DS News

MortgagePoint September 2023

DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.

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September 2023 » thefivestar.com 11 September 2023 M T E C H tivity by 400%, decreased turn-times by at least 10 days, and an increased pull-through rate of 15%. Candor estimates the reduction in part- ners' repurchase exposure goes from 12 basis points to 1 basis point when they use the LES. "At Candor, we strive to create best-in-class technology to benefit the consumer, the lender, and the mortgage investor," Candor CEO Tom Showalter said. "The Candor Pre-Check feature is one more tool that lenders can use to improve their loan quality, become more efficient, and win in every market cycle." PRIMELENDING LAUNCHES 24- HOUR MORTGAGE APPROVAL OFFERING P rimeLending, a PlainsCapital Com- pany, has introduced 1Day Advant- EDGE, a streamlined mortgage credit approval process that provides a significant advantage in today's competitive market. With 1Day AdvantEDGE, customers can receive credit mortgage approval within 24 hours, accompanied by a $250 lender credit at closing. PrimeLending's 1Day AdvantEDGE pro- cess simplifies and expedites the mortgage application process. Once customers com- plete the online application and provide the required documentation, their application undergoes an automated data verification process. Within 24 hours, customers receive their approval letter, enabling them to pro- ceed with their home purchase. "1Day AdvantEDGE represents a signifi- cant leap forward in the mortgage industry," said Tim Elkins, PrimeLending's Chief Production Officer. "We are proud to provide our customers with a simplified and acceler- ated approval process that gives them a real advantage in today's competitive market." By responding to market demands and leveraging advanced technology, PrimeLend- ing continues to empower customers on their homeownership journey. The PrimeLending team works alongside its customers in all 50 states, helping them make home financing decisions and have a rewarding experience along the way. UNLISTEDHOMES. COM LAUNCHES CHATGPT- POWERED REAL ESTATE SEARCH ENGINE U nlistedHomes.com has launched an artificial intelligence (AI)-powered home search engine where users can search for homes using natural language. The technology is backed by ChatGPT, an AI tool developed by OpenAI. "Unlisted is thrilled to be the first real estate technology to offer ChatGPT-enabled home search to all our users," said Katie Hill, Unlisted's Founder and CEO. "This innovation aligns with our commitment to connect people and real estate in all new ways to create more opportunities for buyers, sellers, agents, and the industry as a whole." UnlistedHomes.com's search functional- ity marks a significant milestone in property search by allowing buyers to find their dream homes using conversational search terms, for example: "Show me homes with four bed- rooms and two bathrooms between $750,000 and $900,000 in Upper Arlington, Ohio." Historically, online home search engines have limited users to selecting criteria one at- tribute at a time, often requiring seven or more specifications before revealing search results. Unlisted's ChatGPT integration provides a more streamlined mechanism where users simply type a description of the home they desire into an open text box. The software then translates users' words into complex queries of UnlistedHomes.com's database of more than 121 million homes na- tionwide. The result is a list of homes curated specifically for the buyer. "Unlisted's ChatGPT integration represents one example of the immense potential of AI technology to revolutionize the real estate industry," said Henri Hegemier, Unlisted's CTO. "We're demonstrating a very practical application of large language models, helping users find their ideal homes more efficiently and intuitively than ever before." Unlisted's cloud-based software leverages AI and machine learning technology uniquely de- signed to reveal and align previously untapped real estate opportunities for buyers, sellers, real estate agents, and the industry as a whole. "Independent mortgage brokers are the core of our industry, and they're needed now more than ever. They help millions of borrowers navigate an increasingly complex economic environment." —Rick Soukoulis, Founder and CEO, ReadyPrice

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