Mortgage Tech Rundown looks at the latest news in mortgage technology, featuring new product updates, integrations and announcements.
Residential real estate services company Realogy Holdings Corp. partnered with Home Partners of America, a residential real estate investment and management company, to launch a new solution that aims to provide consumers a new way to buy and sell their homes.
The solution, RealSure, enables Realogy affiliated agents with two distinct programs: RealSure Sell and RealSure Mortgage. According to the company, RealSure Sell offers home-sellers with qualifying properties a cash offer immediately upon listing, while RealSure Mortgage allows a seller, who is enrolled in RealSure Sell, to make an offer on their next home before their current one is sold.
“We’re delighted to partner with Realogy and their affiliated real estate agents, helping more people sell their homes with more choice and control, all while being able to close with greater confidence and less risk,” said Bill Young, chief executive officer of Home Partners of America. “Today’s residential market is being transformed by technology, so sellers and their agents need new tools in order to move forward with both certainty and flexibility.”
Advanced Data Corporation, a provider of compliance, fraud prevention and enhanced verifications for the mortgage industry, announced it was approved as an authorized report supplier of verification of employment and income reports for the Desktop Underwriter validation service, a component of Day 1 Certainty.
According to the company, Day 1 Certainty, which is provided through Fannie Mae, frees mortgage lenders from representations and warranties for validated loan components. As an authorized report supplier, the company aims to provide more speed to the market, as well as improve the overall borrower experience.
“Day 1 Certainty is a huge step forward in helping lenders compete in the digital mortgage landscape,” said Allen Johnson, CEO of Advanced Data. “We are proud to continue delivering digitization, certainty and stronger risk management to mortgage lenders.”
DataVerify, a provider of data verification, risk mitigation and data aggregation services, announced it now provides flood zone determinations to the mortgage industry.
Through its sister company, DataVerify Flood Services, the company will now deliver flood zone determinations nationwide for lender compliance with National Flood Insurance Program regulatory requirements.
“As a National Flood Determination Association member company, DataVerify Flood Services offers state-of-the-art mapping, tracking, convenient reporting options, and dependable flood zone determinations,” The company said in a statement.” Leading-edge technology enables DataVerify Flood Services to provide timely and reliable determinations during the lending process while enabling reliable property tracking throughout the life of the loan, thus ensuring its status remains compliant with the mandatory purchase requirement.”
