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MortgagePoint September 2023

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September 2023 » thefivestar.com 5 September 2023 M T E C H XOME JOINS FORCES WITH PLUNK ON NEW AI-POWERED ANALYTIC TOOLS D allas, Texas-based Xome, an indirect, wholly owned subsidiary of Mr. Cooper Group Inc., has announced a partnership with Plunk, an AI-powered analytics platform for residential real estate, to offer proper- ty investors AI-driven home remodel analysis. Xome Holdings LLC is an asset man- agement company that provides mortgage servicers with end-to-end asset marketing and disposition strategies, recapture solutions, and real estate and data services. Through the agreement with Plunk, real estate investors searching for an auction prop- erty on Xome.com will now be able to analyze single-family homes in greater detail leverag- ing the Plunk Remodel Value tool which offers insights on the expected valuation of proper- ties after a full-scale renovation. Buyers can also view Project Recommendations, which highlight the remodeling projects that would add the most value to a specific property. "Xome is committed to providing an informative and seamless homebuying expe- rience, and we are excited to offer even more innovative solutions and financial insights to property investors looking for the highest returns on their real estate investments," said Mike Rawls, CEO of Xome. "With these new tools, Xome clients can examine a variety of potential scenarios as they consider both the costs and value impacts of full rehab or smaller home improvement projects." The first phase of these new tools is now available on Xome.com, with expanded cover- age and enhancements currently in the works. "Plunk enables investors to make more fully-informed, confident decisions," said Brian Lent, Co-Founder and CEO of Plunk. "Xome is already one of the world's largest home search and investment property resources, and now investors have access to the best search, valuation and renovation analysis tools—all on one website." FIRSTCLOSE EQUITY INTEGRATES WITH ENCOMPASS F irstClose, a fintech provider of data and workflow solutions for mortgage and home equity lenders, has an- nounced that its home equity origination plat- form—FirstClose Equity—is now integrated with Encompass by ICE Mortgage Technology, part of ICE, a global data, technology and market infrastructure company that designs, builds and operates digital networks to connect people to opportunity. Through the new integration, Encompass users can seamlessly originate home equity lines of credit (HELOCs) and home equity loans (HELs) within their LOS and complete the application through closing process in as few as 10 days versus the industry average of 45 to 60 days. Encompass will continue to be the system of record because all data is secured through the LOS and stored there. Each call to action initi- ates a data map and an audit trail to Encompass. FirstClose's home equity solution reduces operational touchpoints to elevate the overall customer experience for borrowers. The solution also enables lenders to automate data collection, verification, and continues to order settlement services through FirstClose's existing order management module. "Home equity lending has become a go-to option for millions of homeowners and is expected to be a significant growth opportuni- ty for the foreseeable future," said Tedd Smith, CEO at FirstClose. "Our integration with ICE Mortgage's platform will give Encompass users a simple, efficient way to either enter this market or to differentiate themselves by signifi- cantly improving the customer experience that they are offering." The end-to-end platform was built modu- larly, so lenders can implement one, two, or all modules based on the approach that's right for their organization. » Point of Sale (POS): A private-label bor- rower-facing point-of-sale solution with a unique borrower experience—single sign on, workflow, and customized branding including domain that gives consumers instant online feedback on their home val- uation, available home equity, loan options, and delivers credit decisions in minutes. » Borrower Portal: A borrower portal that lets consumers provide consents, upload documents, interact with originators, select loan terms, and draw amounts. In parallel, the portal's backend is iframed into Encompass, so loan originators never leave their LOS and are rewarded with a consistent process and streamlined functionality including title decisioning via the lenders' business rules and a credit decision that leverages EPPS and Encom- pass' Dynamic Data Management (DDM) to deliver findings in minutes. » Order Management: Automated work- flows, including triggers, enable the order- ing of settlement services such as flood, title, valuation, and more. » Closing: An option to support hybrid closings and recordings that are compliant with state regulations and lender guidelines. "Our best-of-breed technology dramatical- ly accelerates decision-making and connects lenders to a broad network of preferred provid- ers with one contract, one bill, and one support team," said Craig Austin, EVP at FirstClose. "Lenders currently originating home equity products can onboard in as fast as 30 days; while new entrants can onboard in as fast as 60 days, enabling lenders to pivot and capitalize on the current market which is a bright spot for our industry." NEW CREDITXPERT PLATFORM NOW AVAILABLE TO CORELOGIC CREDCO CLIENTS C reditXpert, the predictive credit score platform, has announced a collabora- tion with CoreLogic Credco. CoreLog- ic Credco is an affiliate of global property infor- mation, analytics, and data-enabled solutions provider, CoreLogic. The new alliance allows

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