark Lively, executive vice president of Operations. “Our vertical integration with asset management provides a powerful, timely information feedback loop that we can deploy in our origination efforts when market conditions change.”

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With Caliber Reconnect, brokers are alerted when their borrower is likely to refinance or purchase a new home

n today’s hot housing market where maintain their relationships. homes are selling quickly, brokers are Caliber Reconnect includes MLS Trigger busier than ever. As purchase transac- that alerts brokers when a shared borrowtions move back to the forefront of lending, er’s property has been listed for sale on the broker channel will only continue to MLS. Caliber’s Purchase Predictor also grow and gain momentum. sends brokers an alert when a shared borCaliber Home Loans, Inc., a home loan rower is identified to have a high propensicompany, offers resources to help support ty to purchase a new home now, or in the a broker’s business for continued success. future. “‘High tech — High touch’ is our mantra “Since starting the program in May 2018, as we develop industry-leading tools and Caliber has provided nearly 200,000 noresources w ith tif ications to a never- ending their broker comcommitment to m u n i t y, ” s a i d the relationships David Schroder, with our brokers “What makes Caliber different, EVP, Third Party and team memand powerful for brokers, is our Originations. bers,” CEO Sanjiv broad presence and knowledge “While embracing Das said. of the markets.” technology, we’ve Caliber offers - Tony Kottenbrock, SVP, Wholesale never lost sight of a “triple play” of Lending the value in local resources to help connection with elevate a broker’s regionally-based business. underwriters, exT he f i r s t r e perienced Account source is its newly Executives who renovated Broker Portal that brings the can consult with confidence, and handspower of its proprietary H2O origination on product expertise like our dedicated VA system together with an elegant interface Lending team.” to highlight next steps, critical tasks, and Caliber’s broker partners receive their key contacts. The second, Caliber Club, own Account Executive and access to exwas created for brokers to enjoy unique perienced loan professionals who know the access to education and networking with- requirements of their specific region. in the broad enterprise. The third, Caliber “What makes Caliber different, and powReconnect, alerts brokers when their cus- erful for brokers, is our broad presence tomers are likely to refinance or purchase and knowledge of the markets,” said Tony a new home. Kottenbrock, SVP, Wholesale Lending.“Our By investing in retained servicing, Caliber six regional operations centers know your also supports broker partners’ relation- market and enable real relationships when ships for life through programs like Caliber you need experienced support. Caliber is Reconnect, which creates referral opportu- a leader in all origination channels which nities using the same sophisticated mod- empowers brokers with the insights that we eling that Caliber’s direct channels use to bring.”

CALIBER caliberhomeloans.com

THE EXECUTIVES:

SANJIV DAS, CEO Sanjiv Das is a senior financial executive with over 30 years of extensive experience in consumer banking and capital markets and a track record of leading large financial service organizations, both within the United States and internationally.

DAVID SCHRODER, EVP, THIRD PARTY ORIGINATIONS David Schroder has worked to innovate and achieve breakthrough growth in mortgage origination through digital marketing, dynamic sales delivery, customer-oriented process design and team member empowerment.

TONY KOTTENBROCK, Tony Kottenbrock has over 28 years of mortgage lending experience and has been in a sales leadership role for Caliber Wholesale for almost eight years.

December 2021/January 2022

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SVP, WHOLESALE LENDING

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CF WHOLESALE cfwholesale.com

THE EXECUTIVES:

COLIN TREEND, EVP, WHOLESALE LENDING Colin Treend, a founding member of Cardinal Financial, helped turn the firm into a mortgage company that leverages tech to lower costs while delivering great service.

KARL BENJAMIN, SVP, WHOLESALE LENDING

rom maintaining customer relationships to preparing documents, brokers do it all. And due to today’s booming housing market, they’re having to do even more. To maintain their portfolios while also providing excellent service, brokers need a partner who can make things easier for them. CF Wholesale provides brokers with the resources and technology to drive their business and serve their clients. Brokers choose to work with CF Wholesale again and again because of its in-house technology, innovative processes and hyperfocus on service, all of which give brokers the power and the freedom to get more done, close more loans, and ultimately grow their business. “For years, we’ve heard brokers say ‘Just let me do it,’” said Colin Treend, executive vice president of Wholesale. “At CF Wholesale, we give them the tools to self-serve. We get it. Sometimes they just get it done faster when they do it themselves.” W hen a broker pa r tners w ith CF Wholesale, they gain access to Octane, the in-house loan origination technology that compresses turn times and gives them full control. Its speed, efficiency, and precision remove friction from the process and ensure every critical deadline is met. “Our brokers can trust that Octane will work behind the scenes at a revolutionary speed while they spend more time where they need to — with clients and referral partners,” added Treend. Octane’s high level of automation means brokers have fewer manual tasks to complete, giving them more time back in their day to go get more business. The technology offers:

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With over 20 years of experience, Karl Benjamin is a Certified Mortgage Banker and advocates for brokers because he believes they provide excellent service.

CF Wholesale’s Octane loan origination technology gives brokers the full control they desire

December 2021/January 2022

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Instant changes of circumstance: In a matter of clicks, a broker can change their client’s loan details, automatically redisclose, and instantly update their approval. Closing prep control: Brokers can quickly generate their own closing docs, which means they can close their purchase loans on time. Piecemeal conditions: Brokers can send documents as they are received from their clients. Octane also proactively accepts piecemeal conditions to avoid last-minute surprises. Powerful pipeline: Brokers can view all of their loan details at a glance. 24/7 access: Octane can be accessed all weekend long with lock and disclosing ability and legitimate point-of-sale approvals. Real-time updates: The technology will send the broker a clear, automated email with an update on what’s happening at every critical checkpoint. If there’s anything that needs attention, Octane lets brokers know quickly so they can communicate it to their clients.

In addition to regular maintenance, a new version of Octane is deployed weekly, allowing CF’s team of engineers to continuously enhance the system. “Our promise to our broker partners is that we genuinely want them to succeed,” said Karl Benjamin, senior vice president of Wholesale Lending. “We’ve spent time and resources getting the right processes in place, and we’re serious about making sure our brokers’ concerns are taken care of. We understand the pain points of the broker community.”

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or a long time, conventional refinances were the norm in product offerings. Now, the focus is on the hot purchase market, and brokers are looking for solutions outside the conventional conforming product box to assist their client base. That’s where Finance of America Mortgage (FAM) TPO’s Two-X Flex suite of proprietary jumbo and non-QM products comes into the picture. “Our products empower brokers to assist more people who would otherwise be shut out of the traditional purchase market,” said Nectar Kalajian, senior vice president, channel leader, TPO. FAM TPO’s T wo-X Flex suite comes with additional products to give borrowers even more purchasing or refi nancing power, which allows them to qualify for loans based on factors outside of standard requirements. The proprietary loan suite includes: • Two-X Flex: a document that allows unconventional borrowers to qualify with two years of income. • Two-X Flex Bank: requires no tax returns and enables self-employed borrowers to qualify using bank statements. • Two-X Flex 1 Year: enables borrowers to qualify using only one year’s income. • Two-X Flex Asset: lets some borrowers qualify based on assets alone and no employment. “At FAM TPO, we pride ourselves on our knowledge of the business, superior customer service, and commitment to improving the lending process, which is why we offer a broad suite of products that enables our broker partners to help more borrowers who might not fit into the conventional lending box,” said Varant Herculian, vice

president, digital strategy and innovation, TPO. FAM TPO is a one-stop shop for all types of financial needs. From loan submission to servicing loans, its end-to-end, customer-fi rst lending process is all about ease, quick turn times and transparency. FAM TPO’s process helps brokers exceed client expectations and get to the closing table with minimal friction. FAM TPO’s account executives work to find brokers the right mortgage wholesale lending solutions for their clients. An AE will walk through the entire lending process and resolve any issues in real-time so brokers can focus on successfully managing their pipeline. By partnering with FAM TPO, brokers get the support, tools and resources they need to focus on better serving their clients and close their loans with confidence. “Our broker partners are surrounded by success and have a trusted support system to grow their business,” Kalajian added. “Our cutting-edge technology, knowing we can cater to their borrowers’ diverse range of fi nancial needs, immersive education, and other top-notch resources allow brokers to focus on what’s important — serving their client.” FAM TPO’s diversified lending channels allow broker partners to be at the forefront of the industry in any market condition or environment. “At our core, we are product innovators,” said Omar Cantillo, senior vice president, national operations manager, TPO. “FAM TPO will continue to find ways to assist our broker partners by launching products that allow them to capture more purchase business, help their first-time homebuyers and assist their past clients as they get ready to retire.”

FINANCE OF AMERICA MORTGAGE TPO famtpo.com

THE EXECUTIVES:

NECTAR KALAJIAN, SVP, CHANNEL LEADER, TPO With a 40-year history of working in the industry, Nectar Kalajian has overseen sales and operations in retail, wholesale, correspondent and direct-to-consumer channels throughout her career.

OMAR CANTILLO, SVP, NATIONAL OPERATIONS MANAGER, TPO Omar Cantillo has nearly 30 years of leadership experience in finance and executive operations. He has built an entire operation and sales region from the ground up.

VARANT HERCULIAN, VP, DIGITAL STRATEGY AND INNOVATION, TPO Varant Herculian has spent the last 25 years as a leader in mortgage technology with a focus on implementing and applying technology to drive adoption and creating a better experience for originators and borrowers alike.

December 2021/January 2022

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Finance of America TPO’s Two-X Flex suite allows brokers to help borrowers who don’t fit conventional products

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FLAGSTAR BANK flagstar.com/why

THE EXECUTIVES:

LEE SMITH, EVP, PRESIDENT OF MORTGAGE Lee Smith is responsible for the direction and oversight of all aspects of mortgage, including sales and origination, fulfillment operations and servicing, as well as the strategic growth of Flagstar’s mortgage and servicing businesses.

