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.
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.
MARKET OUTLOOK,REAL ESTATE INVESTMENT
Cherre | November 10, 2022
Cherre, the leading data integration and insights platform, today announced a new partnership with Clear Capital, a national real estate valuation technology company. The partnership will allow Cherre customers to leverage Clear Capital’s expansive property analytics alongside other internal systems and application data, enabling customers to conduct more accurate modeling and better risk assessments, and identify investment opportunities more efficiently and at a lower cost.
As market demand for property investment continues, the need for timely, accurate, ready-to-use property information has become even more pronounced. By partnering, mutual customers will have seamless access to Clear Capital's complete set of property information and analytics, including insights from a wide range of residential properties and 93% of all listings in the U.S., updated daily. Additionally, Clear Capital opens the door to insights on properties that are often unattainable, thus removing the barrier to transaction information in non-disclosure states.
Erlind Dine, head of data partnerships at Cherre, said Clear Capital’s hard-to-source property insights will help provide additional value to Cherre customers. By combining Clear Capital’s comprehensive property analytics with data sources within Cherre, we’re able to make the most up to date, extensive datasets available to our customers.
“Both Clear Capital and Cherre are devoted to granting our customers the highest-quality analytics, By providing seamless integration between various platforms, customers are guaranteed accurate and robust underwriting tools that drive smarter, data-driven decisions for acquisitions and property management."
-James Marshall, director of real estate analytics products at Clear Capital
Clear Capital's data engineering and machine learning capabilities lead the valuation space, with unique approaches to sourcing, aggregating, and analyzing U.S. residential real estate to provide insight on property value with accompanying contextual data.
Cherre specializes in the ingestion, standardization, resolution, integration, and delivery of real estate data from internal, third party, and public data sources. Cherre’s growing Connections Marketplace allows customers to seamlessly connect new data sets, providing a holistic portfolio view contextualized and benchmarked against market-wide intelligence.
Cherre is the leader in real estate data and insight. They 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 headquartered in New York City.
About Clear Capital
Clear Capital is a national real estate valuation technology company with a simple purpose: to build confidence in real estate decisions to strengthen communities and improve lives. Our goal is to provide customers with a complete understanding of every U.S. property through our field valuation services and analytics tools, and improve their workflows with our platform technologies. Our commitment to excellence – wherever it leads, whatever it takes® – is embodied by our team members across four brands (Clear Capital, Clario, CubiCasa, and REO Network) and has remained steadfast in this pursuit since our first order in 2001.
REAL ESTATE TECHNOLOGY
Pacaso | November 01, 2022
Pacaso, the leading technology-enabled real estate marketplace that helps people buy and co-own a luxury second home, today launches its Pacaso Second Home Specialist Certification program that enables agents to grow their business, expand their knowledge of co-ownership and unlock exclusive benefits.
The Pacaso Second Home Specialist Certification program is an easy five-step process that includes learning co-ownership best practices via the Pacaso Agent Playbook, garnering resources and tips for sharing co-ownership with agents' networks and experiencing a live virtual tour of a Pacaso home during an overview webinar, as well as submitting a referral.
In addition to a 3% referral commission and Pacaso equity on each closed referral and additional 1% commission on resales for life, agents who complete the program will receive a Pacaso Second Home Specialist badge, free enrollment in Pacaso Access for agents ($1,000 value), and more exclusive opportunities to expand their business. Since the company's October 2020 launch, Pacaso has paid agents more than $21 million in total gross commission income (GCI).
"By taking a short time to complete our new Second Home Specialist Certification program, agents will have the knowledge they need to discuss co-ownership, as well as create further trust with their clients on home ownership options, The process is so easy to complete and sets agents' business up for growth in 2023, I cannot wait to be at the next industry conference and see agents sporting their Pacaso Second Home Specialist badge."
-Vice President of Industry Relations Marnie Blanco
The debut of the Pacaso Second Home Specialist Certification comes on the heels of the Pacaso Agent Referral Dashboard launch, which enables agents to seamlessly refer potential second home buyers, track the status of their referrals and commission, and get transparent updates on the referral every step of the way.
With the uncertainty of the market, successful agents are already creating business plans for next year. The best plans always include continued education and exploring new ways to grow their business – making this certification a 'must have' for agents. The buyers that purchase high-end second homes typically have friends that also buy high-end second homes. If you don't tell your clients about co-ownership and Pacaso, someone else will, said Jeff Kennedy, vice president of Leading Real Estate Companies of the World.
Pacaso partners closely with all interested real estate agents and brokerages to help clients buy and sell a second home. Agents earn a 3% referral commission on the share price and Pacaso equity in the form of 500 restricted stock units (RSUs), when helping clients co-own a luxury second home in destinations regardless of where they're based or licensed. Pacaso manages the entire process to make it simple for agents from scheduling tours to answering questions, or managing inspections and escrow.
The real estate industry is embracing co-ownership as Real Estate Standards Organization and its members defined co-ownership as a property type in 2021. Engel & Vӧlkers, RE/MAX, and Better Homes and Gardens® Real Estate introduced Pacaso and co-ownership to the already full-service luxury brokerages and networks, and Leading Real Estate Companies of the World® selected Pacaso for its Solutions Group program.
Pacaso® is a technology-enabled marketplace that modernizes real estate co-ownership to make owning a second home possible and enjoyable for more people. Pacaso curates luxury listings with premium amenities and high-end contemporary interior design, offers ⅛ to ½ ownership with integrated financing, and, after purchase, professionally manages the home and supports seamless resale. Co-founded by Austin Allison and Spencer Rascoff in 2020, Pacaso operates in top second home destinations around the world. Pacaso has been certified as a Great Place to Work and is recognized as one of Glassdoor's 2022 Best Places to Work.