DS News

» VISIT US ONLINE @ DSNEWS.COM 65 COVER STORY INDUSTRY INSIGHT INDUSTRY INSIGHT INDUSTRY INSIGHT INDUSTRY INSIGHT APIs accessible via the internet that can allow a coder to reach out and get just about any kind of information they need. Security is built in. Data integrity is a function of the standards and protocols created by the API developer. is has contributed to a shift from software application development to platform development, where the platform user connects to various other necessary systems via APIs to get the information required to complete the work. As a consequence of this, we're seeing more partnerships where platform providers are gaining access to systems operated by third parties that already work with lenders or servicers. is means that users of the platform don't have to buy or install software from the third party anymore. ey can just connect it to their existing platform, whether that be an LOS, a servicing platform or an asset management platform. What does this suggest for the future? We think it means that platform developers have to do a better job of finding, vetting and connecting to the applications that their users need. It has now become a primary driver of their customer's satisfaction. e companies that do it best will be most successful. It also means that more users from different parts of the industry are likely to crowd onto the best platforms, regardless of who those systems were originally designed to serve. We're seeing that now with some of our urban revitalization efforts. We're working with asset managers, as usual, but now we're also making room for investors, lenders, field services personnel, and community-based organizations. ey don't all need their own platforms. ey just need a platform that can connect them all together to meet their mutual goals. TREND 2: DEMAND FOR MORE TRANSPARENCY e concept of the "black box" has fallen out of favor. Today, it's not good enough to just tell a party to a transaction, a business partner or a regulator that the right information is in there. You must be able to prove it. Everyone wants to know what information exists where and where it's going next. Consequently, we're seeing a big shift toward transparent platforms. In fact, I would go so far as to say that if you don't offer full transparency, your platform will struggle to get user adoption. From data we began collecting in 2015, we've seen with the launch of new software we created for transparent real estate offer management, that REO managers were seeing a significant increase in a number of important metrics related to the sale of REO properties as well as a reduction in time on the market. ese New technologies are accelerating industry processes and increasing consumer satisfaction. Catch up on the top trends that will impact the mortgage professionals this year.

• Cover