MARKET OUTLOOK, REAL ESTATE TECHNOLOGY
Businesswire | May 30, 2023
homegenius Real Estate has unveiled an Artificial Intelligence (AI)-powered home search portal at www.homegeniusrealestate.com that provides home buyers and sellers with an unprecedented level of property intelligence about active listings, driven by the company’s homegeniusIQ technology. homegeniusIQ applies proprietary artificial intelligence harnessing image recognition and computer vision technology to analyze real estate images to assess and estimate room condition and property features.
By unlocking data from property photos, homegeniusIQ helps inform a property's value and substantially improves the home search process, allowing home buyers to conduct better searches and glean deeper insights. Its cutting-edge models can identify and assess room type, room condition and more than 50 objects inside and outside of a home that impact its value—breaking down the biggest barrier to meaningful automated real estate insights.
At homegeniusrealestate.com, users can also upload photos to search for properties that match their desired attributes, instantly translating a dream home “vision board” into an array of listings that are available on the market. All personalizations can be saved by consumers to allow them to apply their dream home requirements to any neighborhood or market, instantly.
“Artificial intelligence is poised to truly transform the way home buyers and agents buy and sell homes, and homegeniusIQ is at the leading edge of the revolution,” said Eric Ray, senior executive vice president, chief digital officer and co-head of homegenius. “By allowing home buyers to upload photos that illustrate what they’re looking for in a kitchen, bedroom, bathroom and/or family room, homegeniusIQ enables users to match their vision of a dream home to a property in the real world.”
Highlights of homegeniusIQ’s artificial intelligence, image technology:
Automatically analyzes property photos to identify and assess a home’s condition.
Identifies objects, finishes and materials that impact the potential consumer value.
Intelligently evaluates property condition to offer more accurate value estimates and refine search results.
“homegeniusIQ powers the homegenius Real Estate search, offering a totally new way to search for a home,” said Brien McMahon, senior executive vice president, chief franchise officer and co-head of homegenius. “Our proprietary AI technology makes it possible to conduct searches based on a home’s appearance and condition — far beyond what’s possible with conventional search filters — to help homebuyers find exactly what they’re looking for.”
About homegenius
homegenius Inc., a subsidiary of Radian Group Inc. (NYSE: RDN), and its family of companies combine an array of title, real estate and technology products and services into a full-service ecosystem. homegenius offers innovative experiences from search to close, enabling mortgage lenders, mortgage and real estate investors, consumers, GSEs, and real estate brokers and agents to benefit from integrated and personalized solutions leveraging advanced technology and the latest advancements in data science, machine learning and artificial intelligence. Real estate services provided by homegenius Real Estate LLC and homegenius Real Estate Inc. (collectively dba homegenius Real Estate), each a subsidiary of homegenius Inc. 7730 South Union Park Avenue, Suite 400, Midvale, UT 84047. Tel: 1-877-500-1415. homegenius Real Estate LLC and its wholly owned subsidiary are licensed in every state and the District of Columbia. For additional information on the homegenius family of companies, please visit homegenius.com.
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REAL ESTATE TECHNOLOGY, MORTGAGE AND LENDING
Globenewswire | May 19, 2023
Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) ("Voxtur" or the "Company"), a North American technology company creating a more transparent and accessible real estate lending ecosystem, is pleased to announce the signing of an exclusive platform agreement with The Mortgage Collaborative (“TMC”), America’s largest independent cooperative network for the mortgage industry that includes both community banks and non-bank lenders. Voxtur will make available to over 250 TMC members its complete digital ecosystem to support the mortgage lifecycle. More specifically, Voxtur’s mortgage asset trading platform, Blue Water, will deliver a software-as-a-service (SaaS) solution to facilitate the purchase and sale of mortgage assets, including first mortgage agency whole loans, mortgage servicing rights, second liens, and non-QM mortgages. The Blue Water platform facilitates pricing, trading, reviewing, transferring, and funding of mortgage assets and portfolios in the secondary market.
“This is a tremendous opportunity for Voxtur, TMC, and its members,” said Gary Yeoman, CEO of Voxtur. “Our mortgage asset trading platform is built to deliver high volume trading and create efficient liquidity. We have successfully deployed similar platforms and I am confident that TMC and its members will realize value.”
As the market recovers, lenders need increased revenue and liquidity. For mid to small sized lenders with small servicing portfolios, operational friction and high costs result in reduced investor demand and opportunities. Further, smaller portfolios command lower proceeds which naturally disadvantages many originators and prohibits optimum liquidity. TMC can now provide its members with the most sophisticated, efficient, and unique platform for trading asset portfolios of any size. Blue Water’s all-digital trading solution verifies critical loan data, conducts a high-level review of underwriting and investor eligibility, and offers real-time exception remediation management to minimize underwriting risk and avoid costly rep and warrant claims. Blue Water’s data transfer application does not use sampling, but instead verifies every loan file, and does so at an attractive price point.