JOHN GIBSON, SVP, NATIONAL SALES DIRECTOR; WHOLESALE & CORRESPONDENT LENDING

s the housing market continues to Flagstar Bank’s scalable platform allows boom, brokers are having to man- brokers to choose how much or how little age high call volumes while also assistance they need. The company’s loyal providing clients with excellent customer account executives have an average of over service. To support brokers during this 12 years of experience and provide brokers busy time, Flagstar Bank has built out its with the right kind of knowledge to help technology, service and product infrastruc- clients. By partnering with Flagstar Bank, ture to give brokers more control over the brokers also gain direct access to its bestmortgage process and the ability to better in-class and experienced operations team. conduct business. “Flagstar is a well-capitalized bank with Flagstar Bank has supported the broker a strong balance sheet and diversified community for over three decades, provid- business model. We also have the ability ing loans for second homes and investment to provide lending solutions such as wareproperties, jumbo and high balance prod- house lending lines,” said Lee Smith, presiucts, as well as dent of Mortgage. all agency prod“F ur ther more, ucts. Flagstar’s “The broker channel is going to our RMBS securifocus isn’t just play a key role in the mortgage tization platform p r ov i d i n g t he industry over the next few years. allows more flexright products, That’s why Flagstar has strategiibility in product but also ensurcally aligned its priorities to be a of fer i ngs t ha n ing its technolomajor player and supporter of brosome non-bank gy complements kers nationwide.” lender s, e spe e a c h br oke r ’s - Lee Smith, President of Mortgage cia lly when it individual busicomes to investne s s. F lag st a r ment properties, Bank’s DIY disclosures, as well as its ac- second homes, jumbo and high balance celerated broker closing program, make loans.” this possible. With its one-stop-shop business model, “We continue to make investments in our Flagstar Bank has been able to successfully technology to streamline the process for help brokers manage clients through variour broker partners as well as integrate with ous economic scenarios. third-party platforms like Arive, Caylx All“The broker channel is going to play a key In and Brokers United,” said John Gibson, role in the mortgage industry over the next SVP, national sales director of wholesale few years,” Lee said. “That’s why Flagstar and correspondent lending. has strategically aligned its priorities to be Flagstar Bank provides comprehensive a major player and supporter of brokers training for brokers, including its Flagstar nationwide.” FLEX monthly webinar series. These webi“We’re committed to providing great sernars are specifically designed to educate vice,” Gibson said. “For over 30 years, we brokers by offering guidance from industry have brought stability and commitment to experts. the third-party origination market. Over all The company also recently rolled out that time, we have listened to our business Leadtrac, a trigger lead pass-back pro- partners to create offerings and services to gram exclusive to lender-partner program meet their needs. We’ll be there for them customers. as the space continues to grow.”

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With 27 years of experience in the mortgage industry, John Gibson is responsible for the strategic direction, growth and profitability of Flagstar’s broker and correspondent channels.

Flagstar Bank provides the right products and tech to support each broker’s individual business

December 2021/January 2022

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Freedom Mortgage Wholesale Division offers brokers a comprehensive purchase and refinance product suite grow and support the independent mortgage originator.“ The F reedom Mor tgage Wholesale Division offers a comprehensive purchase/ refi nance product suite that features unparalleled government lending expertise along with competitive conventional, VA and FHA pricing. Their account executives are experienced in the industry and have established themselves as product, pricing and industry experts. Along with their expertise, these AEs are accessible and committed to fostering strong relationships with their clients. “We are renowned industry-wide for helping brokers grow their business to become a Non-Delegated Wholesale Correspondent lender,” Bilodeau added. “In fact, last year, Inside Mortgage Finance ranked us as the No. 1 VA, FHA and GNMA lender.” “What sets us apart from our competition is our incredible team of industry veterans in both sales and operations,” said Les Acree, executive vice president, Third-Party Originations. “Our underwriting and operations teams are committed to a thorough and efficient loan process experience while maintaining a personal touch on every client interaction.” Freedom Mortgage’s Wholesale Division is dedicated to serving the needs of independent originators across the country. The company offers responsible homeownership options for first time and low- to moderate-income buyers, tools for brokers to communicate with borrowers and the support needed to serve those borrowers in a timely and effective manner. “When a lot of lenders priced themselves out of the market completely during the pandemic, we stood by our clients and were dedicated to serving their needs to the best of our abilities when they needed it the most,” Bilodeau said. “We stand by our business model and are proud of it. We will be here, we will be independent.”

THE EXECUTIVES:

LES ACREE, EXECUTIVE VICE PRESIDENT Les Acree is a renowned industry expert with over 37 years of mortgage experience serving as the EVP of Third-Party Originations at Freedom Mortgage since 2006.

KEITH BILODEAU, SENIOR VICE PRESIDENT Keith Bilodeau brings over 39 years of national retail and wholesale mortgage management experience in production, operations and capital markets.

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uring this period of significant opportunity for purchase transactions and refinances, brokers and wholesale correspondents (non-delegated) need to align to wholesale lenders that provide deep industry expertise, comprehensive products and efficient operational support to support their clients’ strategies. The Freedom Mortgage Wholesale Division offers their clients the industry’s most experienced sales and operational teams to support a full spectrum of products from conventional to government. As the nation’s leading VA and FHA lender according to Inside Mortgage Finance 2020, Freedom’s leadership gives its clients access to the platform and people needed to exceed expectations. By continuing to invest in its platform, the Freedom Mortgage Wholesale Division is able to provide clients with loan processes and technology that deliver greater levels of control, speed and ease. Freedom Mortgage’s experienced account executives have an average tenure of 8.5 years with Freedom alone, with 25% of them being with Freedom for over 10 years. Their experience allows them to consult with their clients to identify new and emerging market opportunities. The company also provides extensive product, credit and technology training to ensure clients can take advantage of new product benefits and process enhancements. In 2020, Freedom’s product and process training engaged over 2,600 unique mortgage companies on VA IRRRL Refi nance and FHA Streamline products, which was critical in helping borrowers save money during the pandemic. “Freedom Mortgage is one of the strongest advocates for the broker and wholesale correspondent communities,” Senior Vice President Keith Bilodeau said. “We are proud to support the National Association of Mortgage Brokers and their mission to

FREEDOM MORTGAGE freedomwholesale.com

December 2021/January 2022

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PENNYMAC BROKER DIRECT pennymacbrokerdirect.com

THE EXECUTIVES:

KIM NICHOLS, SENIOR MANAGING DIRECTOR, EXECUTIVE LEADER WHOLESALE CHANNEL A long-time industry force with leadership experience in all major production segments, Kim Nichols spearheads production and long-term strategy for the broker and non-delegated correspondent channels.

JEFF KEELAND, EVP, BROKER DIRECT FULFILLMENT Jeff Keeland is an operations powerhouse who leads the operational growth and excellence of the broker channel and brings 30-plus years of mortgage operations and production experience.

CHRIS LEGG,

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EVP, TPO STRATEGY AND INNOVATION

PennyMac delivers people, process and performance so brokers can build a sustainable business

s the world adjusts to its new normal, mortgage professionals are having to do the same thing. This isn’t an easy task, considering brokers have to adjust while also managing a high volume of clients due to the booming housing market. PennyMac Broker Direct has brought new strength to brokers, as well as emerging bankers in the non-delegated correspondent channel, to help their business thrive. Brokers who partner with PennyMac not only work with a dedicated and highly experienced Account Executive but also gain access to a highly specialized Broker Operations Manager (BOM), who serves as their single point of contact from start to finish. The BOM delivers a high level of communication, support and pipeline surveillance. “As much as we all need to scale and automate processes to keep costs in line, above all else, this is a people and relationship business,” said Kim Nichols, senior managing director, executive leader Wholesale Channel. “Our team really gets that; it’s part of our culture and it’s something that truly distinguishes us from the competition.” PennyMac provides several programs and services to help brokers grow their business. For example, PennyMac’s broker portal, POWER, has an easy-to-use pricing scenario tool backed by their sophisticated proprietary pricing engine. Brokers have the ability to lock loans until midnight Pacific time every day through the portal. Additionally, the company’s mortgage insurance best-ex solution, OptiMIze, automatically delivers the best MI pricing available leveraging PennyMac’s highly competitive negotiated MI rates. Perfect Rate and Perfect Term allows brokers to fine-tune pricing to the .001% and customize terms to the exact month for their customers on fixed-rate loans. Brokers

With over 25 years of wholesale lending experience, Chris Legg joined PennyMac in 2017 and is one of the original architects of the Broker Direct Channel.

December 2021/January 2022

also have the ability to net escrows on PennyMac-to-PennyMac refinances, which is a great way to reduce cash to close. “Brokers really love that we don’t sell our servicing. We make a permanent capital investment in MSRs and have a best-inclass servicing platform,” Nichols added. “We offer great customer service to support their borrowers beyond the closing table. Our broker partners can feel confident that their borrowers will have a smooth postclose experience and are in good hands.” PennyMac also provides a monthly “POWER Your Business” webinar series to educate brokers on the market landscape and help them stay on top of industry and market trends. “Since PennyMac doesn’t have a distributed retail channel, we see our broker partners as our reach into local communities with a specific focus on the purchase market,” said Jeff Keeland, executive vice president, Broker Direct Fulfillment. “Our pre-approval option is a very important tool for our brokers in this current hot purchase market. We also offer priority paths for purchase throughout the loan process. We are working to equip our partners with all the tools, programs and technology that they need to effectively compete with scaled distributed retail lenders in their markets.” As the fastest growing lender in the wholesale channel, PennyMac is uniquely positioned to serve as a business partner across the mortgage banking professional continuum. PennyMac can be a long-term partner for brokers and emerging bankers to support their business goals. “Our experienced, knowledgeable, expert leadership team is second to none. We have a successful track record of building scaled and sustainable businesses,” said Chris Legg, executive vice president, TPO Strategy and Innovation. “We want to share our expertise with our broker partners.”

