REAL ESTATE INVESTMENT, MORTGAGE AND LENDING
PRnewswire | April 11, 2023
Indecomm, a provider of mortgage technology and services, announced today that Newfi, a technology-driven multi-channel lender, has adopted Indecomm's GeniusWorksTM. GeniusWorks combines Indecomm's proprietary automation solutions with expert mortgage talent to streamline the three most cumbersome and costly middle-office functions of the mortgage origination process: setup, processing, and underwriting.
By adopting GeniusWorks, Newfi takes its vision to reshape the home buying experience to the next level. Since GeniusWorks streamlines all workflow, processes, decisions, and tasks within the middle-office of the origination process, Newfi associates will have more time to focus on high-value customer engagement initiatives.
"Cutting-edge technology and services like GeniusWorks enable us to focus on what matters most: cultivating relationships with our home-buying customers, reducing unnecessary process burden on our staff, and driving an optimized, efficient, and cost-effective mortgage operation," said Steve Abreu, CEO at Newfi.
The GeniusWorks solution uses Indecomm's Genius suite of automation products to automate an estimated 70% of middle-office tasks and processes, reducing manual touchpoints on the part of Newfi associate, and accelerating the underwriting decision. Wherever manual intervention is needed, Indecomm's experienced staff of processors and underwriters seamlessly pick up from where automation left off.
"We are thrilled to partner with such an innovative, forward-thinking lender as Newfi," said Indecomm CEO, Rajan Nair. "Newfi is in tune with the GeniusWorks approach which delivers tangible CX gains as a result of downstream digitization, operational optimization, decision transparency, and cost control."
Indecomm launched GeniusWorks as a way for lender clients to achieve efficient, high-quality loan manufacturing while reducing the burden of vendor management and oversight. For more information about GeniusWorks, visit https://indecomm.com/genius-works
Founded more than 25 years ago, Indecomm blends intelligent automation with deep mortgage banking expertise to deliver groundbreaking mortgage innovations to the mortgage banking industry. Indecomm takes an automation-first approach, partnering with lenders, servicers, mortgage insurers, and title companies to create efficiencies at every phase of the mortgage lifecycle. Specifically, Indecomm leverage robotics process automation (RPA), supervised automation, and machine learning to tackle the industry's most complex operational challenges.
About Newfi Lending
Newfi is a multi-channel lender that is setting the standard for efficiency, transparency, and service in the mortgage marketplace. Founded by industry veterans, Newfi is committed to innovation in lending products for both consumers and mortgage brokers under the Newfi Lending brand.
BROKERAGE, REAL ESTATE INVESTMENT
Businesswire | April 17, 2023
Built Technologies, one of the fastest growing construction and real estate software providers in the U.S., has announced a strategic investment from Citi through its SPRINT program.
Citi SPRINT (“Spread Products Investment Technologies”), the strategic investing arm of Citi’s Global Spread Products division (“GSP”), is part of Citi Institutional Strategic Investments (“ISI”). Citi SPRINT focuses on incubating innovative fintech companies that provide strategic relevance and next-generation solutions to the financial markets.
Built plans to use the investment to accelerate its growth in commercial real estate (“CRE”) asset management and enable further operational and technological enhancements. Through the utilization of Built’s platform, Citi will have the opportunity to introduce digitization solutions to other lenders, developers, and borrowers in the ecosystem.
“The investment from Citi SPRINT opens a new market opportunity for Built to gain traction with one of the largest U.S. financial institutions in the real estate industry,” said Chase Gilbert, CEO and Co-founder of Built. “Citi SPRINT's investment is a testament to Built's vision and the value Built delivers to its customers. The investment presents a unique opportunity, and one that will further accelerate our market reach.”
“GSP consistently seeks to drive value and enhance our client experience through innovative digitalization efforts with industry-leading software providers,” said Mickey Bhatia, Head of Global Spread Products at Citi. “Our investment in Built Technologies extends this commitment by helping to further modernize our Financing and Securitization franchise. With this partnership, we seek to cultivate higher standards of service for our clients and the broader market.”
Citi Community Capital, another business in GSP, provides a suite of financial products to help affordable housing developers construct, rehabilitate, refinance, and acquire multifamily affordable housing across the country. It has been recognized as the number one affordable housing lender in the United States, according to Affordable Housing Finance magazine's annual ranking, for twelve consecutive years.
“Citi Community Capital is pleased to work with Built on enhancing Citi’s existing technology to better manage commercial real estate draws, expedite loan management reporting, and improve borrower experience,” said Jeremy Johnson, Co-Head of Citi Community Capital.
“Built has achieved strong growth due to its ability to help lenders achieve efficiencies, expedite revenue generation, and serve their customers more effectively,” said Katya Chupryna, Director, SPRINT. “By investing in Built and bringing their innovative solutions to Citi, we empower Citi Community Capital and other CRE lending businesses to grow faster and serve clients better,” she added.
Built Technologies’ innovative software platform streamlines the construction loan administration process by simplifying the management of funds and documentation, allowing lenders to administer their construction loans more efficiently. The company’s technology enables faster funding decisions and draws, while providing real-time transparency and visibility into the status of construction projects through Built’s CRE data model. More than 250 banks and private capital providers use Built’s cloud-based solution to create a centralized system of record and accelerate the flow of capital from lenders to borrowers, contractors, and vendors.
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 250 leading North American lenders and asset managers, and thousands of developers, home builders and contractors. To learn more, visit https://getbuilt.com/demo-request/.
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
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.
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.