MARKET OUTLOOK, REAL ESTATE INVESTMENT
Businesswire | May 18, 2023
Cherre, the leading real estate data integration and insights platform, today announced its new Data Submissions Portal, a product that automates and streamlines data collection and reporting. Building on Cherre’s ability to connect all client data from internal systems and third-party data vendors, the Cherre Data Submissions Portal allows customers to easily collect data from their service providers and partners (including property managers, fund administrators, and joint venture partners) and use it to power faster and smarter reporting – while retaining complete control of the process.
The Cherre Data Submissions Portal solves the common challenges that investment managers and fund administrators face when collecting data from their service providers and partners. These challenges include manual mapping, validation, review, and approval; inconsistent data formats; incomplete or inaccurate data; delayed or missing reports; and a lack of transparency into submission status across providers within a cycle. The Cherre Data Submissions Portal automates and simplifies the entire data collection and reporting process, enabling customers to:
Choose from Cherre’s prebuilt library of financial, operational, and ESG submission templates, or to customize their own.
Manage master data mappings, including easily adding or editing the chart of account mappings.
Invite service providers and partners to submit data through a secure and user-friendly interface.
Validate and standardize data using Cherre’s robust library of validation rules.
Manage and track submissions through a configurable review, commentary, and approval workflow.
Review and approve data with one click, then access it in real time using Cherre’s asset management dashboards or export it to a downstream data warehouse or financial application.
“The Cherre Data Submissions Portal gives our customers unprecedented flexibility, control, and transparency over their submission cycles,” said Yuri Andersen, Senior Product Manager at Cherre. “Investment and fund managers can now easily collect and validate data from their providers in a scalable and secure way. This solution allows them to save time and money on data management, ensure accuracy and timeliness, and focus less on data wrangling and more on reporting and decision making on their assets.”
The Cherre Data Submissions Portal helps investment managers and fund administrators improve their data quality, efficiency, and transparency. By using the Cherre Data Submissions Portal, customers can:
Reduce manual data collection and reporting costs.
Increase data accuracy and completeness.
Accelerate reporting cycles.
Quickly onboard new third-party service providers and partners.
Monitor and assess the performance of their service providers and partners.
Enhance data-driven decision making and performance optimization across their portfolio.
“With the Cherre Data Submissions Portal, we have solved a long-standing problem for investment managers and fund administrators,” said L.D. Salmanson, CEO and Co-Founder of Cherre. “Unlike manual, outsourced, or subpar solutions, our portal offers a comprehensive and seamless way to collect, validate, approve, and access data from any source, providing our clients with a full and holistic solution for all their data needs.”
Thanks to the unprecedented flexibility of the portal and Cherre’s data engine, customers can ingest and map any type of real estate data including financial, operational, tenant experience, ESG, and endless other topics.
Cherre is the leader in real estate data and insight. We connect decision makers to accurate property and market information, and help them make faster, smarter decisions. By providing a unique “single source of truth,” Cherre empowers customers to evaluate opportunities and trends faster and more accurately, while saving millions of dollars in manual data collection and analytics costs. Cherre launched in 2016 and is located in New York City.
REAL ESTATE TECHNOLOGY, MORTGAGE AND LENDING
Accesswire | May 04, 2023
Stavvy, the fintech company reshaping digital and remote collaboration for lending and real estate companies, today announced that they have entered into an agreement with WFG National Title Insurance Company (WFG), a leading provider of title insurance and real estate settlement services for commercial and residential transactions nationwide, through which they will provide the company and its customers with eClosing technology solutions. This exciting collaboration aims to empower clients with cutting-edge technology solutions that drive customer experience, enhance digital protection, and combat fraud during the closing process.
As the world becomes more digital, the demand for secure and efficient eClosings has grown rapidly. Whether customers want a fully digital solution or a hybrid closing approach, Stavvy and WFG will work together to provide clients with digital closing solutions and a seamless closing experience.
"Stavvy is incredibly excited to work with WFG to bring innovative eClosing solutions to the masses," said Kosta Ligris, Founder and CEO of Stavvy. "Our collaboration will enable us to leverage our strengths and expertise to deliver a digitally integrated and secure closing experience that is sure to exceed buyer expectations."
WFG is well known for its dedication to outstanding customer experience and improving the closing process for everyone. The company knows that in today's tech-driven era, consumers are increasingly seeking flexible digital solutions for their real estate needs. WFG and Stavvy have come together to provide cutting-edge remote online notarization (RON) services that offer an unparalleled level of digital security with knowledge-based authentication (KBA), easy access to closing documentation, and flexible scheduling.
"We understand the importance of innovation and adapting to new technologies in our industry," said WFG SVP, National Escrow Advisor Natalie Koonce. "Through our relationship with Stavvy, we are excited to offer our clients eClosing solutions that enhance the overall efficiency of the real estate and mortgage lending industries, while also providing a seamless and secure closing experience."