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ome values have increased over the past several months and consumers are realizing there is more equity in their homes than anticipated. This realization has increased demand for wholesale lenders and brokers as borrowers look to refinance, cash-out refinance or otherwise take advantage of the equity in their homes. The right mortgage services provider is essential to helping wholesale lenders and their brokers thrive in this constantly evolving market. ServiceLink, which is backed by Fidelity National Financial, meets the unique needs of wholesale lenders by providing title insurance, appraisals, flood certificates and closing services. Regardless of the lenders’ size, ServiceLink’s exclusive EXOS technology, comprehensive industry experience and stability help lenders get to closing quickly while providing a better borrower experience. Its nationwide footprint paired with an expansive pool of vendors makes ServiceLink a reliable wholesale partner. “We provide title and closing services in all 50 states, and the broker works with the exact same client service team,” ServiceLink Client Relationship Executive Nicole Blosch said. “The broker knows they will get the same turn times and the same service levels regardless of the property’s location.” More than 50 years of title industry expertise gives ServiceLink unique insight into the needs of its wholesale clients. Its EXOS Title technology offers accelerated title decisioning and a defi nitive clear-to-close timeline in seconds. ServiceLink combines that cutting-edge technology with handson customer service, proactive reporting to help with pipeline management and a deep understanding of brokers’ processes and requirements. “Brokers hate surprises. At ServiceLink, we have a commitment to constant communication to make sure brokers are updated throughout the lifecycle of an order,”

said Brian Pidgeon, the vice president and national sales executive at ServiceLink. ServiceLink continues to combine technology and service into the closing process. Once a file is cleared to close, brokers and borrowers can schedule the closing appointments — virtual, in-person, or hybrid — with EXOS Close. With EXOS Close, brokers are connected with the exact, real-time availability of local signing agents and can instantly schedule a closing appointment for the date and time of their choice. ServiceLink’s expansive notary network means it has vendors ready and waiting to complete closings, even during high-volume periods. ServiceLink’s unique tech-enabled mortgage services include valuations as well. It has a valuations team solely dedicated to the wholesale market, whose dedicated hands-on approach ensures milestones and commitments are met. In addition to a website for ordering, including safe and secure credit card payment, real-time scheduling through EXOS Valuations drives efficiencies. With EXOS Valuations, brokers and borrowers schedule with the industry’s largest appraiser network. Clients are able to quickly schedule their appraisal inspection without phone tag or other scheduling delays. “The future of wholesale lending is a continued use of technology and innovation to help further streamline the lending process,” Pidgeon said. “ServiceLink is focused on developing more real-time transparency into the appraisal experience, as well as improvements in the appraisal inspection process by capturing more information including video, geocoding, digital sketches — all using mobile devices.” No matter what’s next for the industry, ServiceLink’s nationwide suite of mortgage services will continue to help lenders and their brokers efficiently manage their volume and provide a differentiated customer experience.

December 2021/January 2022

SERVICELINK svclnk.com

THE EXECUTIVES:

BRIAN PIDGEON, VICE PRESIDENT Brian Pidgeon has a 14-year career focused on valuations with ServiceLink and now serves as vice president and national sales executive.

NICOLE BLOSCH, CLIENT RELATIONSHIP EXECUTIVE Nicole Blosch backs her role as client relationship executive at ServiceLink with more than 20 years in both lending and title.

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ServiceLink offers brokers constant communication and transparency into valuations and closing

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SIERRA PACIFIC spmc.com

THE EXECUTIVES:

JIM COFFRINI, PRESIDENT AND CEO With over 30 years of experience, Jim Coff rini oversees all company operations with his clear vision and well-defined strategies.

JAY PROMISCO, CHIEF PRODUCTION OFFICER

n today’s booming housing market, more robust pre-approval that can compete mortgage brokers want to be able to with cash offers, and subsequently, shortclose loans faster and more efficient- en the processing and underwriting cycle ly. To do that, they need to partner with times by almost half. “With precise goals and a commitment experienced Account Executives and an operations team that is equipped to han- to the mortgage industry’s future, Sierra dle high volumes. Sierra Pacific Wholesale Pacific is focused on supporting its partunderstands what it takes for brokers to win ners with industry expertise, collaboration — and that’s working with the right partner. and an array of product offerings,” Chief “We’re problem solvers ready to dig in Production Officer Jay Promisco said. While Sierra Pacific’s team understands to overcome any obstacles to get their that technology deals done,” said Jim creates efficienCoffrini, president cies, they a lso and CEO. “We have a “With precise goals and a believe a human proven legacy of supcommitment to the mortgage approach is still porting brokers with industry’s future, Sierra Pacific critically importunparalleled service is focused on supporting its ant in this busithroughout the entire partners with industry experness because it process by strengthtise, collaboration and an array strengthens our ening the huma n of product offerings,” relationships. approach, while also - Chief Production Officer Jay “To us, being integrating technoloPromisco the best means gy. Our partners have being there every come to trust that we’re real people like them and our goals step of the way for our Broker partners and we have done that consistently over deare aligned.” Sierra Pacific Wholesale has been in busi- cades,” Coff rini said. “We are one of the very few lenders in ness for over 30 years, providing a broad perspective that detects challenges auto- operation today under the same name and mation can miss. The company offers the same ownership as we were when we first latest technology because they know it’s no entered wholesale,” he added. Sierra Pacific Wholesale wants to help longer a luxury, but a necessity for brokers the broker community continue to flourto have these resources. Sierra Pacific’s proprietary broker portal, ish by providing a collaborative lender ExpressLoan, features an array of custom- relationship. Because of this, the company is making ized tools that provide Sierra Pacific’s ThirdParty Originator (TPO) partners a more in- significant investments in its technology, tuitive and modern technology experience processes, team and company infrastructhat supports the client experience provid- ture to support that growth. Sierra Pacific’s team believes their most ed by Sierra Pacific Wholesale. The company’s Fast Track process allows important job is to make brokers shine, brokers to instantly validate the borrower’s which is why they offer loan products that employment, income and assets prior to allow brokers to work with a broad range of submitting the loan. This gives brokers a clients and close loans quickly.

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Jay Promisco is creating and implementing strategies for growing Sierra Pacific’s market share for the retail, consumer direct and wholesale channels.

Sierra Pacific’s Fast Track process gives brokers a more robust pre-approval, shortening cycle times

December 2021/January 2022

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United Wholesale Mortgage’s Blink+ tool includes an LOS, POS and CRM all in one package nology and deploy faster rather than rely on other vendors and continues to level the playing field for mortgage brokers.” Brokers who work with UWM are supported by a team of nearly 9,000 people they can count on to help every step of the way. The company also offers both onsite and virtual Success Track training for loan officers, processors and broker owners. Whether a person is new to the mortgage industry, transitioning to wholesale lending or looking for a resource to get their new hires up to speed, Success Track provides training options for every level. UWM provides marketing support to brokers through its customizable client management tool, Brand 360, which offers borrower outreach, alerts and monitoring post-closing as well as fully customizable marketing materials — all at no cost. Brand 360’s Client Connect tool helps brokers stay in touch with previous clients and cultivate new relationships with potential clients by developing and automating borrower communications using simple, easy technology. UWM’s technology and resources are driven by the needs of the broker community and are aimed at making the lending process faster, easier and cheaper for borrowers. “We support our partners with all the tools, technology and advocacy they need to be successful, grow their business and close loans quickly and efficiently so they are set up to win future business,” President and CEO Mat Ishbia said. “By not competing with, but advocating for mortgage brokers, UWM is able to stay laser focused on developing the next big thing as we continue to catapult broker channel growth together.”

THE EXECUTIVES:

MAT ISHBIA, PRESIDENT AND CEO Mat Ishbia is the president and CEO of United Wholesale Mortgage and has propelled UWM into being the No. 1 wholesale mortgage lender in the nation for six years running.

MELINDA WILNER, CHIEF OPERATING OFFICER Melinda Wilner oversees all of UWM’s operations, underwriting and IT teams, where she sets a standard of excellence by focusing on efficiency, accessibility and service.

JASON BRESSLER, CHIEF TECHNOLOGY OFFICER Jason Bressler is an industry veteran who excels in building tools and technology to meet the needs of UWM’s clients while also leading a team of over 1000 IT members focused on delivering unmatched client service. 61 ❱ HOUSINGWIRE

he wholesale channel will continue to grow as more retail originators and borrowers learn the benefits of working with a mortgage broker. United Wholesale Mortgage (UWM) is solely focused on growing the wholesale channel and helping independent brokers thrive. “At UWM we focus on our client service, operational efficiency and speed to close loans. With this unwavering focus, we help brokers close loans fast, get referrals and grow their business,” Chief Operating Officer Melinda Wilner said. UWM subscribes to a “build vs. buy” mentality that incorporates the scale at which they’ve grown. By writing and maintaining all of the code along with investing heavily in putting together a world class modern IT infrastructure that efficiently leverages a mix of modern technologies like the public cloud and API based software architectures, UWM has been able to turn on a dime and stay well ahead of shifts in the market utilizing technology. UWM recently transformed its original LOS Blink into Blink+, an all-in-one package that includes an LOS, POS and CRM. Blink+ is a white-label, borrower-facing digital application tool. The no-cost solution allows brokers to submit applications, price out loans, eSign documents and helps make the experience smoother for borrowers and real estate agents. “UWM has significantly invested in our technology team and tech stack, offering career-focused training and development which has contributed to growing this function to over 1,100 team members,” Chief Technology Officer Jason Bressler said. “This allows UWM to build our own tech-

UNITED WHOLESALE MORTGAGE uwm.com

December 2021/January 2022

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December 2021/January 2022

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eClosing Special Reports The COVID-19 pandemic forced the mortgage industry to digitize transactions that were once completely done in-person. And while technology has streamlined the industry, many housing professionals are still hesitant to exist in a digital landscape. This is partly due to the complexity of the mortgage process, especially at closing. For everything to run smoothly, there needs to be effective coordination between everyone involved, which can be challenging. The seven companies featured in this section offer platforms that enable lenders to connect with all parties involved in the mortgage transaction process, 100% online, to ensure loans stay in compliance and transparency is maintained between all stakeholders.

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Black Knight................................................................64 DocMagic.....................................................................65 First American Docutech..........................................66 ICE Mortgage Technology....................................................67 Notarize........................................................................68 SimpleNexus..............................................................69 Snapdocs....................................................................70

December 2021/January 2022

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BLACK KNIGHT BlackKnightInc.com

THE EXECUTIVES:

ANTHONY JABBOUR CEO Anthony Jabbour leads the company’s overall vision and direction for Black Knight to provide premier solutions and services for many of the nation’s largest lenders and servicers.

JOE NACKASHI PRESIDENT, BLACK KNIGHT Joe Nackashi provides an overall strategic direction to Black Knight’s operating groups to maintain a laser focus on clients and deliver the solutions that help them achieve greater success.

