Market Outlook, Mortgage and Lending
Businesswire | July 10, 2023
Today, Valligent a market-leading appraisal management company, recently acquired by VerosTM, an industry leader in enterprise risk management and collateral valuation services, announced their integration to the ICE Mortgage Technology™ Platform. Through this integration, mortgage industry stakeholders have the most efficient access to all collateral valuation related products and services.
The combined forces of Valligent and Veros provide lenders with a unified ecosystem of solutions for a compliant, efficient, and accurate valuation process. By partnering with Valligent and leveraging the ICE Mortgage Technology® Platform, lenders will have access to a seamless technology solution that can solve all property valuation and collateral risk management needs. A full spectrum of valuation products is available including traditional appraisals, AVMs, desktop valuations, and the only 4-hour Evaluation product for equity lending.
“Integrating with Encompass® by ICE Mortgage Technology® was always part of the plan when we acquired Valligent,” said Darius Bozorgi, CEO of Veros Software. “Providing a streamlined experience with our full spectrum of appraisal, valuation data and analytics and related collateral risk management solutions has always been our priority. Our partnership with ICE Mortgage Technology enables Veros and Valligent to drive more efficiency for all our customers. Collectively, we can expand our products and services to meet the demands of the digital mortgage industry.”
Founded in 2003 and headquartered in Roseville, California Valligent established itself as a leader in appraisal, alternative valuation, QC and Regulatory Audit solutions. Utilizing a combination of experienced property valuation personnel, automation, Artificial Intelligence, powerful functionality, and mobile technology, Valligent is dedicated to making the property valuation process simple and efficient for everyone involved. Valligent provides comprehensive valuation technology expertise and services to hundreds of banks, credit unions, mortgage lenders and insurance companies nationally. We have developed a state-of-the-art valuation technology platform, fully integrated with best-in-class data providers, Loan Origination Systems (LOS) and on-demand cloud computing platforms and API providers. For more information, visit valligent.com.
A mortgage technology innovator since 2001, Veros is a proven leader in enterprise risk management and collateral valuation services. The firm combines the power of predictive technology, data analytics, and industry expertise to deliver advanced automated solutions that control risk and increase profits throughout the mortgage industry, from loan origination to servicing and securitization. Veros’ services include automated valuation, fraud, and risk detection, portfolio analysis, forecasting, and next-generation collateral risk management platforms. Veros is the primary architect and technology provider of the GSEs’ Uniform Collateral Data Portal® (UCDP®). Veros also works closely with the FHA to support its Electronic Appraisal Delivery (EAD) portal. The company is also making the home buying process more efficient for our nation’s Veterans through its appraisal management work with the Department of Veterans Affairs.
About ICE Mortgage Technology
ICE Mortgage Technology® is part of ICE (NYSE: ICE), a global data, technology and market infrastructure company that designs, builds, and operates digital networks to connect people to opportunity. Backed by ICE’s global resources, we offer a truly differentiated digital platform that provides straight-through processing for a more comprehensive end-to-end workflow than any other provider in the market. We reach almost every mortgage in the U.S. by combining the native automation of Encompass® with the e-collaboration and e-recording capabilities of Simplifile®, along with the national electronic registry for nearly 90% of the U.S. mortgage market in MERS®. Ultimately, our technology enables people across the industry to focus on personal connections when they need it most, and support borrowers for a better journey of homeownership. Visit icemortgagetechnology.com to learn more. ICE Mortgage Technology combines technology, data, and expertise to help automate the mortgage process, from consumer engagement through loan registration, and every step and task in between. ICE Mortgage Technology is the leading cloud-based loan origination platform provider for the mortgage industry, with solutions that enable lenders to originate more loans, lower origination costs, and reduce the time to close, all while ensuring high levels of compliance, quality, and efficiency. Visit icemortgagetechnology.com or call (877) 355-4362 to learn more.
Real Estate Advice
Businessiwire | August 11, 2023
SmartRent, Inc. (“SmartRent” or the “Company”), a leading provider of smart home and property operations solutions for the rental housing industry, has entered into an agreement with ADI Global Distribution, a Resideo Technologies, Inc. company, to serve as its preferred distribution partner.
A leading distributor of security, AV and low-voltage products, ADI's expansive network allows for efficient and timely order fulfillment for SmartRent’s 500+ rental housing customers, fortifying the Company’s inventory and distribution activities, and enabling it to streamline inventory management and enhance product availability.
