REAL ESTATE INVESTMENT, MORTGAGE AND LENDING
Businesswire | May 02, 2023
Tavant, Silicon Valley’s leading digital lending solutions provider, today announced the launch of a highly anticipated new product, Asset Analysis, to Touchless Lending®, their AI-powered digital lending platform. With this addition, Touchless Lending will further solidify itself as the most comprehensive automated underwriting solution available to mortgage lenders by providing coverage over all four major underwriting components, including Income, Credit, Collateral, and soon Asset Analysis. Touchless Lending Asset Analysis is in the near-final stages of production and will be available in-market by the end of June 2023.
“This upcoming launch of Touchless Lending Asset Analysis will perfectly complement our currently available underwriting products – Document, Income, Credit, Collateral, and Decision Analysis – and put Tavant one step closer to achieving our goal of enabling straight-through processing and fully automated underwriting for mortgage providers,” said Mohammad Rashid, Head of Fintech Innovation at Tavant. “Our current Touchless Lending products reduce the cost to process and underwrite by $1000 per loan and achieve a scale of double-digit underwrites per day per underwriter. With Asset Analysis fitting in as the final piece, Touchless Lending will be capable of having even more of an impact on reducing cycle times and origination costs for lenders.”
Asset Analysis automates an underwriter’s labor-intensive process of reviewing assets and multiple bank statements, allowing them to accurately ensure that the borrower’s assets are responsibly sourced and quickly determine the likelihood that the borrower will have sufficient funds to cover down payments, closing costs, and reserves for the mortgage transaction. Asset Analysis checks for relevant loan details and document acceptability to identify and condition for large deposits or deposits from sources that are inconsistent with the loan application. Furthermore, AI and ML models are integrated into Asset Analysis to automatically review bank statement withdrawal transactions to detect, identify, and condition for anomalies, undisclosed financial transactions, or any recurring payments in the statements.
“Touchless Lending Asset Analysis will identify, calculate, then determine borrower eligibility and derive qualified income across bank statements based on the investor or program-specific requirements,” said Hemanthkumar Jambulingam, Director of Fintech Product Management at Tavant.
Touchless Lending provides straight-through mortgage processing and automated underwriting as part of the end-to-end mortgage manufacturing pipeline. Loan officers, processors, and underwriters utilize Touchless Lending’s machine-oriented, optimized workflows to engage with borrower and property data to make better decisions faster instead of relying on physical documentation and manual data entry. This one-of-a-kind solution automates the loan production process, allowing lenders to originate mortgages quicker while reducing costs and repurchasing risks. Touchless Lending also effortlessly integrates with existing systems, including client CRM, POS, and LOS.
“Tavant offers the flexibility for lenders to determine whether they want to benefit from the whole Touchless Lending automation suite or instead choose one or a few analyses independently of the others,” continued Rashid. “Even if using all that Touchless Lending has to offer is guaranteed to generate higher productivity and efficiency than using only a portion of the platform, we understand that every lender is unique, and at Tavant, we are here to help you identify the optimal path to accommodate your specific needs.”
As a leading Fintech software and solutions provider for over 20 years, Tavant proactively anticipates customer needs and adjusts accordingly to provide the right configurable solutions. Tavant's Touchless Lending® product suite, which now includes experiences not just for underwriters and processors but also for home buyers, loan officers, brokers, realtors, and more, maximizes data-driven decision-making to solve even the most complex lender and borrower challenges. Tavant's growing customer base originates one out of every three home loans in the United States.
Headquartered in Santa Clara, California, Tavant is a digital products and solutions company that provides impactful results to its customers across North America, Europe, and Asia-Pacific. Founded in 2000, the company employs over 3000 people and is a recognized top employer. Tavant is creating an AI-powered intelligent lending enterprise by reimagining customer experiences, driving operational efficiencies, and improving collaboration.
MARKET OUTLOOK, REAL ESTATE INVESTMENT
PRnewswire | April 24, 2023
Coldwell Banker Commercial®, an Anywhere (NYSE: HOUS) brand, announces the launch of their all-new website, www.cbcworldwide.com. The new website introduces new ways for commercial real estate users and investors to search for property as well as introduces a new experience for Coldwell Banker Commercial clients and affiliated professionals as they work on transactions. The new search features and tools are housed within an easy to navigate user experience.
"The new Coldwell Banker Commercial website reflects the future of the company and completes our global rebrand," said David Marine, chief marketing officer of Coldwell Banker Commercial. "We developed this site with the goal of creating a seamless suite of tools that will connect our professionals and allow them to deliver value with just a few clicks. Since our founding in 1906, we have been at the forefront of the commercial real estate industry and with the launch of this new website, we will reaffirm our leadership position."
The new site aims to educate and reinforce the differentiating qualities of the Coldwell Banker Commercial brand. Exclusive to the Coldwell Banker Commercial affiliated brokers and professionals, the new site will offer seamless accessibility and customization, allowing these individuals to provide the best possible service to their clients. Highlights include a personalized dashboard that will allow for lead capture and direct communication in a private deal room, analytics on one's individual listing(s) as well as the ability to edit listings directly on the website.
Clients and individuals will also have an enhanced visitor experience. They will be able to create their own accounts on the website and setup specific search alerts and notifications based on property type, geographic area and/or industry and interact directly through the website with the Coldwell Banker Commercial affiliated professionals.
"The Coldwell Banker Commercial brand has always been a leader in real estate, we have been pathfinders since 1906," said Dan Spiegel, SIOR, senior vice president and managing director, Coldwell Banker Commercial. "We will do whatever it takes to ensure that Coldwell Banker Commercial affiliated professionals have access to innovative tools and technology to create exceptional experiences for their clients. Our new website enables our highly collaborative community of professionals to work together with each other and their clients, because when we work together, we win together."
In addition, the site will feature an updated news section called Viewpoints, where the brand publishes market outlook reports and articles about trending CRE topics, as well as host the brand's popular podcast – CRE with CBC Worldwide, the Coldwell Banker Commercial Podcast.
About Coldwell Banker Commercial
The Coldwell Banker Commercial® brand provides commercial real estate solutions serving the needs of owners and occupiers in the leasing, acquisition and disposition of all property types. With a collaborative network of independently owned and operated affiliates, the Coldwell Banker Commercial system comprises almost 200 offices and more than 3,000 affiliated professionals throughout the U.S. and internationally. For additional information, visit www.cbcworldwide.com.
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.