RICH GAGLIANO PRESIDENT, ORIGINATION TECHNOLOGIES

Black Knight’s Expedite Close eClosing solution uses automation to select the best way to close each loan

ore than ever, borrowers want and expect to close their loans digitally, from the initial loan application through the final review and approval of their loan package. But while eClosings are convenient, it can be challenging to offer the same level of customer service online as with in-person closings. Additionally, with more options available for closings — wet-sign, hybrid, fully digital — lenders can struggle to determine which approach works best for each loan. Black Knight is committed to helping all stakeholders involved in a real estate transaction move closer to a secure, paperless closing environment, while shortening the closing timeline to effectively reduce closing costs. Black Knight’s Expedite Close, an innovative, end-to-end eClosing solution, leverages automation and intelligent analytics to systematically select the best way to close each loan, offering lenders a simplified closing process with lower closing costs, as well as the ability to offer an improved borrower experience. Expedite Close accounts for each participant’s role during the closing stages, including the Realtor and settlement agent, and enables lenders to work at their own pace in a flexible and scalable setting. Client-defined rules, built-in logic and transaction data are used to identify factors such as jurisdiction requirements, consumer preferences, settlement-agent processes and investor requirements, to determine if the closing should be fully digital, paper or a hybrid of both. “Expedite Close offers a truly end-toend digital close experience that easily

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Rich Gagliano is responsible for the overall strategy and product direction of Black Knight’s origination technologies.

December 2021/January 2022

connects all participants in a real estate transaction and allows them to securely collaborate online, regardless of the processes, document providers or systems that lenders currently have in place,” said Rich Gagliano, president of Black Knight Origination Technologies. Once an eClosing process is initiated in Expedite Close, borrowers are provided a clear overview of the documents they need to review and sign, as well as individual tags to help them make informed decisions. As borrowers review and sign the closing documents, they are given lender-specific, detailed information on a document-by-document, line-by-line basis — insight typically given at the closing table. At the end of the digital closing package, any documents that require notarization can be handled with Black Knight’s integrated Remote Online Notarization (RON) solution. This solution connects signers with online notaries over a secure video call, following applicable national and state guidelines. The platform also verifies the content, creator and creation date of any digital document to help eliminate the risk of forgery, fraud or theft. “The technology is easy to learn, cost-effective, and is fast to implement,” Gagliano said. “Lenders can quickly leverage a secure, online system to support their existing workflows and processes, with easy document upload capabilities, so all participants can seamlessly interact with each other remotely. With Expedite Close, a better way to close is here.”

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he mortgage industry is looking to drive results in a new digital environment where organizations must respond to change at an accelerated pace. DocMagic provides lenders a competitive advantage with digital technology that offers more flexibility, improves efficiency and provides a better user experience than paper-based methods. DocMagic’s Total eClose solution is a comprehensive, end-to-end eClosing system that provides everything necessary for a paperless eClosing. The seamless digital workflow includes all hybrid eClosing options and is comprised of DocMagic’s comprehensive suite of eMortgage solutions, including SMART Doc eNote generation, remote online notary (RON) capability, certified eVault technology, and culminating with Investor eDelivery. With DocMagic’s new remote online notary technology, eligible borrowers can electronically review, sign and notarize documents within an intuitive, end-to-end eClosing workflow. Total eClose features both Settlement Agent and Notary eClose consoles, providing users with all of the functionality required for a successful eClosing. The console allows settlement agents and their notaries to browse a complete document package and easily upload any additional documents that may be necessary. DocMagic’s AutoPrep system further simplifies the process by instantly identifying signatures, initials and notary regions, and automatically applying the essential e-tag information required by most eClosing platforms. The eClose Console is a powerful control center for monitoring and facilitating an efficient and successful eClosing ceremony. It contains all of the information settlement agents and their notaries need to manage signers and other participants. The system makes it easy to select and confirm a RON-certified eNotary from a na-

tional network of over 25,000 approved, fully vetted and RON-certified notaries. The eClose console also provides the notary with the instrumentation needed to execute a smooth and efficient eClosing ceremony. This includes all pertinent loan transaction information, contact information for all participants, a real-time countdown to the eClose ceremony and more. Notaries can easily review the complete document package and print any borrower documents that must be signed with a pen. The system also provides important identity verification utilities such as Knowledge-Based Authentication and Identity Validation that leverage the signer’s smart device for secure, effective authentication. The console automatically records the RON signing session and creates all required entries within the notary’s electronic journal. All of this information is automatically stored within a secure action log. “By providing the key participants with a secure online eClose portal, we’re ensuring transparency and complete control throughout the eClosing process,” President and CEO Dominic Iannitti said. “In practice, these new levels of participation mean fewer errors and a better loan process from end to end.” DocMagic’s hands-on approach to implementation, from developing the project roadmap to synchronized testing of each facet of the eClosing process, ensures each client’s success. “We partner with our clients to put the essential pillars in place, paving the way to more flexible and scalable operations with paper-free eClosings at the heart of their workflow,” Iannitti said. An eClosing has many moving parts. As a single-source solution, DocMagic has eliminated the issues that plague other providers — not just after implementation, but over the long term as lenders embrace electronic closings.

December 2021/January 2022

DOCMAGIC docmagic.com/total-eclose

THE EXECUTIVE:

DOMINIC IANNITTI PRESIDENT & CEO Dominic Iannitti founded DocMagic more than 30 years ago with a commitment to provide the mortgage industry with superior technology solutions and services to reduce and eventually eliminate the use of paper.

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DocMagic’s Total eClose solution features consoles for both settlement agents and notaries

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FIRST AMERICAN DOCUTECH docutech.com/solutions/solex/

THE EXECUTIVE:

AMY BRANDT PRESIDENT OF FIRST AMERICAN DOCUTECH

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Amy Brandt is president of First American Docutech, a part of the First American family of companies, providing leadership and vision to deliver end-to-end integrated digital mortgage solutions that enable lenders to accelerate the real estate closing process.

Solex eClosing from First American Docutech provides lenders with eSigning efficiencies and eVault integration

s lenders strive to reduce costs, close loans faster and deliver a safe, seamless and convenient borrower experience, leveraging a comprehensive eClosing platform is a top priority. Solex eClosing from First American Docutech is designed to accelerate the closing process through a streamlined, end-to-end, modern digital experience, inclusive of lenders, settlement agents, notaries and borrowers. “The combination of First American and Docutech is driving the digital transformation of the real estate closing process forward through collateral file management from the inception of the mortgage process through post-closing,” said Amy Brandt, president of First American Docutech. The Solex eClosing platform is approved by Freddie Mac and Fannie Mae for eClosing, eNote and eVault functionality. Solex provides lenders with efficiencies from point of sale through post-closing, and includes intelligent eEligibility, native SMARTDoc eNote, electronic notarization including Remote Online Notarization (RON), and its proprietary eVault with a direct integration to the MERS eRegistry. Through First American Docutech, lenders gain the benefit of an intelligent eEligibility engine that analyzes each closing package and helps determine the most appropriate eClosing path. Lenders can also provide title and settlement with secure access to review and add title documents to the closing package. The process is also convenient for the borrower as they can review their documents in advance from any device and can eSign relevant documents, thereby shortening the actual closing ceremony. On the day of closing, Solex provides options for in-person eNotarization, RON and eRecording. For lenders utilizing First American Docutech’s dynamic document generation engine, ConformX, integrated with lead-

December 2021/January 2022

ing loan origination systems and borrower portal solutions, every relevant field is imported, defaulted or automatically populated through rules-based intelligence. All disclosures and closing documents are generated with eSignatures and interaction points tagged natively, eliminating manual labor and missed signature and interaction points. In addition, settlement agents can easily upload relevant documents to the closing process for an automated and accelerated eClosing experience. Soon, lenders on any document generation system will be able to utilize Solex eClosing for hybrid closings and later for a full RON eNote eClosing. After the eClosing is completed, the eNote is registered on the MERS eRegistry through the Solex eVault, where all of the life of loan events can be managed. Once registered with MERS, lenders can manage secured parties or interim investors, transfer control to a final investor, update the servicer and location fields when needed, and later flag an eNote as being paid off, assumed, modified or other life-of-loan events. “As part of the First American family of companies, our combined expertise in title, settlement and document services technology delivers a complete suite of digital mortgage solutions to make it easy for lenders and settlement providers to close loans faster,” continued Brandt. “We are focused on accelerating the closing process for all involved through the creation, delivery, execution and perfection of the documents, from application through post-closing.” First American Docutech provides lenders with a complete and integrated digital mortgage solution that streamlines the complex closing process. Solex eClosing continues to lead the industry and has now helped lenders digitally close more than 500,000 mortgages.

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ortgage lenders are looking for ways to accelerate the digital mortgage process and deliver a one-of-a-kind experience for borrowers. ICE Mortgage Technology’s Encompass eClose allows lenders to electronically order documents, collaborate with settlement agents and partners, eSign documents with borrowers, electronically record and will soon deliver electronic notes and vault to eRegister with MERS. Historically, providing a true eClose experience workflow has been a complex process. Lenders often need to work with multiple vendors and technology platforms to achieve an end-to-end digital closing experience. With components ranging from ordering electronic documents, eSigning capability, settlement agent collaboration, eNotarization and eRecording, implementation can be complicated and costly. Not to mention, it often leads to a fragmented experience for borrowers and steep learning curves for lenders and settlement agents. With Encompass eClose, users can eliminate the pain and added cost associated with managing multiple vendors and streamline the closing process all from within the industry’s most recognized LOS, Encompass. “By leveraging the largest connected network in the industry with Encompass, Simplifile and MERS, our eClose solution accelerates digitization and improves profit margins through efficient utilization of the workforce and workflow,” said Joe Tyrrell, president of ICE Mortgage Technology. “This enables lenders to attract more borrowers by providing a better loan experience.” Encompass eClose provides: • One partner: By working with one provider, lenders only need to handle one contract, one security review, one implementation and one invoice. • One workflow: All steps of the eClose process can be completed without leaving Encompass and the workflow remains consistent with both

hybrid and full eClose loans. In addition, even fully ink packages follow the same workflow in Encompass, streamlining implementation and adoption by users and creating a digital post close process, improving ROI even on paper loans. • One data source: ICE Mortgage Technology brings data together into one tightly integrated solution, creating operational efficiencies and improving quality control. • O ne ne t wor k : IC E Mor t ga ge Technology offers one of the largest ecosystems of lenders, settlement agents, partners, service providers and mortgage investors all in one place. For lenders, Encompass eClose helps lower operational costs by streamlining and digitizing traditionally manual, paper-driven workflows to close loans more efficiently. Borrowers get a better mortgage experience since they can use a single portal from their application to close. Settlement agents experience greater ease of use through real-time transparency and view into the loan closing process, an audit trail, and necessary security and access through one platform across multiple eClose steps. “This fall, ICE Mortgage Technology plans on launching eNotes, an eVault that fully integrates into the MERS eRegistry and more to enhance the eClose experience further and get closer to providing a true digital mortgage experience,” said Nancy Alley, VP, Product Strategy of ICE Mortgage Technology. “True to our goal to simplify adoption, users will be able to manage their eNotes all from within Encompass and not be required to learn a new eVault interface.” By bringing together the expertise and innovation of Encompass, Simplifile and MERS into the ICE Mortgage Technology Platform, lenders and their customers and partners can leverage one streamlined workflow for eClose that lowers operational costs, boosts profitability and delivers a superior experience for borrowers.

