REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
Businesswire | April 10, 2023
Built Technologies, one of the fastest growing construction and real estate fintech software providers in the U.S., today announced the launch of a new business unit focused on commercial property developers. This expansion will enable the development of new, purpose-built solutions designed to address the unique needs of this market. Built’s first product for commercial property developers is set to launch later in 2023.
In partnership with highly respected commercial property developers, Built Technologies is creating a configurable, cloud-based solution that will address key market challenges, including funding delays, manual processes, unexpected change orders, and maintaining an accurate view of the budget and forecast. The solution will remove friction and increase transparency and speed, enabling developers to boost productivity, reduce loss, and increase revenue and scalability.
“As economic trends shift, owners and developers can benefit from tools that identify risks, assess options, and inform decision making,” said Alex Helman, general manager, owners at Built Technologies. “Built is listening to the thousands of users collaborating within our platform as we design each solution with proactive customer input. We’re eager to partner with developers, as we can connect them to our existing network of capital providers and builders to accelerate funding, increase portfolio visibility, and enable instant collaboration.”
Built Technologies provides solutions designed to optimize financial operations within the vast construction ecosystem. To date, Built has managed over 380,000 construction projects, totaling more than $200B+ in construction volume. To partner with Built Technologies as we design our solution for developers, sign up for one of our limited partner seats today https://getbuilt.com/roles/commercial-developers.
About Built Technologies
Built is the leading provider of construction and real estate finance technology. By providing a centralized platform for all stakeholders, Built enables increased efficiency, collaboration, transparency, and business agility—with decreased risk—allowing customers to improve the way that the communities around them are built and managed. The Built platform is used by more than 270 leading North American lenders and asset managers, and thousands of developers, home builders and contractors.
MORTGAGE AND LENDING, ASSET MANAGEMENT
Businesswire | May 12, 2023
First American Data & Analytics, a leading national provider of property-centric information, risk management and valuation solutions and a division of First American Financial Corporation (NYSE: FAF), today announced that its industry-leading FraudGuard® fraud risk detection and decisioning tool now includes enhancements that help lenders reduce home equity lending and compliance risk, and further improve loan quality and increase efficiency. The new features include the integration of the First American Procision™ AVM suite and the additions of a senior-lien review module designed for home equity lending and a military status verification module.
“In today’s lending environment, reducing risk, improving loan quality and increasing underwriting productivity are top of mind for lenders, and our latest FraudGuard enhancements help our lender clients address those priorities,” said Paul W. Harris, general manager, mortgage analytics for First American Data & Analytics. “These enhancements add to FraudGuard’s already robust capabilities. Now, FraudGuard’s smart analytics provide an even more effective, intuitive solution for critical underwriting decisions in first mortgage and home equity lending.”
FraudGuard’s integration with the Procision AVM suite provides users access to automated property values to help expedite lending functions, such as underwriting and collateral reviews for first and second mortgages, as well as home equity lines of credit. The Procision AVM suite uses a state-of-the-art blended ensemble modeling approach to deliver an exceptional level of accuracy. First American Data & Analytics runs Procision AVM valuations on every residential property in the U.S. every day and the company also updates the underlying data that fuels the Procision AVM suite daily. An automated surveillance system constantly monitors both data and valuation quality, and performs extensive testing to validate the accuracy of the valuations produced by the Procision AVM suite for various property types in various geographic markets.
Senior-Lien Review and Military Status Modules Boost Lending and Fraud Risk Detection
Designed to support home equity lending, the senior-lien review module identifies ineligible first liens that could prevent a lender from moving forward with a second lien. For example, the new feature will alert a lender to a private mortgage originated within the last 12 months, first mortgages with negative amortization, balloon loans with a due date before the second lien, or a reverse mortgage. The module can also identify payment deferrals and loans in forbearance.
The military status module verifies an applicant’s status – active, retired or a survivor of military personnel – under the Servicemembers Civil Relief Act (SCRA). In addition to mortgage lending, the new module can be leveraged in credit and automobile lending. Both the senior-lien review and military status modules are available as standalone API integrations.
FraudGuard is the first fraud analytics solution accessible through the latest Encompass Partner Connect™ API platform. The integration allows lenders to leverage automation to systematically trigger FraudGuard reports and analysis based on customizable business rules.
About First American Data & Analytics
First American Data & Analytics, a division of First American Financial Corporation, is a national provider of property-centric information, risk management and valuation solutions. First American maintains and curates the industry’s largest property and ownership dataset that includes more than 8 billion document images. Its major platforms and products include: DataTree®, FraudGuard®, RegsData®, First American TaxSource™ and ACI®. Find out more about how First American Data & Analytics powers the real estate, mortgage and title settlement services industries with advanced decisioning solutions at www.FirstAmDNA.com.
About First American
First American Financial Corporation (NYSE: FAF) is a premier provider of title, settlement and risk solutions for real estate transactions. With its combination of financial strength and stability built over 130 years, innovative proprietary technologies, and unmatched data assets, the company is leading the digital transformation of its industry. First American also provides data products to the title industry and other third parties; valuation products and services; mortgage subservicing; home warranty products; banking, trust and wealth management services; and other related products and services. With total revenue of $7.6 billion in 2022, the company offers its products and services directly and through its agents throughout the United States and abroad. In 2023, First American was named one of the 100 Best Companies to Work For by Great Place to Work® and Fortune Magazine for the eighth consecutive year. More information about the company can be found at www.firstam.com.
MARKET OUTLOOK, REAL ESTATE TECHNOLOGY
PRweb | April 25, 2023
Today Zonda unveiled their newest product offering, Livabl, North America’s largest listing platform exclusively for new construction homes. Livabl caters to both B2B and B2C clients with the mission of creating the best home-buying experience by offering the most innovative listing and digital solutions.
Formerly BuzzBuzzHome, the reimagined and expanded listing platform has been combined with Zonda’s expansive and proprietary new home construction data along with the innovative digital engagement solutions of Zonda Virtual to create a revolutionary, unmatched home listing platform.
“This is merely the beginning for Livabl,” said Justin LaJoie, Executive Vice President and General Manager of Livabl. “As we embark on providing the most comprehensive experience for new construction homes and condominiums throughout the nation. We are excited to strengthen our partnerships with builders throughout North America, to highlight their developments and offer a specialized shopping experience for new home and condominium buyers.”
Livabl operates under these three key tenets:
Always free to list for builders
No broker conflicts
A data-backed approach that emphasizes the benefits of purchasing a new home
“Our mission is to create the best home buying experience by offering the most innovative listing solutions, made exclusively for builders,” said Jeff Meyers, CEO of Zonda.
Together with Zonda Virtual’s innovative technology of interactive floor plans, digital site maps, 3D and virtual reality home renderings, and sales engagement software, the launch of Livabl brings to life Zonda’s vision to lead the digital revolution of home buying.
“The new home shopping journey has long been fragmented,” added LaJoie. “We are thrilled to unify all builders on a single platform, specifically designed for new home buyers.”
Zonda provides data-driven housing market solutions to the homebuilding industry. From builders to building product manufacturers, mortgage clients, and multifamily executives, we work hand-in-hand with our customers to streamline access to housing data to empower smarter decisions. As a leading brand in residential construction, our mission is to advance the home building industry, because we believe better homes mean better lives and stronger communities. Together, we are building the future of housing.
Livabl is North America’s most comprehensive and accurate listing platform, exclusively for new construction homes. Our free-to-list site is dedicated to helping builders showcase their homes and communities. We provide home buyers a clean, easy-to-use interface and innovative digital solutions optimized for the new home shopping experience. We make finding a new home easy.