The Stavvy digital mortgage platform, built by industry experts, is designed to simplify and maximize mortgage lending, real estate, and legal workflows. With Stavvy, clients can expect various benefits, including greater convenience, heightened security, and enhanced efficiency.
Stavvy is a Boston-based, venture-backed financial technology company building solutions to manage security risk, eliminate fragmentation, and increase speed, efficiency, and transparency in real estate and mortgage lending. The company's mission is to transform fragmented workflows into trusted and seamless experiences where technology does the work so people can focus on what matters most. Its platform offers eClosing functionality, including eSign, digital notarization, and video conferencing designed for real estate and mortgage professionals. To learn more, visit stavvy.com.
About WFG National Title Insurance Company
Portland, Oregon-based WFG National Title Insurance Company (WFG), a Williston Financial Group company, is a leading provider of title insurance and real estate settlement services for commercial and residential transactions nationwide. One of just six truly national title underwriters, WFG accomplished its national footprint faster than any other underwriter in history.
Built around the directive to "communicate, collaborate, coexist," WFG strives to improve the real estate process through the creation and delivery of comprehensive, innovative services and technology solutions that empower and increase transaction transparency for the title agents, real estate professionals, lenders, and consumers it serves. The company enjoys a Financial Stability Rating of A' (A prime), as assigned by Demotech, Inc. For more information, visit www.wfgtitle.com.
REAL ESTATE INVESTMENT, MORTGAGE AND LENDING
PRnewswire | May 23, 2023
Rocket Mortgage, the nation's largest retail home lender and part of Rocket Companies (NYSE: RKT), today introduced ONE+, a new 1% down home loan program that will dramatically increase access to homeownership for millions of low-to-moderate-income earning Americans.
With ONE+, a homebuyer is only required to make a down payment of 1% of the purchase price and Rocket Mortgage will cover the remaining 2% needed to reach the required threshold for conventional loans. In addition to reducing upfront costs, ONE+ completely eliminates the expensive monthly mortgage insurance fee for the client – which is traditionally required if the buyer places less than 20% down on their purchase.
"Rocket Mortgage prides itself on finding innovative solutions and lending programs that help clients achieve their goals in any market cycle. No other lender has a mortgage option that makes affordable homeownership possible for as many Americans as ONE+," said Bob Walters, CEO of Rocket Mortgage. "We talk with people from all walks of life every single day – many of whom are ready to own a home, and could easily make the monthly mortgage payments, but are having trouble saving for a down payment. ONE+ is a response to that feedback and the latest example of Rocket's commitment to creating programs that help make homeownership more attainable."
Designed to help everyday Americans achieve homeownership, ONE+ is available to homebuyers purchasing single-family homes – including manufactured homes – whose income is equal to or less than 80% of their area median income (AMI). With this expansive AMI eligibility, Rocket Mortgage estimates that more than 90 million people can meet the income requirements for this program – based on publicly available income data.
As an example of the savings possible through ONE+, a homebuyer purchasing a $250,000 home typically needs a minimum of 3% down, or $7,500. Now, they will only need a $2,500 down payment. In addition, ONE+ offers mortgage insurance at no cost to the client, which on a $242,500 loan, can be as much as $245 per month. That improves a homeowner's monthly cash flow and can save as much as $20,500 over the first seven years after closing – the average amount of time mortgage insurance needs to be paid.
This is the third initiative Rocket Mortgage has launched in the last six months with affordability in mind. Other programs such as BorrowSmart Access and Purchase Plus focus on addressing challenges for homebuyers in underserved communities. By offering a $3,000 credit with BorrowSmart Access and a $7,500 credit with Purchase Plus, hurdles such as closing costs and down payments are lessened and accessibility is increased.
Homebuyers can apply for ONE+ using Rocket Mortgage's industry-leading digital mortgage experience at RocketOnePlus.com and on the Rocket Mortgage mobile app. They can also apply through one of the thousands of mortgage brokers across the country who partner with the lender through Rocket Pro TPO.
About Rocket Mortgage
Detroit-based Rocket Mortgage is one of the nation's largest home lenders, closing more mortgage volume than any other lender in 2022, and is a part of Rocket Companies (NYSE: RKT). The lender enables the American Dream of homeownership and financial freedom through its obsession with an industry-leading, digital-driven client experience. In late 2015, it introduced the first fully digital, completely online mortgage experience. Since its founding in 1985, Rocket Mortgage has closed more than $1.6 trillion of mortgage volume across all 50 states.
Rocket Mortgage is ranked highest in the country for client satisfaction in mortgage origination by J.D. Power. Combining the mortgage origination and servicing studies, Rocket Mortgage has earned 20 total accolades from J.D. Power – the most of any mortgage lender. Rocket Companies, Rocket Mortgage's parent company, ranked #11 on Fortune's list of the "100 Best Companies to Work For" in 2022 and has placed in the top third of the list for 20 consecutive years.