Tech Talk

GoDocs, The Mortgage Office Announce New Loan Processing Integration

GoDocs and Applied Business Software, makers of The Mortgage Office (TMO) private lending software, unveiled an integration that will provide an end-to-end, single-system solution for processing commercial loans. Companies that have struggled to keep up with demand will be able to process hundreds of more loans per month and operate at scale without adding resources. Moving forward, lenders can process loans through one platform with just a few clicks while also improving commercial loan document strength.

For decades, TMO has provided software solutions to help manage any size and volume of loans, the company said. GoDocs has offered automated documentation solutions ensuring every application is complete, compliant and accurate. As a result, loans can be processed at an unprecedented speed while also improving document strength and supporting the needs of enterprise-level lenders.

By integrating both platforms, users now have access to an end-to-end solution that will produce complete and compliant loan documents in a matter of minutes.

Offerpad Reveals New Mobile App

Offerpad, the tech-enabled platform for buying and selling residential real estate, unveiled its newest mobile app that simplifies the home loan process to make it faster and easier for borrowers.

The customizable and flexible loan application process allows users to navigate the application process from the mobile app, online portal or toggle back and forth for a flexible and frustration-free mortgage experience. They can access loan applications, complete tasks, securely scan, upload and e-sign documents, check on loan progress and communicate with an Offerpad loan officer. Users also can access loan products, pricing, quotes and rates from anywhere, with push notifications providing immediate transparency into loan progress, including pre-qualification or pre-approval status. Inapp notifications for critical requests and required tasks ensure faster loan processing.

RealOpen Unveils World’s First RealScore Feature

RealOpen, which helps high-net-worth crypto holders purchase luxury real estate, has launched RealScore, the world’s first crypto purchasing power feature. RealScore provides high-end real estate buyers and sellers with a real-time, credible context to evaluate the asset strength behind a specific offer, the company said.

Using the buyer’s cryptocurrency wallet address, patent-pending RealOpen analyzes buyers’ mix of crypto assets and ultimately determines their reliable purchasing power — assuring the seller of sufficient available equity with a cryptographic analysis. Factors used to provide a score include the diversity of the basket of coins used to fund the offer, buyer-held cryptocurrency above the offer price and escrow duration. These factors are then translated into a visual RealScore. RealOpen launched in April 2022 as the first company focused on accepting cryptocurrency for real estate transactions.

Photo courtesy of PRNewswire

Graphic courtesy of Business Wire

Realtor.com Adds Buying Power Tool

Realtor.com has introduced a buying power tool to help home shoppers see whether a specific home is “affordable,” “a stretch,” “difficult” or “out of reach.” It uses a home buyer's specific financial details, current mortgage rates, taxes, insurance and HOA fees to determine if the monthly payments will be comfortable.

Buying power labels now appear directly on home listings on realtor.com, making it the first national home search site where shoppers can filter their search by selecting their desired affordability range.

Realtor.com surveys found that more than two-thirds (68%) of shoppers were surprised by what they could afford for their first home.

Visitors to the affordability calculator enter their income, monthly debt payments and available funds. By saving this information to their profile, listings on realtor.com will include an affordability label — “affordable,” “a stretch,” “difficult” or “out of reach.” Users can also filter their search by homes that are within their desired affordability range.

Yardi Releases Customer-Centric CRM IQ

Yardi has released RentCafe CRM IQ, a customer-centric relationship management solution for multifamily operators. Built into Yardi Voyager and RentCafe product suites, CRM IQ helps manage prospects, applicants and residents through every stage of the leasing and resident lifecycle.

CRM IQ centralizes leasing offices with CLO-friendly features that streamline lead management, lease conversion and resident services. Leasing agents can take advantage of a dashboard that prioritizes customer-oriented data and provides a consolidated view of the customer journey across a portfolio.

The new features give site teams more benefits including segmented prospect stages to ease strategically targeting higher-quality leads without extensive training, and tools for managing lease renewals, resident services, maintenance requests and more. CRM IQ includes a new Communication Hub, providing a single aggregate view of all customer interactions and engagement capabilities. It also has a tenant advocacy feature to create more opportunities for resident referrals and testimonial engagement.

Zillow, Opendoor Announce Multi-year Partnership

Zillow Inc. and Opendoor Technologies Inc. have announced a multi-year partnership that allows home sellers on the Zillow platform to request an Opendoor offer to sell their home.

Potential sellers on Zillow apps and sites may request and view an offer directly from Opendoor and compare it to an open-market sale using a real estate agent. Opendoor offers will be available on Zillow, and customers will be able to use the service as a standalone offering or package it with other Zillow home shopping services such as financing, closing and agent selection. Zillow customers will be able to work with a licensed Zillow advisor.

“As we bring the housing super app to life, we’re empowering our millions of visitors to understand all their options and transact in the way that best meets their housing needs,” said Zillow Chief Operating Officer Jeremy Wacksman.

"By bringing together Zillow's market-leading audience and Opendoor’s e-commerce platform, more consumers will have the option to sell to Opendoor and save themselves the stress and uncertainty of a traditional sale process,” said Opendoor President Andrew Low Ah Kee.

Photo courtesy of PRNewswire

Photo courtesy of PRNewswire