REAL ESTATE INVESTMENT,MORTGAGE AND LENDING
MeridianLink | November 08, 2022
MeridianLink, Inc.® (NYSE: MLNK) today announced it has completed the acquisition of OpenClose™, a leading fintech provider of residential mortgage software solutions for banks, credit unions, and independent mortgage lenders. The acquisition will enable customers to deliver seamless digital lending experiences to consumers, while reducing costs and time to close. The deal will also support the continued market expansion of MeridianLink’s full system capabilities serving depository organizations.
MeridianLink is committed to ongoing innovation and will continue its investment in both the OpenClose (LenderAssist™) and MeridianLink® Mortgage (formerly known as LendingQB®) LOS solutions, giving customers more choices for award-winning digital lending offerings. The OpenClose and MeridianLink Mortgage workflow-driven solutions offer market-leading digital loan origination systems (LOS), point-of-sale (POS), product and pricing engine (PPE), and business intelligence (BI) functions, with easy access from any browser or mobile device.
“We are thrilled to welcome the OpenClose team to MeridianLink. Combining the strengths of our organizations is great for the industry as we further enable our customers to deliver fast, frictionless mortgage lending experiences, from application through closing, This acquisition ensures that all customers can be confident that they have a comprehensive, premier mortgage solution in whichever offering they choose and that we will continue to invest in both offerings as we evolve the products to incorporate the best capabilities of each.”
-Nicolaas Vlok, CEO of MeridianLink
As part of the integration, MeridianLink Mortgage customers will be able to access the OpenClose point-of-sale (POS) system, Consumer Assist™, providing a superior experience for borrowers. In addition, OpenClose LenderAssist customers will be able to leverage the MeridianLink PriceMyLoan product and pricing engine (PPE), offering richer pricing options and features like parallel mortgage insurance pricing, an integrated fee engine, and loan comparison reports.
Founded in 1999, OpenClose pioneered a SaaS-based lending automation software platform for the mortgage industry. Today, the company's comprehensive loan origination software helps customers cut the cost to manufacture loans while reducing processing and underwriting cycle times. For these reasons and more, OpenClose has experienced strong year-over-year growth as financial institutions invest in mortgage technology.
Since our founding, customers have validated our company’s capabilities by choosing our SaaS solutions time and time again. Now, after record growth over the last several years, we’re excited to reach more customers faster while still providing the best-in-class technology, team, and customer service to which our customers have become accustomed, I am confident that our innovative, talented, and dedicated team along with our industry-leading technology will thrive even further as part of MeridianLink,said JP Kelly, president of OpenClose.
About MeridianLink
MeridianLink® (NYSE: MLNK) is a leading provider of cloud-based software solutions for financial institutions, including banks, credit unions, mortgage lenders, specialty lending providers, and consumer reporting agencies. Headquartered in Costa Mesa, California, MeridianLink provides services to more than 1,900 customers, including a majority of the financial institutions on Forbes’ 2021 lists of America’s Best Credit Unions and Banks.
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AGENT,REAL ESTATE ADVICE
RentSpree | December 21, 2022
RentSpree, the industry's premier end-to-end rental management software provider, is dedicated to changing the mindset around the profitability of rental properties. A 2022 RentSpree + RealTrends Rental Power Rankings study made clear that many agents do not view rentals as worthy of their time and resources. Approximately 50% of the surveyed agents claimed that the commission was "too low" for the time and effort required to lease a rental property, and 43% of surveyed agents claim that a lack of knowledge of the rental market keeps them from working in that space. In short, many real estate agents see working with rentals as a poor return on investment (ROI).
RentSpree challenges that perception and highlights how rentals can improve agent profitability year-round, especially in an economic downturn. With new insights into the misconceptions of the rental industry, here are some tips on how agents can stay ahead of the economic forecast:
Leverage the Right Resources:
With the right tools and industry knowledge, real estate agents can increase their cash flow by assisting tenants and working with landlords and property management companies. Depending on their goals, agents could work with buyers and sellers while the market is hot, and renters during a slower part of the year, highlighting how beneficial the malleability of rentals can be.
Consider Current Business Expansion:
Many agents forget or don't realize that their current business structure might already be set up to work with rental properties. If an agent already works with real estate investors to buy and sell property, they could also offer their services to fill the property with a tenant when it is move-in ready. This can be an excellent option for adding income to your business by establishing yourself as the go-to agent for buying, selling, and renting out properties in the area. As agents, time and resources are invaluable, regardless of the economic situation.
