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62 Loss Mit Tech and Services Guide SPECIAL ADVERTORIAL SECTION BRACE CORPORATE DETAILS: Los Angeles and New York City | Brace.ai COMPANY DESCRIPTION Brace is the first platform aimed at bringing the broader, end-to-end mortgage servicing suite into the 21st century. Starting with loss mitigation, Brace is building software to replace legacy and largely paper- based systems. The company is building technology with frameworks that have only become available in the last few years—applying lessons from origination and drawing further expertise from well beyond the traditional confines of the mortgage industry. What this has allowed Brace to do is something novel, but necessary: to design a product that keeps in mind the interest of each stakeholder in the mortgage lifecycle—creating better borrower experiences, better servicing and compliance workflows, and better investor outcomes. And Brace can do all of this in a way that's more cost-effective than traditional players. BUSINESS LINES, PRODUCTS & SERVICES » Digital Borrower Packet: Only loss-mitigation platform capable of providing a digital online application experience with automated bank account, pay stub, and e-sign capabilities. » Embedded OCR: Automates onboarding of bank statements, pay stubs, and mortgage-assistance applications. » Servicer Workflow: Fully-embedded workflow automation to simplify tasks related to collection, verification, and post waterfall outcomes. » Proprietary Waterfall Builder: Built from the ground up, Brace's waterfall builder, which includes an income calculator, allows for quick implementation of private waterfalls (GSE/Agency waterfalls come built-in). » Delivery Platform: SaaS (every client has their own install), web-based, mobile, and desktop. KEY BENEFITS » Enable Faster, More Reliable Borrower Communication: Omnichannel communication with automated SMS and email triggers embedded. » Dramatically Lower Servicer Costs: Brace's borrower/servicer automation platform will lower servicer costs and provide superior investor returns. » Reduce Human Errors: OCR allows for less fat- fingering, and Brace's task-management system ensures the correct actions are taken for each loss- mitigation file. » Management Reportability: Management reporting dashboard provides further insight into key performance indicators for servicers. » Auditability: Exhaustive system tracking with full visibility for management teams, investors, and auditors. COMPETITIVE ADVANTAGE The mortgage industry hasn't seen much technology innovation since the 1960s. When John F. Kennedy was president. When everything was done on paper. When there was no such thing as a computer that didn't take up half a room. What does mortgage servicing look like today? Brace's team has met so many good, hardworking people that are forced to put in place "frankensteined" solutions and workarounds to make outdated systems work for specific business and compliance needs. It's a lot of old wires, and no one knows where they go. Brace is empathetic to that. The company understands that an $11 trillion dollar asset class is a boat that's difficult to rock. It's why the status quo has persisted for well over half a century. But it's this status quo that Brace is already disrupting, because Brace believes mortgage borrowers, servicers, and investors deserve a better experience—and the old excuses for not giving them one don't cut it. Over the last few years, the industry has seen a flurry of investment in innovation for loan origination, and Brace believes servicing is deserving of this same attention. Brace can finally give borrowers a 21st century digital experience; give servicers better margins, workflows, and efficiencies; and give investors higher visibility and returns. This won't be a disruption as much as it will be a paradigm shift—one where every stakeholder in the value chain benefits. TESTIMONIAL "The whole industry has a stake in the fresh approach Brace is taking to default servicing." —Courtney Thompson, SVP of Default Mortgage Servicing, Flagstar Bank KEY PERSONNEL Eric Rachmel CEO Tamara Lewis VP of Operations Rob Brueckmann VP of Engineering Bob Carter Director of Product CONTACT INFORMATION Tamara Lewis 630.512.1757 Tamara@Brace.ai