Residential Briefs

MBA NewsLink Staff

September 11, 2018

Fannie Mae Home Purchase Sentiment Up, No Thanks to Housing
Fannie Mae, Washington, D.C., said its Home Purchase Sentiment Index increased in August for the first time since May, edging up 1.5 points to 88.0. Fannie Mae attributed the uptick to increases in the job- and income-related components.

The Index reported the net share of Americans who said they are not concerned about losing their job increased by 15 percentage points in August, more than recovering last month's 11 percentage point decrease and offsetting decreases in the housing market components. Additionally, the net share of survey respondents who said their household income is significantly higher than it was 12 months ago gained 1 percentage point. However, the other housing components were largely negative, including the net share of survey respondents who said now is a good time to buy a home, which fell 3 percentage points, as well as the net share who said it is a good time to sell a home, which also fell 3 percentage points. Finally, the net share of respondents who said that home prices will go up in the next 12 months decreased 1 percentage point.

"Consumers are attuned to the divergence between the slowing housing market and strong macro economy," said Doug Duncan, senior vice president and chief economist with Fannie Mae. "Consumers were less optimistic this month about both home buying and home selling conditions, while perceptions of income growth and confidence about job security are at survey highs. After years of robust home price growth outpacing income growth, consumers face significant housing affordability challenges at the low end of the market."

American Financial Network Deploys Cloudvirga Nationwide
Cloudvirga, Irvine, Calif., announced deployment of its Enterprise POS to all 100 branch locations of American Financial Network, a privately held mortgage company.

The Cloudvirga Enterprise POS is a private-label digital mortgage platform that enables AFN loan officers to convert more prospects into applicants by automatically selecting, comparing and calculating fees for all loan types. Its lender workflow delivers features not available in competing platforms to help AFN reduce per-loan production expenses while improving compliance and customer satisfaction.

Equity National Title Launches Transaction Management Application
Equity National Title, Providence, R.I., launched a transaction management application that allows all parties to monitor the status of a real estate transaction in real time.

Equity National Title partnered with Salem, Mass.-based Easy Mortgage Apps in design and production of the new app. It will allow users to place orders; generate quotes; receive and share status updates and determine whether an eClosing is permissible and, if so, in what form. All functions are available to the user 24/7 and any authorized user with Internet access can access the information. Users can also upload documents (such as missing identification; buyer authorizations) and see scheduled closings, including location (and map directions) and parties expected to attend. The app also creates timelines. It is available for Apple devices.

Planet Home Lending Launches Skymore Digital Mortgage Assistant
Planet Home Lending LLC, Meriden, Conn., launched a new digital mortgage assistant, Skymore, which leverages artificial intelligence to make home loans easy, convenient and fast.

Customers apply and upload documents securely from any device, including their phones. Borrowers can share their screen with Planet mortgage loan originators or processors to get help when they need it. It securely connects to thousands of financial institutions, making it easy to provide documentation; only asks customers questions relevant to their individual situation and loan application; tracks current loan status 24/7, automatically showing next steps for the consumer; and electronically delivers disclosures and loan documents and allows digital signatures.

BNTouch, LendingQB Integrate Platforms
LendingQB, Costa Mesa, Calif., a provider of SaaS loan origination technology, and BNTouch, a mortgage business CRM and growth platform, announced an integration between their platforms.

LendingQB synchronizes data with the BNTouch CRM as the borrower's loan initiates and completes each step of the loan process, ensuring real-time consistency of data between the two platforms. Unique messaging capabilities of BNTouch allow loan officers to automatically notify their borrowers of any updates on their loan via email or SMS text messaging.

CoreLogic Adds Geospatial, Appraisal Features to Parcel ID Process
CoreLogic, Irvine, Calif., announced integration of geospatial and appraisal data validation into the parcel identification process.

The new features provide additional property granularity and verification to help ensure more accurate parcel information for property tax reporting.

Fiserv Addresses Online Account Opening, Loan Application Challenges
Fiserv Inc., Brookfield, Wis., launched Originate, a suite of products built to provide functionality and ease of use.

The first product in the suite, Originate Deposits, features a step-by-step user interface with optional ID scanning, autofill, and facial recognition to allow consumers to easily and securely open an account or initiate a loan application from a mobile device, tablet, computer or at a branch. Originate Deposits is launching now with account opening functionality, including credit cards and personal loans, and is integrated with other Fiserv digital services.

TRK Connection Adds Reverification Functionality to Insight RDM Mortgage QC Platform
TRK Connection, Salt Lake City, added functionality to its flagship QC audit platform Insight Risk & Defect Management to help lenders digitally manage the reverification process, including eSign and automated bulk document indexing.

External sources (employers, financial institutions, etc.) can electronically complete re-verification documents, eliminating the need to print and mail (or fax) outbound documents and scan and attach inbound documents while also providing a more secure method of document delivery, completion and return.

Exceleras Adds Insurance Companies to Vendor List
Exceleras, Glencoe, Ill., updated its DispoSolutions platform to add insurance companies to its list of available vendor types.

The new functionality allows users to assign properties to insurance companies and send tasks to them directly through the DispoSolutions platform. Users are advised to direct their insurance vendors to visit the Exceleras website and create an account.

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