“This is a compelling use case for our members, and I expect that we will see meaningful adoption," said David Kittle, Chairman of TMC. "These have been difficult times for so many of our members and this type of platform will provide tremendous value to support them in driving revenue and solving for liquidity needs at scale.”
The Blue Water-TMC platform is expected to go live within the next few weeks with a soft-launch at the Mortgage Bankers Association Secondary and Capital Markets Conference and Expo in New York early next week.
About The Mortgage Collaborative
Based in San Diego, California, the Mortgage Collaborative was founded in 2013 to empower mortgage lenders across the country with better financial execution, reduced costs, enhanced expertise and improved compliance, as well as helping members access the dynamic and changing consumer base in America. The cooperative is managed by its founding members, John Robbins, CMB; David Kittle, CMB; Gary Acosta, CEO of the National Association of Hispanic Real Estate Professionals (NAHREP); and Jim Park, former chair of the Asian Real Estate Association of America (AREAA). Robbins and Kittle are former chairmen of the Mortgage Bankers Association of America.
About Voxtur
Voxtur is a transformational real estate technology company that is redefining industry standards in a dynamic lending environment. The Company offers targeted data analytics to simplify tax solutions, property valuation and settlement services throughout the lending lifecycle for investors, lenders, government agencies and servicers. Voxtur's proprietary data hub and workflow platforms more accurately and efficiently value assets, originate and service loans, securitize portfolios and evaluate tax assessments. The Company serves the property lending and property tax sectors, both public and private, in the United States and Canada.
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MORTGAGE AND LENDING, ASSET MANAGEMENT
PRnewswire | June 02, 2023
Planet Home Lending, LLC, a national mortgage lender and servicer, announced the asset acquisition of retail lender Platinum Home Mortgage Corporation, Hoffman Estates, Illinois. Planet will acquire the majority of Platinum's origination staff, including more than 20 branch offices in strategic locations throughout the United States.
"We look to acquire right-sized, financially solid distributed retail companies," said Michael Dubeck, CEO and President of Planet Financial Group, parent of Planet Home Lending. "Platinum is a solid cultural fit. Its talented, highly experienced people share our commitment to delivering exceptional lending experiences supported by deep personal care for borrowers."
Planet expects to continue gaining market share through organic growth and strategic acquisitions. The Platinum acquisition brings to Planet a purchase-focused platform and high-producing branches, expanding the company's footprint in Midwest, Northwest, and West Coast markets.
Planet is now #9 on Inside Mortgage Finance's overall lender leaderboard and #4 among government loan producers.
"The move to Planet brings immediate access to improved pricing, technology, and marketing to Platinum's branches," said Platinum CEO and President Lee M. Gross. Gross will join Planet as Senior Vice President and will continue to lead the Platinum team at Planet.
"Planet's efficient platform gives us the pricing advantage of $26 billion in volume," Gross said. "In addition to agency and GSE home loans, Planet also has niche products tailored to today's tight real estate markets, including self-funded One-Time Close (OTC) construction loans as well as manufactured housing and renovation mortgage loans."
Platinum's former President and CEO Bill Giambrone, along with his brother Michael Giambrone, founded the company in 1993. Bill Giambrone's illustrious 30-year career as an independent mortgage banker includes remarkable contributions to the industry, highlighted by his service as a board member and past president of the Community Home Lenders Association.
About Planet Financial Group, LLC
Planet Financial Group, LLC, Meriden, Connecticut, is a fully integrated family of companies delivering innovative origination, servicing and asset management solutions. Through this synergistic ecosystem of products, services and technologies, Planet Financial Group provides best-in-class experiences for investors pursuing value maximization and borrowers seeking streamlined end-to-end loan lifecycle support. Planet Financial Group is the parent of Planet Home Lending, LLC and Planet Management Group, LLC, which also does business under the name Planet Renovation Capital.
About Planet Home Lending, LLC
Planet Home Lending, LLC, Meriden, Connecticut, (NMLS #17022) is an approved originator and servicer for FHA, VA and USDA, as well as a Freddie Mac and Fannie Mae Seller/Servicer, a full Ginnie Mae Issuer and approved sub-servicer and a Standard & Poor's Global Ratings- and Fitch Ratings-rated special and prime residential servicer. Planet Home Lending, LLC has been assigned a corporate family rating by Moody's Investors Service viewable at www.moodys.com. Its correspondent division offers a full suite of government, agency and niche home loans. Planet Home Lending, LLC is also a special servicer managing diverse investor portfolios. Its customized servicing solutions maximize asset recovery and optimize performance through active management at the portfolio and loan levels. Planet Home Lending, LLC is an Equal Housing Lender. For more information about Planet Home Lending, LLC,
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