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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 30 March 2024 I N D U S T R Y U P D A T E NEW AMERICAN FUNDING EXPANDS PRODUCT OFFERINGS N ew American Funding (NAF) has partnered with Matic Insurance and OneSource Solutions to offer NAF Insurance and NAF Concierge solutions. These new solutions will provide insurance and home setup services to NAF customers as part of the mortgage process. To create a streamlined user experience, NAF Insur- ance and NAF Concierge are seamlessly integrated into New American Funding's customer-friendly loan process, remov- ing friction and stress from the mortgage, homebuying, and moving experience. "Our goal has always been to fully support the homeownership experi- ence for our customers. Adding these new valuable services will allow NAF to serve as a true home for our customers' entire journey," New American Funding Co-Founder and CEO Rick Arvielo said. "We're excited to be working with great partners who believe in supporting their customers as much as we do." NAF Insurance, which is powered by Matic, empowers New American Funding customers to secure homeown- ers' insurance, while NAF is processing the loan. NAF customers can also bundle flood, wind, auto, pet, life, and other per- sonal lines of insurance at the same time. Additionally, mortgage customers can work with a NAF Concierge, pow- ered by OneSource, to find local movers and set up key utilities like electricity, gas, and water. Services and support also include assistance with internet and TV services, help with smart home security systems, and much more. New American Funding is an inde- pendent mortgage lender with a servic- ing portfolio of more than 250,000 loans, representing approximately $66.1 billion in value and more than 190 locations nationwide. ZILLOW GROUP ACQUIRES CRM PROVIDER Z illow Group has entered into an agreement to acquire Follow Up Boss, a customer relationship management (CRM) system for real es- tate professionals. Follow Up Boss gives teams and agents a central hub to stay organized, engage customers, close deals and grow their production. As part of Zil- low Group, Follow Up Boss will be able to invest further in improving its product offerings, helping their clients deliver the best possible customer experience while supercharging their businesses. Follow Up Boss will remain an inde- pendent brand and will continue to build its client base as a standalone product offering while serving all existing clients, regardless of whether an agent engages with other Zillow Group platforms. "We're excited to have more re- sources to invest in new features and functionality while still delivering the great experience our clients enjoy today," Follow Up Boss Co-Founder Dan Corkill said. "Our mission remains the same—to serve top-performing real estate teams and agents by providing industry-leading technology to power their businesses. We know Zillow Group shares that commit- ment." Follow Up Boss also plans to contin- ue supporting its ecosystem of third-par- ty integration partners, enabling agent clients to keep using their preferred systems seamlessly. Additionally, Zillow Group will continue supporting third-party CRM integrations on the Zil- low Premier Agentapp so Premier Agent partners can work in whichever CRM they choose. "Follow Up Boss is beloved by agents across the industry, including many Zillow Premier Agent partners and ShowingTime+ clients. Zillow Group continues to invest in tech solutions to help agents deliver an increasingly seamless experience for our shared cus- tomers," Zillow President Susan Daimler said. "Follow Up Boss has built the best CRM for agents and teams in the indus- try, and we look forward to supporting its continued success so agents can exceed the needs of today's buyers and sellers." The acquisition purchase price includes $400 million of initial cash consideration and up to $100 million in a potential cash earnout. Follow Up Boss has approximately 100 full-time employ- ees who will join Zillow Group once the acquisition closes, including Co-Found- ers Dan Corkill and Tom Markov. WELLS FARGO AND ENTERPRISE ANNOUNCE WINNERS OF HOUSING INNOVATION CHALLENGE T he Wells Fargo Foundation and Enterprise Community Partners (Enterprise) have announced the winners of the 2023 Housing Affordabili- ty Breakthrough Challenge, a $20 million nationwide competition to find and seed innovative housing solutions. The six winning organizations will each receive between $2 million–$3 million in grants and support from peers and industry experts to scale new strategies aimed at making homes more accessible and affordable. The wide range of winning solutions include a workforce training program that prepares students for homeownership; a new way of financing housing in rural communities like the Mississippi Delta; and a new construc- tion technology that reduces the carbon footprint of multifamily buildings. "Creating true equity in the nation's housing system requires a focus on trans- formative ideas that challenge current housing practices and processes," said Stacy Spann, Head of Housing Access and Affordability Philanthropy at the Wells Fargo Foundation. "Through the Housing Affordability Breakthrough Challenge, we are intentionally lifting up solutions to serve communities that have experienced disinvestment and marginalization for far too long. And the winning group of