December 2021/January 2022

ICE MORTGAGE TECHNOLOGY icemortgagetechnology.com/ eclosing

THE EXECUTIVES:

JOE TYRRELL PRESIDENT OF ICE MORTGAGE TECHNOLOGY Joe Tyrrell is head of ICE Mortgage Technology, the leading cloud-based loan origination platform provider for the mortgage industry and part of Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure.

NANCY ALLEY VP OF PRODUCT STRATEGY OF ICE MORTGAGE TECHNOLOGY Bringing 30 years of financial services and mortgage industry experience to her role, Nancy Alley is the strategic leader for ICE Mortgage Technology’s eClose solutions.

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With Encompass eClose from ICE Mortgage Technology, all eClosing steps can be completed within one workflow

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NOTARIZE www.notarize.com

THE EXECUTIVES:

PAT KINSEL CO-FOUNDER AND CEO Pat Kinsel leads Notarize, the first company making it possible to legally notarize documents online and on demand, allowing anyone to buy, sell or finance their home online.

TERRI DAVIS GENERAL MANAGER, REAL ESTATE

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Terri Davis leads Notarize’s efforts to empower the success of partners as the company digitizes processes and modernizes real estate.

Notarize offers its users digital identity proofing and authentication services for eClosings

echnology has streamlined the real estate industry, but it has also left the industry confused on how to bring the myriad of regulations, documents and requirements together into a cohesive, simple and secure experience that benefits all parties involved. The pioneer of remote online notarization (RON), Notarize is the first platform to enable individuals to sign and notarize documents online, 24/7. By integrating technology with live human interaction to establish identities, Notarize is able to digitally mirror the in-person notary experience and offer added digital identity proofi ng and authentication services. “When buying, selling or refinancing a home, Notarize’s products and services bring trust to life and businesses’ most important moments and make them more convenient, secure and verifiable,” CEO Pat Kinsel said. “As a product and policy-led company, our goal is to build trust in a digital age through a protected online transaction. Once consumers, title agencies and lenders utilize RON and realize how compliant, secure, and streamlined the experience is, they never go back.” RON is a fully-digital experience that mirrors the traditional notarial act and provides the same legal protections, but with enhanced security and fraud prevention. A signer verifies their identity and appears before a notary on a video call, and together they complete, sign and legally notarize the document. Each video session is recorded and retained along with an audit trail of the transaction. Notaries use this technology to remotely obtain evidence of identity and communicate in real-time with signers. Signers can only connect to a commissioned notary once they’ve completed security measures, including personal identity challenge questions and credential analysis of their government-issued ID. All documents notarized on the platform are digitally signed by the notary using a special x.509 digital certificate issued to the notary (after a rigorous identity securi-

December 2021/January 2022

ty process). Once a notary’s digital certificate is applied to a document, it creates what’s called a digital “hash” which functions as a hidden record of all the bits and bytes comprising the document. If any component of the document is later changed, the document will show that it has been changed after the digital signature was applied. This enables all users to confi rm that they are looking at the original document as originally signed and notarized, and all digital originals are available immediately, reducing the need to print or ship stacks of documents. “We’ve built proprietary technology that gives users — notaries and signers — access to this secure digital signing table where they’re getting the ease of what a digital-first service can provide, but with unrivaled safety and fraud prevention,” Kinsel said. “Our application development team has extensive experience building bank-grade, highly secure software systems and the data is transmitted and stored using industry-best data security practices. “We’ve also built software to comply with more than 14 million compliance and acceptance rules across the country to meet any of our customers’ requirements,” he added. There’s a shift happening in today’s society toward online services, but this convenience and efficiency shouldn’t come at the expense of anonymity and reduced trust. Notarize exists to solve this problem in real estate by creating trust and legal certainty, delivered efficiently at the speed of the internet. “Notarize’s business has skyrocketed more than 600% since March 2020, and the company has seen rapid adoption of the platform, especially within the real estate ecosystem,” said Terri Davis, General Manager, Real Estate. “We work with thousands of organizations in the real estate industry who want to go fully digital while upholding the highest levels of security and identity verification available. The time for RON is now.”

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s homebuyers complete more of the origination process digitally, from asset verification to disclosures, they expect a similarly modern closing ceremony. Nexus Closing from SimpleNexus enables lenders to deliver mortgages that are digital from application to closing. “ With Nexus Closing a nd the SimpleNexus platform, lenders can provide borrowers with a fully digital, single sign-on home buying experience for a memorably modern experience that increases repeat and referral business,” CEO Cathleen Schreiner Gates said. Nexus Closing features single sign-on convenience for borrowers, full LOS integration to preserve lender workflows, enhanced title collaboration tools and support for traditional, hybrid and fully digital closings. With one set of account credentials, customers can securely navigate the entire mortgage process, including the closing stage. Borrowers are also allowed early access to 80% of their final documents before the day of closing, reducing the time at final closing. Nexus Closing offers a single-platform eClose solution with the flexibility to integrate into a lender’s existing workflow to streamline mortgage operations and deliver modern convenience to borrowers. The platform includes Hybrid eClose, which allows lenders to send hybrid closing packages for the borrower to sign electronically. The security instruments, or any documents that require a notary, will still be signed in person by the settlement agent and the borrower. Nexus Closing also features integrated remote online notarization (RON), so lenders can deliver fully digital closings by allowing notary required documents to be signed online using a video calling ceremony between a borrower and notary. In addition, the RON scheduling feature opens up the availability of times where all

parties can meet to finalize any remaining paperwork as quickly as possible. The eMor tgage integrations within Nexus Closing include the generation of the eNote document, tamper sealing of the eNote during the closing, validation of the tamper seal and delivery of the eNote into the eVault for registration to MERS eRegistry. “Nexus Closing gives lenders the flexibility to make the closing experience as digital as they want. In addition to improving the consumer experience, Nexus Closing offers lenders substantial ROI with improved operational efficiency, increased data integrity and faster delivery of loans to the secondary market,” said Andria Lightfoot, VP, Professional Services. A core feature of Nexus Closing is the deep LOS integration that preserves existing workflows and delivers new efficiencies of digitizing the closing process. The platform can move closing documents bi-directionally between the LOS and title company, enabling lenders to reduce redundancies and process closing paperwork more quickly. “For businesses and borrowers alike, time is money,” added Jay Arneja, senior product manager.“By eliminating hours spent driving to closings, mobile notary agents can schedule more closings per day. And best of all, Nexus Closing cuts time spent printing, scanning, faxing and mailing documents back and forth while also saving on expenses related to paper, ink, shipping and physical document storage.” SimpleNexus is a mobile-native homeownership platform where borrowers can apply for a loan, sign disclosures, submit documentation, communicate with their lender and close on their loan, all with the same login from their device. SimpleNexus has brought the intuitive purchase experience consumers have come to expect from their commerce apps to lending.

December 2021/January 2022

SIMPLENEXUS simplenexus.com/eclosing/

THE EXECUTIVES:

CATHLEEN SCHREINER GATES CEO For 35 years, Cathleen Schreiner Gates has accelerated growth at early stage and global software-as-a-service (SaaS) organizations.

ANDRIA LIGHTFOOT VP, PROFESSIONAL SERVICES Andria Lightfoot is a renowned mortgage technologist with experience leading mortgage operations, providing strategy for enterprise software solutions and implementing innovative change management solutions.

JAY ARNEJA SENIOR PRODUCT MANAGER Having held positions at MERS and worked closely with Fannie and Freddie, Jay Arneja has more than 25 years of experience in wholesale /correspondent lending as well as expertise in building process/product and technology solutions for primary and secondary market mortgage operations.

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With Nexus Closing from SimpleNexus, lenders can make the closing experience as digital as they want

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SNAPDOCS snapdocs.com

THE EXECUTIVES:

AARON KING CEO Aaron King has worked in the mortgage industry since high school. Aaron founded Snapdocs in 2013 with the mission to perfect the mortgage closing process.

CAMELIA MARTIN HEAD OF INDUSTRY & REGULATORY AFFAIRS Camelia Martin brings over 16 years of experience in mortgage finance technology to her role at Snapdocs, where she collaborates with a broad spectrum of industry participants to advance the adoption of digital mortgage closings.

BRIANA INGS

Snapdocs gives lenders a proven path to adopting digital closings, powering millions of closings a year

he technology components required to digitize closings — things like eSignatures and webcams — have existed for decades. But until recently, digital closings had never been adopted at scale. The limiting factor was not technology, but the fact that the closing process requires coordinated participation from many members of a fragmented ecosystem, each with their own chosen technologies and workflows. Snapdocs has emerged as the digital infrastructure that connects the mortgage closing ecosystem in order to orchestrate perfect digital closings at scale. It enables lenders to connect with all parties and technologies involved in a mortgage transaction to complete the entire closing process online. The platform allows all participants in a mortgage closing to work together to close deals faster, more effi ciently and with dramatically fewer errors. 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 operates to improve 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. Technology alone does not enable closings at scale. For the foreseeable future, lenders are certain to have a mix of closing types to manage, be they wet-signed, fully digital or a hybrid of the two. Snapdocs be-

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VP, PRODUCT Briana Ings leads Snapdocs’ development team in helping lenders transform the closing process. Briana’s teams prioritize providing pragmatic solutions to lenders through modern and intuitive workflow design, powerful AI capabilities and seamless integrations to core systems.

