NAR’s REACH Program Invests in Proptech Platform Propy
Propy, a Silicon Valley real estate startup, announced that Second Century Ventures, a real estate technology fund backed by the National Association of REALTORS® (NAR), has invested in Propy’s proptech platform through REACH Program. This partnership will help leverage the NAR’s network of 1.3 million REALTORS® and its community of real estate and tech executives.
Propy CEO Natalia Karayaneva, said his firm is focused on “bringing automation and blockchain to real estate with its easy-to-use platform for agents, buyers, and sellers.”
Second City Ventures and NAR have had a significant role in accelerating real estate technology through innovations in e-signature, analytics, banking and financial platforms, and marketing services. By participating in the NAR REACH Program, Propy will have access to mentorship, key industry events and increased exposure, to further Propy’s goal to transform the real estate purchase process into a secure and streamlined transaction.
Propy’s platform brings together all the parties that are involved in the real estate transaction process. Propy also integrates the favorite tools of agents such as DocuSign and addresses the main cybersecurity problem of the industry – wire fraud.
CoreLogic’s LendingQB Now Integrates Income Verification, Property Tax Estimator
CoreLogic announced that its FactCheck income calculation and analysis solution and Property Tax Estimator report are now available on the LendingQB® Loan Origination System. When combined with the previously existing CoreLogic integrations on the LendingQB LOS, Instant Merge credit report, Flood Determination services, LoanSafe reports, income verification and valuation solutions, these two new integrations provide LendingQB users with an end-to-end underwriting solution from a single provider.
FactCheck extracts borrower income data directly from source images and data sets. Once extracted, FactCheck automatically processes the borrower’s income information via a customizable rules engine, and allows underwriters to easily update calculations, document exceptions and track changes using a transparent audit log.
The solution’s Document Inventory tool automatically identifies missing documents, and the Income Finder tool automatically flags potential sources of new income. By leveraging a fixed set of rules in a repeatable, automated process, FactCheck ensures that teams of underwriters are evaluating income the same way every time, increasing efficiencies and helping reduce compliance and buy-back risks.
Property Tax Estimator is designed to significantly increase the accuracy of Loan Estimates, reduce compliance risk and improve the customer experience. By delivering highly accurate tax data early in the process, Property Tax Estimator also helps underwriters qualify the borrower’s ability to financially support all mortgage costs and improves the onboarding process for servicers. Additionally, it eliminates the need for any specialized skills required for data procurement and provides a consistent workflow process no matter the property, exemption status, county exception complexity, and loan officer tenure.
Search Portal Tracks Buyer Activities Based on School Districts
Silicon Valley-based planetRE, an enterprise cloud vendor for online real estate, has announced new enhancement to its flagship Socialite Millennial Consumer Search Portals targeted for agents and brokers. The new feature tracks in-depth Buyer Activities in the local market around seller’s home based on School Districts. Sellers who visit online wanting to sell their homes are interested in checking market pulse of the buyer demand.
Now, instead of just city and ZIP codes, the new feature will show the visitor detailed Buyer Activity, for past 90 days rendered as a heat map with tagged school districts with boundaries. The rich visualization can display school maponics with heat maps showing school areas people are searching in local market with a variety of both sell and buy side analytics.
“Consumers in most markets pay a lot of attention to schools while researching homes.” said Subrao Shenoy, CEO of planetRE. ”The new feature showing these activity graphs with school tags is a huge differentiation for consumers and a lead magnet for seller leads.”