Tap Into the Value of PropTech:
Agents can lean into property technology (PropTech) tools to simplify working with rentals. PropTech gives power back to agents to work the field rather than handle time-consuming paperwork on a transaction's front or back end. The right solutions also enable real estate agents to:
Set up a listing cart to show properties to tenants through the MLS and lets them quickly help renters fill out online applications
Facilitate payment of the tenant screening fee
Pass on the paperwork to the landlord as soon as it's completed
Allow the tenants to be notified of a landlord's decision within 24 to 48 hours of applying (cutting two to five days out of the typical manual application cycle)
Boost agents' hourly earnings and return on investment exponentially.
With a fresh perspective on the fluid real estate market heading into 2023, and nearly 50 million rental properties across the United States according to numbers from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, there has never been a better time for agents to consider working with rentals.
About RentSpree
Los Angeles-based RentSpree is a provider of award-winning rental software that helps seamlessly connect real estate agents, owners, and renters to simplify and automate the entire rental process, from listing to lease. The all-in-one platform is known across all 50 states for its easy and secure interface and suite of rental tools, including tenant screening, rent payments, marketing and renter management. To date, RentSpree has partnered with more than 250 of the most influential MLSs, real estate associations and brokerages to serve over one million users in the U.S. RentSpree is ranked 625th on Inc. 5000's fastest-growing private companies in 2022.
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HOME AND DESIGN,REAL ESTATE INVESTMENT
Wood Partners | December 02, 2022
Wood Partners, a leading national multifamily real estate developer, today announced the groundbreaking of its latest luxury residential community, Alta Firewheel, located in Garland, Texas. Currently under construction, Alta Firewheel is set to open in December 2023 with pre-leasing to begin in September 2023.
Alta Firewheel is the second Wood Partners project in the Garland submarket, following Alta Spring Creek that opened and sold in 2021. Located near the President George Bush Tollway, the community will offer an easy commute to major employment centers and high-density retail. Residents of Alta Firewheel will enjoy direct access to a myriad of dining, shopping, and entertainment options located at Firewheel Town Center, boasting more than one million square feet of retail space within walking distance of the community. Other major attractions include Lake Ray Hubbard, Firewheel Golf Park, Breckinridge Park and One Eleven Ranch Park.
"We are pleased to continue expanding our presence in the North Texas area with the groundbreaking of Alta Firewheel, Alta Firewheel will serve as the perfect community for young professionals looking to put down roots in the neighborhood and explore all that Garland has to offer. We aim to provide a comfortable and convenient home for our residents while also making a positive impact on the City of Garland."
-Ryan Miller, Managing Director for Wood Partners
Once complete, Alta Firewheel will offer 250 luxury apartment homes comprised of one-, two- and three-bedroom floor plans with many homes offering views of the natural landscape that runs adjacent to Rowlett Creek. Each home will be outfitted with top-of-the-line luxury interior finishes including granite countertops, stainless steel appliance packages, wood-style flooring and upgraded fixtures and pendant lighting. Additional luxury finishes include 42-inch cabinets with soft close drawers, programmable thermostats, private yards and in-unit washer and dryers.
Alta Firewheel will also provide its residents with best-in-class community amenities, including a resort style pool with tanning ledges, outdoor firepits, grilling areas, outdoor lawn spaces and an on-site dog park with a pet wash station. Inside the clubhouse, residents will be able to take advantage of a state-of-the-art fitness facility with advanced equipment and yoga capabilities, as well as ample lounge spaces for social gatherings and coworking.
In addition to the premiere retail and dining options located within minutes of the community, Alta Firewheel's prime location will also place residents in proximity to the city's two major employment hubs - City Line and the Telecom Corridor. Top employers in the area include State Farm Insurance, Blue Cross & Blue Shield of Texas, Genpact, GEICO, and Cisco Systems.
About Wood Partners
Wood Partners is a national leader in the development, construction, and management of multifamily communities across the United States. The company has been involved in the acquisition and development of nearly 90,000 conventional multifamily homes with a combined capitalization of $17.3 billion. The company currently owns more than 70 properties across the United States representing over 20,000 homes. Headquartered in Atlanta, Wood Partners has offices in 22 major markets across 15 states nationwide. The company also operates Wood Residential, an award-winning, full-service property management group that proudly operates both properties developed by Wood Partners and communities owned by third parties. For three years running, Wood Residential has ranked No. 1 nationally for online reputation in the J Turner ORA™ Power Rankings (Division III).
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