December 2021/January 2022

lieves that a single process for all closing types is the key to unlocking scale and ROI. Snapdocs provides lenders with a pragmatic, proven path to adopting digital closings — an approach that also offers borrowers a modern, digital closing experience every single time. Snapdocs now powers millions of closings a year for lenders, title companies and notaries, touching nearly 20% of all US real estate transactions every month, representing over $60 billion in mortgage value. “Snapdocs is in the background of the closing processes of the most successful lenders, providing the necessary infrastructure for digital closings to work at scale,” Snapdocs CEO Aaron King said. Waterstone Mortgage is just one example of the power of the Snapdocs platform in action. Waterstone is one of the nation’s largest mortgage lenders with 650 employees lending in 48 states. In early 2020, Waterstone used Snapdocs to spearhead a strategic initiative to move all closings to fully digital experiences. In just three months, the company was able to go from zero digital closings to closing 70% of its loans as hybrid closings. “We’re already seeing Snapdocs and our ‘hybrid-as-default’ offering become a competitive advantage,” said Tom Knapp, CIO of Waterstone Mortgage. “It’s still a nice surprise for some once they’ve chosen Waterstone Mortgage as their partner, but borrowers now seek us out because of it.” In 2020, Waterstone closed 40% more mortgages than it had the previous year, with the same number of closers. On average, the company’s hybrid eClosings were 60% faster than wet closings, with an 80% reduction in errors.

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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.

December 2021/January 2022

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B lack K night . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .74 C o r e L o g i c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .75 D o c M a g i c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 6 FIC S . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .77 First American Data & Analytics........78 Global

DMS.....................79

homegenius..................................80 HPA , a Cognizant company...............81 Nomis Solutions......................................82 Nationwide

Title

Clearing............83

R e f i n i t i v. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 4 Reggora......................................85 Sagent......................................86 Sof tWorks AI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 88 Stav v y. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 89 WFG......................................90 December 2021/January 2022

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Snapdoc s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 87

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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

December 2021/January 2022

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.

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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

December 2021/January 2022

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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

December 2021/January 2022

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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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.

December 2021/January 2022

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

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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

December 2021/January 2022

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.

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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/

December 2021/January 2022

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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

December 2021/January 2022

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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

December 2021/January 2022

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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

December 2021/January 2022

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.

December 2021/January 2022

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

December 2021/January 2022

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

December 2021/January 2022

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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

December 2021/January 2022

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.

December 2021/January 2022

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

December 2021/January 2022

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.

December 2021/January 2022

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

December 2021/January 2022

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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December 2021/January 2022

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Origination Platforms & Solutions Special Reports

t’s no secret the origination process is complex. And in today’s chaotic market, mortgage companies could benefit from solutions that streamline the mortgage process

so they can close more loans. Lenders need digital platforms that provide straight-through processing to improve their dayto-day workflow and maximize operational efficiencies. With platforms that leverage data and automate time-consuming tasks, mortgage companies can reduce costs and increase their revenue. The eight companies featured in this section offer innovative solutions and platforms that allow lenders to maximize

Mortgage Cadence.................................................................................94 Black Knight...................................................................................................................95 CoreLogic.......................................................................................................................96 ICE....................................................................................................................................97 Origence.........................................................................................................................98 SimpleNexus..................................................................................................................99 Stavvy ..............................................................................................................................100 Tavant..............................................................................................................................101

December 2021/January 2022

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efficiencies across the origination process.

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MORTGAGE CADENCE www.mortgagecadence.com/

THE EXECUTIVE:

PETE ESPINOSA, CHIEF EXECUTIVE OFFICER OF MORTGAGE CADENCE

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Pete Espinosa serves as Chief Executive Off icer of Mortgage Cadence. A career-long software and technology executive, each company he works with achieves unique, special results that benefit customers and employees alike.

The Mortgage Cadence Platform is a comprehensive, out-of-the-box solution for lenders

ortgage Cadence has recently launched its new platform, offering the industry’s most complete, modern LOS that delivers cloud-based, automated loan origination capabilities designed to enable an exceptional user experience throughout the entire mortgage lending life cycle, across all channels and products. The new end-to-end Mortgage Cadence Platform (MCP) is both complete and configurable, offering an open-architecture designed to meet the needs of a wide range of lenders’ businesses. With a leading POS through closing collaboration tools, the comprehensive platform has a modern, intuitive design and delivers exceptional user experiences. Due to the platform’s open architecture, users have access to a robust set of APIs, as well as admin, workflow and UI design tools that allow them to extend and customize their technology strategy to meet the unique needs of their business. The platform’s point-of-sale and loan origination system are both written in HTML5 for responsive design across devices to meet the user regardless of where they are. “Our approach is unique among mortgage technology companies, in that we are focused on building and investing in delivering the best LOS and thoughtful integrations, not dictating the broader ecosystem and ancillary services they need to use. Our open platform makes it easy for our clients to define their strategy,” said Pete Espinosa, CEO, Mortgage Cadence. Mortgage Cadence provides LOS platform solutions to independent mortgage banks, credit unions and commercial banks in the U.S. MCP is both complete and configurable, providing a solution for a wide range of lenders across all products and channels. The platform offers one database, mitigating risk and exposure and assisting with compliance by providing a single system

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of record. “We focus on helping our clients become high-performance lenders through the ideal combination of innovative leading technology, boutique-level support and experience, and an optimal mortgage process that meets the needs of our lenders and their borrowers,” Espinosa said. Within the platfor m is Mor tgage Cadence’s Automated Configuration Efficiency (ACE) engine, which allows lenders to define workflow automation. In addition, lenders can leverage automation within the POS to send vendor requests or opt to order services later in the origination process within the LOS. This solution supports all products and channels and is fully hosted in the Microsoft Azure public cloud, so bandwidth and server size can be adjusted to scale with an organization’s growth aspirations. There is a great deal of flexibility within MCP. Security is built into the platform to accommodate appropriate loan visibility by user base, and clients can add new channels or users when new employees or branches are added. As feedback is gathered from the borrower or employee experience, data entry fields and modules can be removed or added into custom workflow collections. “We understand mortgage technology and mortgage lending, including the best practices that produce high-quality, compliant mortgage loans of all types. Our breadth and depth of experience on both sides of the equation give Mortgage Cadence a significant leg up,” Espinosa said. MCP was designed with role-based experience top of mind and allows for multi-user concurrency in a loan file for maximum efficiency. The platform is delivered as a comprehensive out-of-the-box solution as well as a highly configurable platform that can accommodate a diverse client base.

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he origination process can be costly and time-consuming. Lenders need advanced capabilities, such as automation, decisioning and workflow capabilities to improve performance and streamline the origination process. Black Knight’s Empower loan origination system (LOS) offers an end-to-end, digital ecosystem that supports retail, consumer-direct, home equity, correspondent, wholesale and assumption lending channels all from one platform. This all-in-one system includes advanced capabilities like configurable workflows, intelligent automation, exception-based processing, compliance validation testing, configurable web APIs and much more to help lenders benefit from a faster, more efficient origination process. Intelligent Workflow Automation – Empower offers data-driven, workflow automation across the origination life cycle, from point-of-sale through fulfillment and post-closing. Lights-out Processing – Preconfigured by the lender, Empower can perform numerous tasks without the need for human intervention, creating significant processing efficiencies to help reduce the overall cost per loan. E xc e pt i o n-b a s e d Wo r k f lows – Empower automatically evaluates loan data and alerts staff when a loan review is needed, which helps to significantly decrease manual reviews and accelerate turn times. Artificial Intelligence (AI) – Empower leverages artificial intelligence to further automate “stare-and-compare” tasks more quickly and efficiently than traditional manual methods, helping lenders accelerate processes, decrease errors and reduce costs. Compliance Support – Black Knight continually enhances Empower to help lenders address their compliance requirements. In addition, Empower includes lender-configurable loan-level state and federal compliance testing embedded directly in the LOS workflow.

API-enabled Integrations – Lenders using Empower can leverage web APIs to interact with third-party systems for a variety of origination services, including verification services, document provides, reporting, and fulfillment and closing-related functions. One Platform for First Mortgages and Home Equity Products – Empower supports first mortgages and home equity products, decreasing the costs and complexities associated with maintaining separate systems. In addition to the powerful automation, Empower offers digital point-of-sale capabilities, a robust pricing engine, integrated fee services, actionable analytics, digital close technology including Remote Online Notarization (RON), and much more in one comprehensive solution. Empower helps reduce costs associated with the upkeep of multiple technology providers, improves data consistency with a seamlessly integrated system that communicates with the LOS, and streamlines workflow so lenders can originate more loans and improve ROI. This origination ecosystem can be continued through the loan life cycle with integrations between the Empower LOS and other Black Knight solutions, including the industry-leading MSP servicing system. For those who use Black Knight’s MSP platform, Empower offers a standard data conversion file so loans can be easily boarded into servicing. Black Knight is dedicated to improving the process and providing a fully digital mortgage experience. Task-and exception-based workflows, as well as intelligent, end-to-end automation, stretch across the entire loan life cycle to reduce manual review and errors, decrease cycle times and enhance the user experience. The Empower LOS gives lenders the tools to save time and operational costs, as well as mitigate risk – delivering a better experience to borrowers and those working behind the scenes to process loans.

December 2021/January 2022

BLACK KNIGHT www.blackknightinc.com/

THE EXECUTIVES:

ANTHONY JABBOUR, CHAIRMAN AND CEO Anthony Jabbour leads the company’s overall vision and direction to provide Black Knight’s premier solutions and services for many of the nation’s largest lenders and servicers.

JOE NACKASHI, PRESIDENT, BLACK KNIGHT Joe Nackashi provides overall strategic direction for Black Knight’s operating groups to maintain a laser focus on clients and deliver the solutions that help them achieve greater success.

RICH GAGLIANO, PRESIDENT, ORIGINATION TECHNOLOGIES Rich Gagliano is responsible for the overall strategy and product direction of Black Knight Origination Technologies.

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Black Knight’s Empower LOS supports retail, wholesale, consumer-direct and more all from one platform

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CORELOGIC www.corelogic.com

THE EXECUTIVE:

MICHAEL MITCHELL, EXECUTIVE, DISTRIBUTION PARTNERSHIPS, CORELOGIC

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As Distribution Partnerships leader for CoreLogic, Mike Mitchell and his team are responsible for all 3rd party channel partner relationships across the CoreLogic enterprise.