“Demand for our solutions remains robust, and it’s imperative that we are able to meet the needs of our customers while continuing to prioritize the innovation and product enhancements that keep us at the forefront of the industry,” said SmartRent CEO Lucas Haldeman. “ADI is one of the most trusted names in the space, and we are proud to partner with them to meet our fulfillment needs and exceed customer expectations. This expanded relationship with ADI strengthens our overall partnership with Resideo.”
ADI was selected for its best-in-class operations, extensive product portfolio and local inventory availability. ADI has been supplying SmartRent with more than 100,000 Resideo thermostats per year, and this agreement will expand across the full product offering. In addition to prompt order fulfillment, the multiyear agreement provides SmartRent with needed hardware on demand while reducing its cash investment in inventory. Over time, SmartRent anticipates the decrease in on hand inventory will increase its cash balances.
"ADI is committed to serving as the indispensable partner of choice for our customers," said Rob Aarnes, President of ADI Global Distribution. "We're excited to expand upon our relationship with SmartRent to help them navigate their product needs and drive toward long-term business goals, while also resulting in incremental revenue growth for ADI."
Founded in 2017, SmartRent, Inc. is a leading provider of smart home and smart property solutions for the rental housing industry. The company’s unmatched platform, comprised of smart hardware and cloud-based SaaS solutions, gives operators seamless visibility and control over real estate assets, empowering them to simplify operations, automate workflows, benefit from additional revenue opportunities and deliver exceptional site team and resident experiences. SmartRent serves 15 of the top 20 multifamily owners and operators, and its solutions enable millions of users to live smarter every day.
ADI Global Distribution, a Resideo company, is a leading distributor of security, AV and low-voltage products serving more than 100,000 customers across North America, Europe, Middle East, and Africa. Leading pros rely on ADI for our wide selection of top brands, immediate product availability, knowledgeable sales staff and our product, design and support. Customers can shop ADI through its Digital Branch, mobile app and in more than 200 stocking locations. ADI solutions include Intrusion & Smart Home, Fire, Video Surveillance, Access Control & Communications, Residential AV, Pro AV, Networking, Data Communications, Power, Central Vacuum, Structured Wiring, Wire & Cable, and Tools & Hardware.
Home and Design
EasyKnock | August 17, 2023
Ribbon, powered by EasyKnock, announces today that RibbonCash – its pioneering cash offer solution – has relaunched in Atlanta and Charlotte.
As one of the pioneers of powerbuying solutions, Ribbon has considered Atlanta and Charlotte as its historical home base, driving the company’s success since its founding in 2017. Ribbon’s product reached around 2 percent of the overall closings in the Atlanta market in 2022, an achievement indicative of the appetite for homeownership.
“The EasyKnock and Ribbon teams could not be more excited to announce the return of RibbonCash to Charlotte and Atlanta,” said Jarred Kessler, CEO of EasyKnock. The Southeast in general remains competitive according to Bankrate’s Housing Heat Index. According to the index, despite price declines elsewhere in the United States, the Southeast has held steady due to comparatively affordable prices. Ribbon aims to tap into this reality for everyday homebuyers who seek ways to achieve homeownership for themselves or their family.
“We believe the Southeast maintains a culture of homeownership that withstands shifts in the market. Mortgage rates and inventory may ebb and flow, but achieving homeownership - and seeking the leading tools to compete - has not,” Kessler said.
“We continue to be bullish on Atlanta, Charlotte, and the Southeast overall.” By working with real estate agents and loan officers, and not competing with them as a direct-to-consumer offering like iBuyers, Ribbon sustains its reputation for empowering the real estate ecosystem.
EasyKnock acquired the assets of Ribbon in 2023. Both EasyKnock and Ribbon have forged strong partnerships in residential real estate by using best-in–class technology that connects consumers with loan officers, real estate agents, and other participants in the homebuying and home selling experience.
Together, Ribbon and EasyKnock are ushering in a new chapter for the real estate industry, creating a one-stop shop for financial solutions that serve homeowners, buyers, and sellers across the country.
EasyKnock is the first-to-market, technology-enabled residential sale-leaseback company in the U.S. Through innovative and accessible solutions, American homeowners who sell their property to EasyKnock can remain in their homes as renters while still getting the cash they need to pursue their financial goals. Headquartered in New York City and founded in 2016, EasyKnock has team members nationwide working to help homeowners unlock their financial freedom through non-loan programs so they can pay off debts, buy their dream home, fund a venture, and more - all while maintaining the ability to stay in their homes and communities. In 2023, EasyKnock acquired the assets of Ribbon Home and continues to offer Ribbon products to customers.