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May 2023 » thefivestar.com 7 May 2023 M T E C H Touchless Lending products reduce the cost to process and underwrite by $1,000 per loan and achieve a scale of double-digit under- writes per day per underwriter. With Asset Analysis fitting in as the final piece, Touch- less Lending will be capable of having even more of an impact on reducing cycle times and origination costs for lenders." Asset Analysis automates an underwrit- er's process of reviewing assets and multiple bank statements, allowing them to 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 auto- matically review bank statement withdrawal transactions to detect, identify, and condi- tion 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 pro- gram-specific requirements," said Heman- thkumar Jambulingam, Director of Fintech Product Management at Tavant. Touchless Lending provides mortgage processing and automated underwriting as part of the end-to-end mortgage manufac- turing pipeline. Loan officers, processors, and underwriters have the ability to utilize Touchless Lending's machine-oriented, optimized workflows to engage with bor- rower data and property data to make better decisions faster instead of relying on physical documentation and manual data entry. This solution automates the loan production pro- cess, allowing lenders to originate mortgages quicker, while reducing costs and repurchas- ing risks. Touchless Lending also 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," Rashid added. "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." CUBICASA COLLABORATES WITH BRIGHT MLS ON FLOOR PLAN FUNCTIONALITY C ubiCasa, a real estate software compa- ny, has announced a collaboration with Bright MLS, a Multiple Listing Service (MLS), to offer CubiCasa's easy-to-use floor plan creation app to Bright subscribers. The collaboration will expand the use of floor plans on listings within the Bright MLS ecosystem, adding a new level of transparency to property listings and empowering home buyers to make more informed purchasing decisions. "Bright has identified visual media, including floor plans, as being critical to the success of listings, and we have invested heav- ily in innovating in the space," said Richard McDonald, VP of Business Development & Strategic Partnerships, Bright MLS. "With CubiCasa, we see an opportunity to offer subscribers a way to simplify the floor plan creation process so that listings are more effective, allowing our members to maximize the value they provide to their clients." The collaboration with Bright MLS is part of CubiCasa's MLS Partnership Program, launched in December, and marks the 11th MLS to join the growing program. The pro- gram empowers agents with free floor plans for new listings, discounted pricing for optional add-on features, and access to CubiCasa's directory of professional real estate photogra- phers who are already actively using CubiCasa. According to the National Association of Realtors (NAR), floor plans are the second most desired feature on a home listing after standard listing photos and property data. However, only a small share of home listings in the United States have floor plans today. CubiCasa's unique product offerings and the power and reach of the partnership with Bright MLS aim to change that. "We're thrilled to welcome Bright MLS to our MLS Partnership Program," said Jeff Allen, President of CubiCasa. "We're on a mission to bring floor plans to every listing in the U.S. because of the immense value it can create for an organized real estate ecosystem, "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." —Hemanthkumar Jambulingam, Director of Fintech Product Management, Tavant