CoreLogic partners with ICE Mortgage Technology to make the digital mortgage experience more accessible

he origination process is primed for simplification. Too many lenders are still forced to spend countless hours manually entering data into their loan files. This is not only time-consuming, it also increases the likelihood of error, which further delays the origination process. To streamline communication between all parties, CoreLogic has partnered with ICE Mortgage Technology — part of Intercontinental Exchange — a leading global provider of data, technology, and market infrastructure. This renewed partnership is a significant milestone in expanding the availability of the digital mortgage experience and delivery of a true digital mortgage workflow for lenders and borrowers. The combination of CoreLogic data with ICE Mortgage Technology’s state-of-theart platform means that mortgage professionals will be able to work smarter, with end-to-end underwriting tools to get more done, with fewer errors. By expanding its broad portfolio of CoreLogic solution integrations on the ICE Mor tgage Technology Platform, Encompass users will soon have the ability to automate ordering of critical settlement services, including appraisals, credit reports, fraud reports, flood certifications and the many other services CoreLogic delivers through Encompass, creating an efficient and consistent, end-to-end digital mortgage solution. CoreLogic platforms are already implementing new automation and expanding data delivery. Valuation, title and closing workflows are a critical focus for driving loan process efficiency and compliance through CoreLogic platforms in the Encompass workflow. Earlier this summer, CoreLogic kicked off projects to modernize all of its critical integrated solutions on the ICE Mortgage Technology Platform via Encompass Partner Connect to update critical data-driven processes and make these solutions available to thousands of mutual clients on the platform. With Encompass Par tner Connect,

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a cloud-native third party-services integration platform from ICE Mortgage Technology, users will have the ability to automate the ordering of CoreLogic services natively through the workflow automation within Encompass. For instance, lenders can benefit from new features such as automated service ordering and optimized user experience. They’ll have the ability to leverage oneclick service ordering and Automated Service Ordering (ASO) when applicable, as well as the capability to control and designate where to route specific documents of the service provider orders. Additionally, data and documents are automatically imported into the loan file. “Our focus on automating the entire workflow to provide a better experience for the consumer and our clients is a shared priority with CoreLogic,” said Parvesh Sahi, Senior Vice President of Business and Client Development, ICE Mortgage Technology. “By automating the ordering of the wide array of solutions that CoreLogic has on our platform we will make it easier for our customers to originate or acquire more loans, at lower costs, and in a fraction of the time.” CoreLogic’s solutions are available directly from within Encompass by ICE Mortgage Technology for any Encompass user. The new integration methodology also allows CoreLogic product updates to be automatically pushed to Encompass without a user having to manually request updates. “When CoreLogic’s solutions and data are combined with the automated operational benefits of the Encompass Partner Connect APIs, users will get a robust endto-end solution that will reduce errors, save time, and save money – leading to a better overall customer experience,” said Michael Mitchell, Executive, Business Development for CoreLogic. Encompass users will receive ongoing announcements over the next 18-months introducing CoreLogic’s new solutions and enhanced user experiences leveraging Encompass Partner Connect.

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n today’s chaotic market, mortgage companies need to streamline the mortgage process so they can originate more loans. Encompass by ICE Mortgage Technology offers a truly differentiated digital platform that provides straightthrough processing for a comprehensive end-to-end workflow. From lowering costs to reducing time to close, this loan origination software enables lenders to make smarter business decisions. Encompass delivers everything that mortgage companies need to acquire and close more loans, grow their business at scale, streamline operations and remain fully compliant, all in one place. With innovative and preconfigured task-based workflows, the omni-channel experience allows for teams to get up and running without having to custom-build an environment from the ground up. “While Encompass is considered the gold standard of the lending industry, leveraging not just data and technology, but also real-world industry expertise to provide tech that actually solves problems for lenders, we are rapidly evolving what a lending platform means,” said Joe Tyrrell, President, ICE Mortgage Technology. “As we look to expose more APIs, provide direct access to the components of the platform, and create a suite of technology and data that lenders can leverage, we want to enable any experience they can envision.” Encompass maximizes operational efficiencies through automation across its users’ entire business, while also ensuring compliance with ever-changing regulations. The platform also delivers actionable data insights that help lenders benchmark against their peers and make informed decisions about where to focus to optimize their ROI. “Encompass is the industry’s leading platform for lenders and investors, with the functionality to support every channel they

use through a single system of record,” said Stephanie Durflinger, Vice President, Product Management. “As our customers’ businesses grow and more channels are added, Encompass continues to support them by minimizing complexity, steps, systems, costs or headcount needs.” Encompass provides a unique combination of powerful automation, ease of use and flexibility to help mortgage companies streamline their operations from end-to-end and take their business to the next level, without needing to leave the platform. For example, Encompass eClose is leading the industry’s transition to paperless closings with a more efficient process that eliminates the pain and added cost associated with managing multiple vendors. “We’ve also integrated an eVault solution to provide customers with secure storage of digital mortgages and notes,” Durflinger said. “Additionally, Encompass offers a fully web-based solution for correspondent investors that enables them to digitize traditionally analog processes within the secondary market and acquire loans with less work.” By leveraging data and automation, Encompass helps users reduce costs, increase revenue and deliver better customer experiences. By automating previously manual, time-consuming tasks, users can also drive efficiencies at every point in the loan lifecycle. ICE Mortgage Technology combines the native automation of Encompass with the e-collaboration and eRecording capabilities of Simplifile, along with the national electronic registry for nearly 90% of the U.S. mortgage market in MERS. Encompass enables automation of manual, time-consuming tasks to speed up the loan process and meet borrower’s demands for speed and convenience, ultimately helping to improve the borrower experience.

December 2021/January 2022

ICE www.icemortgagetechnology.com/

THE EXECUTIVES:

JOE TYRRELL, PRESIDENT OF ICE MORTGAGE TECHNOLOGY Joe Tyrrell is head of ICE Mortgage Technology, the leading cloud-based loan origination platform provider for the mortgage industry and part of Intercontinental Exchange Inc., a leading global provider of data, technology and market infrastructure.

STEPHANIE DURFLINGER, VP, PRODUCT MANAGEMENT Stephanie Durflinger is Vice President, Product Management for next generation solutions at ICE Mortgage Technology.

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How ICE Mortgage Technology is automating everything automatable for lenders and investors

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ORIGENCE origence.com/

THE EXECUTIVE:

MICHAEL FARRIS, VICE PRESIDENT OF STRATEGIC SOLUTIONS AT ORIGENCE

he loan origination process can be time-consuming and inefficient due to manual processes. Origence has addressed these common pain points by launching the Origence Mortgage Platform, a tightly integrated point of sale and loan origination system. The Origence Mortgage Platform removes inefficiencies from the loan origination process through automation and configuration. It’s an event and digital information-based system as opposed to the legacy form-based systems that the industry has relied on in the past. “Our combination of automation and the ability to make work processes happen in parallel drives down cycle times for lenders,” said Michael Farris, Vice President of Strategic Solutions . “Further, our platform has a POS and LOS that are tightly integrated for bi-directional data and documents, removing the hurdles of disparate systems.” What’s unique about the Origence Mortgage Platform is its automation and the ability to tailor workflows for different product and borrower scenarios. Using automation, Origence has been able to remove much of the manual process typically associated with other platforms in the mortgage marketplace. The Origence Mortgage Platform offers a modern technology stack solution that uses drag and drop orchestration builders to allow lenders to easily customize their system without needing technical programming skills. With the combination of LOS and POS, multiple users can work in parallel on the same loan to expedite the overall process, delivering a better experience for the borrower. For example, one team could work on collateral value, while simultaneously

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A seasoned industry veteran, Michael Farris leads the Strategic Solutions group at Origence. His focus on integrity and process-driven sales solutions have resulted in negotiated contracts with top 100 lenders in diverse technology and service industries.

The Origence Mortgage Platform increases borrower visibility and engagement throughout the loan process

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another team could work on creditworthiness. The Origence configuration embodies best practices by highlighting the opportunities for automation and streamlining workflows. The robust configuration capability allows lenders to have workflows tailored to their business that they can control 100% themselves without the need for programming. “We have implemented high-level process design plans, resulting in project plans curated to the lender’s specific needs,” Farris said. “Our high engagement partnership approach with lenders spans the duration of the implementation, from planning through full production.” With Origence, ongoing borrower communication is generated throughout the process, reducing the amount of time staff have to spend on the phone providing status updates on loans. This allows the borrower to upload their documents and check-in on outstanding documents. As a result, the borrower’s visibility and engagement in the process are maximized, increasing pull-through and improving the overall borrower experience. “Origence’s rich borrower experience allows lenders to self-provision as much data as they want, resulting not only in a quicker application, but just as importantly, a quicker time to closing,” added Farris. “We remove static conditioning with automated conditioning and dynamic tasking on the loan.” Origence was developed post-TRID with compliance built-in, not strapped on the outside like many other solutions being offered. Lenders who partner with Origence recognize the intrinsic value of the management and strategic direction of a mortgage platform that is drawing on decades of industry expertise.

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he loan production process can be incredibly complex, as well as time-consuming. To improve production, SimpleNexus launched Nexus Origination — a solution that provides lenders with a robust mobile-first tool they can use anywhere to keep their pipeline progressing. Nexus Origination features a native mobile experience for both originators and borrowers to easily navigate the mortgage process while improving the efficiency of task completion and communication between parties. The platform’s mobile-first approach enables lenders to close more loans through on-the-go origination tools while also delivering the modern convenience that today’s consumers have come to expect. “This mobile usability is a defining feature of SimpleNexus’ homeownership platform and empowers loan teams to collaborate effectively in a hyper-volume, decentralized working environment,” Cathleen Schreiner Gates, SimpleNexus CEO, said. With this solution, real estate agents gain loan status visibility, and borrowers enjoy a simple application process from their preferred device with single-login simplicity. Originators can even order credit, run pricing, send pre-approvals, sign disclosures, and execute closings all on the go with full integration with their loan origination system (LOS). Nexus Origination features bi-directional data sync and automatic data push to a lender’s LOS for added time savings and information integrity. The integration enables lenders to preserve their current origination workflows with the added efficiency gains of mobile execution. “With its single login simplicity for borrowers, Nexus Origination streamlines the customer journey to homeownership with a modern point-of-sale experience,” said Ben Miller, co-founder of SimpleNexus. After downloading the mobile app, borrowers can upload documents, eSign

disclosures and closing documents, and check their status in real-time. This single-platform experience allows borrowers to conveniently navigate all aspects of the loan process with ease from their preferred device using a single login. Nexus Origination also features collaborative tools for enhanced referral partnerships. Lenders can build lasting connections with other real estate professionals for a more collaborative and effective referral strategy. The solution keeps partners connected through the mobile app and automatically sends them loan milestone updates as their clients progress through the approval process. “SimpleNexus provides a clear and detailed onboarding process for new clients, including documentation of key roles and contacts that will assist throughout the full implementation,” said Andria Lightfoot, chief customer officer of SimpleNexus. The onboa rding process involves straightforward, guided support through the customization, configuration, beta testing, and go-live phases. An assigned project manager assists clients through their implementation. Additionally, virtual training and onsite training provide additional resources for a smooth implementation experience. Technology is evolving, and borrowers expect more. SimpleNexus is a homeownership platform that unites originators, borrowers and real estate agents for a seamless and collaborative journey from the point of thought all the way through to closing. It provides an ecosystem that helps lenders attract borrowers expecting a modern loan transaction. “As a lender ’s business expands, SimpleNexus can keep up with their ever-changing needs by bringing together borrowers, partners, and loan originators in a single branded platform,” added Gates. “Nexus Origination delivers a personal, trusted home-buying experience for customers through a mobile-friendly solution.”

