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MMG's Bodnar: We've Been Watching This Movie All Year Bill Bodnar of the Mortgage Market Guide breaks down the jobs report, why and how it came in above expectations, and what that means just days ahead of the Fed meeting.
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CoreLogic Launches PropertyAssist to Enable Safe and Accurate Appraisal Inspections During COVID-19 Pandemic
- Friday, 24 April 2020
—New Solution Allows Appraisers to Guide Homeowners Through Necessary Steps in Inspection Process to Keep Appraisals Moving Swiftly—
IRVINE, Calif., April 24, 2020—CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today announced the availability of CoreLogic a la mode’s PropertyAssistTM solution to the appraisal community. As the coronavirus (COVID-19) pandemic continues to unfold, it’s important for appraisers and homeowners alike to stay safe during inspections. PropertyAssist helps to ensure this safety by allowing appraisers to conduct digital inspections and operate remotely. The software provides a step-by-step process for data collection, in addition to helping streamline workflow by:
- Guiding homeowners through the photo-taking process
- Filtering photo submissions to ensure they are current and specific to the property being appraised
- Automatically flowing photos and data into an appraisal report
Once an order is initiated by an appraiser within a la mode’s TOTAL platform, PropertyAssist generates a unique URL. The appraiser can then send the link to the homeowner, with simple instructions on how to collect the necessary images and inspection data. Once data is submitted by the homeowner, the information is stored securely within the appraiser’s WorkFile to assist in completing the appraisal report.
PropertyAssist can also help lenders complete existing appraisal orders that have been placed on hold due to changing lender requirements and homeowner COVID-19 concerns.
The rules and guidelines surrounding appraisals are frequently shifting. Despite concerns regarding the pandemic, inspecting homes and adhering to lending requirements is still of high importance in the housing economy. Appraisers play an important role in providing checks and balances to the housing market, especially during uncertain times when the market continues to fluctuate. Digital resources such as PropertyAssist allow appraisers to continue working and completing the home appraisals under the temporary guidelines from The Federal Housing Finance Agency and the Department of Housing and Urban Development – all while maintaining a safe distance.
“Despite the extenuating circumstances of the COVID-19 situation, we remain laser-focused on helping appraisers maintain the crucial services they provide, while also keeping them, and their clients, as safe as possible,” said Jay Shafer, executive of CoreLogic | a la mode. “PropertyAssist is an innovative yet simple way of accomplishing this, and we’re excited to offer it as a free solution for TOTAL users.”
PropertyAssist can be accessed through a la mode’s TOTAL. PropertyAssist is available starting today and can be utilized for new and existing appraisal orders.
Read more...Consolidated Analytics Launches loanDNA, Powered by Mortgage Artificial Intelligence (AI)
- Tuesday, 21 April 2020
-loanDNA Provides Critical Intelligence for Servicers and Investors to Optimize Decision Making-
Anaheim, Calif. April 9, 2020 – Consolidated Analytics, Inc., a leading provider of end-to-end mortgage solutions, today announced the launch of loanDNA. Powered by mortgage artificial intelligence (AI), loanDNA enables efficient and highly accurate cash flow projections for individual and bulk mortgage assets which will improve due diligence and servicing workflow strategy and enhance transaction pricing decisions.
loanDNA’s base-AI engine, AiCurio, leverages massive quantities of historical and current loan, property, and market data from public and private sources – and neural networks— to develop AI algorithms that can accurately project actual cash flows, defaults, and prepayments. It also automates the analysis and prioritization of loss mitigation workout strategies, which is often a tedious, time-consuming, and manual process.
“The introduction of the loanDNA solution to our clients is a timely one,” said Arvin Wijay, CEO at Consolidated Analytics. “The COVID-19 crisis rapidly changed portfolio conditions, leaving buyers and sellers anxious about mortgage prepayment speeds and early payment defaults. As a result, executive decisionmakers are pressed for time and deeply concerned with decision accuracy. loanDNA offers our clients accelerated access to data-driven and actionable portfolio intelligence that might otherwise take weeks to render.”
The loanDNA product is available as an individual analytics tool; however, its optimal use is as a paired solution with the company’s existing due diligence, servicing surveillance, loss mitigation, and default solutions.
“We believe that by pairing loanDNA with expert human capital and exceptional service, we can help the industry move beyond ‘AI as a concept’,” said Wijay. “In taking this approach, we can enable the practical application of artificial intelligence in the mortgage space… not through force but as an enabler and a best-friend to your analysts and number crunchers.”
About Consolidated Analytics, Inc.
Consolidated Analytics’ end-to-end mortgage services platform delivers value to our customers, from asset-level analyses through enterprise-wide optimization. By harnessing the power of data and technology —and by tapping into the expert insights of our multidisciplinary team— we help forward-thinking companies unlock loan and operational quality, efficiency, and performance. For more information, visit www.consolidatedanalytics.com
About loanDNA, powered by AiCurio
loanDNA leverages AiCurio’s deep learning, artificial neural net model which relies on the continuous aggregation of high quality, scrubbed data including over 104 million loan records from the past 22 years and greater than 6 billion payment records, in addition to volumes of economic, housing, and market data.
MISMO® Announces Certification Program for Remote Online Notarization
- Tuesday, 21 April 2020
WASHINGTON, D.C. (April 21, 2020) – MISMO®, the mortgage industry's standards organization, today announced a new Remote Online Notarization (RON) certification program for RON providers and mortgage industry participants.
"Digital mortgage closings – especially during this time of social distancing and state stay-at-home orders – provide a safe, fast and convenient experience for all parties involved in a real estate transaction,” said Mike Fratantoni, President of MISMO and Mortgage Bankers Association (MBA) Chief Economist and Senior Vice President of Research and Industry Technology. “Expanding the availability of RON is a priority for MBA and MISMO, and this new certification program is intended to provide comfort to lenders and others that certified vendors are complying with MISMO’s RON standards.”
The MISMO RON Software Compliance Certification Program is designed to increase adoption of RON-enabled digital mortgage closings and support the integrity and scalability of eMortgages. The program provides assurances that RON technology providers will meet a common set of standards; reduces or eliminates the burden of individual assessment, certification, and approval processes of RON providers; and gives a consistent assessment process across all providers.
Released in 2019, MISMO's RON standards provide a common set of requirements, including credential analysis, borrower identification, capturing and maintaining a recording of the notary process electronically, audio and video requirements, record storage, and audit trails.
For more information about MISMO's RON standards or to download them, visit: http://www.mismo.org/standards-and-resources/emortgage-specifications/remote-online-notarization-standards.
For more information on MISMO’s RON Software Compliance Certification Program, visit: http://www.mismo.org/education-and-certification/product/software-certification/ron-domain-description.
For information about the MBA-ALTA State Model RON Bill, visit: https://www.mba.org/audience/state-legislative-and-regulatory-resource-center/remote-online-notarization.
The release and use of MISMO standards and other resources are governed by the MISMO Intellectual Property Rights (IPR) Policy. For more information on the policy, click here.
Industry participants who have comments or questions can contact MISMO at This email address is being protected from spambots. You need JavaScript enabled to view it..
For more information about MISMO, visit www.mismo.org.
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