REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
PRnewswire | April 06, 2023
Nuvolo, the world's fastest-growing workplace software company, announced its Real Estate Transaction Management application as part of their Sweden Release. With the addition of this application, Nuvolo Connected Workplace is the only solution on the market that is fully equipped to manage the entire lifecycle of both leased and owned properties on the same platform.
Real Estate Transaction Management seamlessly connects with the existing Real Estate Asset Management and Portfolio Management applications to provide users with an integrated experience when managing their properties. Organizations will be able to
Centralize all portfolio and property information
Create and manage real estate Initiatives based on company-wide strategy
Execute real estate transactions from start to finish
Track critical dates and manage payments
Ensure ASC 842 and IFRS 16 compliance
Analyze portfolio health based on costs and actual space utilization
"An organization's Real Estate Portfolio is typically one of its most valuable assets, and one of its largest expenses. Our clients require a solution to proactively manage their portfolio to ensure they can balance supply and demand, as well as provide a compelling work environment for their team members," said Chief Product Officer, Jim Wilton. "The release of our Real Estate product provides a truly integrated solution on a single platform. This gives our clients the ability to connect their real estate strategy with their organization's overall strategy."
This new application is part of Nuvolo's standard release cycle, which also includes several new capabilities and user experience improvements across all product lines. Nuvolo is dedicated to providing customers with continual value and has invested additional resources to accelerate specific projects. These will be available in an off-cycle release (Sweden+) scheduled for Summer 2023.
About Nuvolo
Nuvolo is the global leader in modern connected workplace solutions, built on ServiceNow. Nuvolo provides a single platform to manage all people, physical locations, assets, and work across the business. Industries served include healthcare, life sciences, retail, public sector, higher education, technology, financial services, and enterprise. Nuvolo is headquartered in Wellesley, M.A., with a workforce located throughout North America and Europe.
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REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
PRnewswire | May 05, 2023
On April 19, 2023,a successful acquisition by Millennium Trust Company, a leading provider of health, wealth, retirement, and benefits solutions. In this strategic move, Accruit is excited to bring real estate 1031 exchange service solutions to over 5 million Millennium Trust clients holding over $55 billion in assets under custody.
After an extensive process and in-depth evaluation of numerous companies, Accruit found the right match in Millennium Trust. For over 20 years, Millennium Trust has provided access to and custody solutions for alternative asset investments, including real estate, making the company and its existing clients a great fit for Accruit's real estate 1031 exchange services.
"As we looked at how to best serve our current clients and grow our business, finding a company with strategic, like-minded values and service, which we found in Millennium Trust, was the right move," said Brent Abrahm, CEO and Founder of Accruit. "This acquisition isn't about slowing down, it's about accelerating our growth and opportunities, and extending our reach to over 5 million potential clients."
As a 1031 exchange Qualified Intermediary and a technology solution provider, Accruit holds a unique position in the marketplace, making it an attractive extension of the solutions Millennium Trust currently offers clients. Accruit's patented 1031 exchange workflow technology, Exchange Manager ProSM, streamlines the 1031 exchange process through embedded controls, automated notifications, custom exchange agreement and document creation, and digital execution via electronic signatures, making it simple and efficient.
"Being part of Millennium Trust allows Accruit to exponentially expand our footprint and provide exceptional service to more people looking to maximize their financial wellbeing," said Steven Holtkamp, Managing Director, and CFO of Accruit.
About Accruit Holdings
Accruit Holdings boasts over 20 years in the 1031 exchange industry. Through our leading independent, national Qualified Intermediary, we provide 1031 exchange services across the U.S. and specialize in all types of exchanges from forward, reverse, and build-to-suit/improvement, to specialty "non-safe harbor" reverse exchanges. We revolutionize the industry through our patented 1031 exchange workflow software by offering both SaaS and back-office solutions to the real estate marketplace. Learn more at www.accruitholdings.com
About Millennium Trust Company
Millennium Trust Company solves important business challenges through innovative financial wellness solutions that help people plan, save and invest. With clients holding more than $55 billion in assets under custody, we are committed to using our decades of expertise and strong partnership with the financial community to empower employers, advisors and institutions to help people achieve short-term and long-term financial security. Learn more about Millennium Trust at www.mtrustcompany.com.
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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.
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