December 2021/January 2022

SIMPLENEXUS www.simplenexus.com/

THE EXECUTIVES:

CATHLEEN SCHREINER GATES, CEO Cathleen Schreiner Gates has been driving accelerated growth at an early stage and global software-as-a-service (SaaS) organizations for 35 years.

BEN MILLER, CO-FOUNDER As a co-founder at SimpleNexus, Ben Miller oversees ongoing business operations, including strategic partnerships, implementation management, and customer success functions.

ANDRIA LIGHTFOOT, CHIEF CUSTOMER OFFICER Andria Lightfoot is a renowned mortgage technologist with experience leading mortgage operations, providing strategy for enterprise software solutions and implementing innovative change management solutions.

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Nexus Origination from SimpleNexus features a native mobile experience for both originators and borrowers

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STAVVY stavvy.com

THE EXECUTIVE:

SHANE HARTZLER, CHIEF STRATEGY OFFICER, STAVVY

ost digital solutions in the lending industr y are designed to solve one problem and built for one audience in mind. This fragmentation makes it difficult for everyone involved in the lending process to communicate with each other effectively. Stavvy has the power to bring these disparate components together. Stavvy enables digital transformation by helping organizations navigate complex financial and legal transactions easily and safely, which allows organizations to put customer experience at the forefront. Stavvy was purpose-built for real estate transactions, with a focus on the holistic user experience. Instead of replacing workflows or expecting a change in user behavior to adapt to the platform, Stavvy integrates into the way users are already working and automates the entire process. 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. 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. This full closing platform supports any sort of closing: a full RON, RIN, in-person or hybrid. Today, the platform integrates with Encompass by ICE Mortgage Technology, and integrations with other LOS systems are in development. It can intake documents from multiple sources as well as handle signings and annotations. And since Stavvy is designed for the title agent workflow, closing agents can easily inte-

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Shane Hartzler, the Chief Strategy Officer for Stavvy, helps guide Stavvy’s vision, working with lenders, title professionals and industry stakeholders to evaluate market needs and identify innovation opportunities to support companies making a digital transformation.

Stavvy’s solution securely digitizes and automates every aspect of the real estate transaction process

December 2021/January 2022

grate the platform into the way they already work. “Our platform does a better job of facilitating compliance than competing products, and allows for easy communication with the lender and other parties throughout the transaction,” Chief Strategy Officer Shane Hartzler said. “There are also key integrations with LOS providers, document companies and title production software that remove additional steps.” Some of the biggest roadblocks that obstruct most loan originations are trailing documents and spelling or paperwork errors. By using cross-check fillable fields and verifying that all requisite information is included, Stavvy drastically reduces the time spent on pre-and post-close quality control and time wasted updating incorrect documents. For lenders, Stavvy features full vendor title compliance. Even before a title order is placed, lenders can assess a title agent and make sure they have the required insurance, certification and more. Although Stavvy isn’t an LOS, it is built to integrate with all major LOS platforms. “The loan origination process today is fragmented, with disparate systems and a mix of paper and digital pieces that can be cumbersome to manage,” added Hartzler. “Our customers typically want to integrate those disparate pieces and realize material efficiencies as a result.” Stavvy is built to serve financial institutions of all sizes, and scale as they grow. Because lenders and title companies are working on the same platform, there’s no learning curve for additional solutions or time spent syncing across different tools.

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FinXperience from Tavant brings all parties in the loan process together onto one collaborative platform “With our VELOX platform, we helped our lender clients not only grow but also improve borrower/loan officer collaboration and close more loans faster. Our clients grew 117% YoY for the period (first half of 2021), improved their conversion by 64%, and reduced cycle times by 52% across purchases and refi nances while improving loan officer productivity by 29%,” said Abhinav Asthana, Head of Tavant’s Fintech Products Business & Growth. “How did we achieve it? Our data-driven ecosystem that plugs into over 130 data and third-party service partners hyper-personalizes your borrowers’ experience, augments your business processes with hybrid workflows - leveraging humans and machines, and enables your loan officers to serve your borrowers better,” added Asthana. FinXperience integrates through a bi-directional framework with its surrounding systems, including CRM platforms, pricing engines, document management systems, and LOS. This integration allows all participants in the process to interact with and access loan data in a true, real-time manner. “Tavant’s user journey and persona mapping for every party within the mortgage transaction leads to an optimal workspace for each user. The UX is friendly and intuitive, providing the most productive and efficient interaction coupled with bi-directional real-time data directly from the LOS based on security and data access rights,” said Mohammad Rashid, Head of Fintech Practice. He further commented, “Our alignment with digital transformation strategies across the home loan journey and our injection of AI/ML techniques along the way reduces the cost of originating mortgages through scaled automation opportunities at every junction.”

THE EXECUTIVES:

HASSAN RASHID, CHIEF REVENUE OFFICER Hassan Rashid steers Tavant’s strategy for continued profitable revenue growth, supported by a fully aligned business development engine.

MOHAMMAD RASHID, HEAD OF FINTECH PRACTICE Mohammad Rashid is responsible for driving innovation, strategy, offerings, and revenue of Tavant’s market-leading fintech business.

ABHINAV ASTHANA, HEAD OF FINTECH PRODUCTS BUSINESS AND GROWTH Abhinav Asthana is responsible for the overall innovation, go-to-market, and product management strategies for Tavant VΞLOX. 101 ❱ HOUSINGWIRE

he use of tech in the current mortgage application process is disjointed and siloed. Borrowers, loan officers, and the corresponding processors and underwriters are often working on entirely different systems. Meanwhile, borrower’s real estate agents, brokers, and financial advisers may not even have access to those systems, preventing them from supporting their clients through what is typically the largest financial transaction of their lifetime. With FinXperience, Tavant has brought all parties together on one collaboration platform and provided hyper-personalized digital journeys to borrowers, loan offi cers, brokers, financial advisers, and other participants in the lending ecosystem. The platform is loan origination system-agnostic and is designed to deliver value to both borrowers and lenders–”from the point of thought of buying a house to the point of owning a home.” “Most of our competitors have offerings that coerce the lender to follow a pre-determined and inflexible customer journey since their architectures provide for limited flexibility on the user experience front,” Chief Revenue Officer Hassan Rashid said. “The flexibility of FinXperience allows lenders to create an extremely differentiated experience from other lenders, as well as a hyper-personalized experience across their customer segments. There are no cookie cutters here.” A s a w h i t e - la b el s olu t i o n, t he FinXperience platform is highly customizable and configurable, with the ability to align with a lender’s specific branding and marketing differentiators and customer segmentation. The platform’s features, functionality, and volume-handling capabilities are scalable with the lender’s growth in the market.

TAVANT www.tavant.com

December 2021/January 2022

Point of Sale Solutions Special

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Report

December 2021/January 2022

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with a leading product and pricing engine and Empower, Black Knight’s comprehensive loan origination system (LOS). Borrower Digital was designed based on specific borrower personas and scenarios. Only relevant information is required, which helps streamline processing and improve the experience. The solution validates both data and documents and alerts the borrower of immediate next steps, which helps reduce cycle times and backand-forth between the borrower and their loan officer. “Black Knight is leveraging the power of innovative and integrated technologies to not only simplify the mortgage application and approval process for borrowers, but to also improve the back-end process for loan officers too,” said Rich Gagliano, president of Origination Technologies at Black Knight. “With a quick implementation process and pre-configured connectivity with the LOS, Borrower Digital is helping lenders gain a competitive edge by providing superior mortgage experience for their customers.” The product is complemented by Loan Officer Digital, Black Knight’s digital platform which is designed specifically for loan officers (LOs) to manage the details of each application. With an intuitive dashboard and on-the-go design, Loan Officer Digital enables LOs to easily lead the consumer through the mortgage application process and respond to borrower questions. The combination of these powerful technologies provides an enhanced experience for borrowers throughout the mortgage loan application process. “Borrower Digital’s robust self-service functionality, advanced automation capabilities and seamless integrations result in an unmatched consumer experience from start to finish,” Gagliano said.

THE EXECUTIVES:

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enders have come to appreciate the benefits technology can bring – but those benefits are only useful if the implementation of new tools doesn’t make the loan process more complicated. Many mortgage lenders want to reduce the work involved with integrating third-party applications, as well as identify other ways to better streamline their operations and improve the customer experience. To address these needs, Black Knight developed Borrower Digital – a point-ofsale solution that delivers a single, fully integrated and customer-facing mortgage loan application solution. Borrower Digital streamlines and simplifies the loan application process for the borrower by guiding them through the pre-qualification, pre-approval and refinance processes. Once a consumer finds a home and engages with a lender, Borrower Digital walks the borrower through the loan application process, which is based on each lender’s configurations and is accessible via a responsive mobile design or dynamic web application. Borrowers can continue to use Borrower Digital to track their application process, as well as communicate with their loan officer, helping to reduce processing delays and enhance the overall mortgage loan experience. Additionally, the solution leverages artificial intelligence (AI) to guide borrowers through the mortgage application process. Borrowers can upload identification and other supporting documents, and Borrower Digital identifies that the appropriate documents are received – saving valuable time for lenders. Information is routed from the borrower to the loan origination system and vice versa, with the solution providing prompt feedback. Borrower Digital also includes integrations

December 2021/January 2022