Using Mobile Technology To Improve Lending
Mobile technology can revolutionize the mortgage space when used well. For example, CoreLogic has launched the RealQuest App to provide real estate and mortgage professionals access to detailed property information, transaction history and neighborhood sales data while they’re in the field. Here’s how it works:
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The RealQuest App gives users access to the nation’s leading property information database and search engine, RealQuest, which covers 3,100+ counties and 99.9 percent of all U.S. property records. It is designed to provide mortgage and title companies, real estate professionals, appraisers, government agencies, investors, and telecommunication and utility companies with comprehensive property, ownership and mortgage data on their iOS devices.
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The RealQuest App allows users to:
>> Search by property address, owner name or map.
>> Identify all properties associated with an owner.
>> Check foreclosure status.
>> Validate property value.
>> Confirm property ownership.
>> Research property transaction history.
>> Compare nearby sales.
“Purchase originations are being forecasted to reach more than $1 trillion this year, with one in three new mortgages expected to be made to Millennials. Given the growth of Millennial household formation and their technology preferences, it’s critical for mortgage professionals, real estate agents, appraisers and investors to have cutting-edge, on-the-go technology that gives them a competitive edge,” said Shaleen Khatod, senior vice president of Data Solutions at CoreLogic. “With the RealQuest App, they can access national property, owner and mortgage data and insights that will help them seize more opportunities whenever and wherever they are.”
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The RealQuest App is an extension of the New RealQuest desktop version, which, in addition to the features available in the app, includes Building Permit Reports to validate home improvements and Homeowners Association Reports to provide detailed HOA information.
The app is available for download in the Apple App Store. To use it, mortgage and real estate professionals must be subscribed to the New RealQuest.
About The Author
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.
