Mobile Property Inspection Technology Emerges

Accurate Group, a provider of technology-driven real estate appraisal, title data, analytics and e-closing solutions, today announced the next-gen release of its market-leading mobile app for property inspections. The GroundWorks app is the first of its kind in the industry, combining a crowdsourcing model, localized expertise and mobile technology to accelerate the delivery of more accurate interior and exterior property condition reports.

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The application connects Accurate Group’s nationwide network of pre-screened real estate property inspectors with lenders and servicers requesting property inspections. The app empowers inspectors with the ability to review, accept and respond to requests for property condition reports from any iOS or Android mobile device. Property inspectors in the GroundWorks network benefit from more business and a robust set of mobile tools for creating and delivering accurate property condition reports.

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Banks, mortgage lenders, loan servicers and credit unions benefit from faster turnaround on property inspection requests, plus the increased accuracy and insight that only a local, on-the-ground property inspector can deliver.

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The app enables local property inspectors to respond to incoming requests for property condition reports, use built-in GPS technology to pinpoint property location and leverage integrated camera support and sketch tools to capture property details. The app also allows inspectors to instantly capture relevant property specifications – essentially building the property condition report in real-time, all with the GroundWorks app. This ensures timely, accurate details are captured and delivered.

“Real estate lenders and servicers are always looking for ways to lower the cost per loan without sacrificing quality, accuracy and compliance. Accurate Group is leading the industry by applying the latest technologies – mobile, crowdsourcing, automation – to accelerate and improve appraisal management and valuation processes,” stated Scott Waxman, chief appraiser and president of Accurate Group’s ValueNet and GroundWorks divisions. “GroundWorks is changing the game in the real estate industry – we’re raising the bar on both interior and exterior property inspection turnaround times and delivering the level of accuracy that only local, on-the-ground expertise can deliver.”

Congressional Bank Automates Forecasting

Congressional Bank has selected Alight Mortgage Lending for continuous reforecasting. Alight Mortgage Lending gives depository and commercial bank CEOs, firm owners and their teams the ability to see the financial impact of decisions, before they’re made. Alight connects to the general ledger and pulls data from loan origination systems and capital market providers so that banks can run unlimited what-if scenarios and see the financial and operational impact of changes ripple through the entire enterprise to financials— including P&L, balance sheet and cash flow.

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Industry veteran Mike McAuley of Garrett McAuley & Co., a banking consulting firm that works with lenders to increase revenues, control costs and manage risk, introduced Congressional Bank’s founder, John Lane, to the team at Alight. “We endorse Alight for providing strong financial forecasting, modeling, and business planning to mortgage lenders,” McAuley said, “And we knew Alight could help Congressional in achieving its vision moving forward.”

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“We’re always thinking about where we want to be 2-3 years out and how to move the team in that direction,” said John Lane, Founder & Executive Vice Chairman of Congressional Bank, and Director of Residential & Community Lending. “Alight can help us integrate scenario analysis into decision making so that we may continue to professionalize our financial forecasting and reporting, and achieve our plans for growth and continued profitability.”

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Alight Mortgage Lending is cloud-based, accessible from anywhere, anytime and from any device, allowing management to optimize operations and make decisions in real time, even in changing markets.

Lender Turns To Technology To Do Forecasting

Compass Mortgage Inc. has selected Alight Mortgage Lending for continuous reforecasting. Alight Mortgage Lending, a cloud-based application accessible from anywhere, anytime and from any device, gives mortgage bank CEOs, firm owners and their teams the ability to see the financial impact of decisions, before they’re made.

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Built specifically for mortgage banking, Alight Mortgage Lending provides executives the information they need to forecast financial results, optimize operations and make decisions in real time, even in changing markets.

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“Alight’s multiple scenario and what-if analysis capabilities will help us be more proactive—rather than reactive—in managing our company and help improve the accuracy of our long-term cash flow projections, breakeven analyses and measurement of warehouse covenants,” said Kevin Williamson, President, Compass Mortgage.

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Alight Mortgage Lending connects to the general ledger and pulls data from loan origination systems and capital market providers so that lenders are able to run unlimited what-if scenarios and see the impact of decisions ripple throughout the enterprise to financials—including cash flow, P&L and the balance sheet.

“We are delighted to be working with Compass Mortgage in helping them continue to grow organically, both in branch expansion and new business segments,“ said Jared Huff, Managing Director, Alight Financial Services. “Our applications enhance the usage of data for more accurate budgeting and forecasting and will provide Compass more meaningful financials for management and support of annualized growth objectives and new business channels.”

Alight, Inc. is a provider of industry-specific, cloud-based applications that give customers the power to see the financial impact of every decision, before they make it. Alight works with firms in mining, mortgage banking and other industries.

Using Analytics To Increase Volume And Lower Cost

Mortgage Peer Network has completed an integration that adds peer-based analytics to LendingQB’s cloud-based mortgage loan origination system (LOS). The two companies have joined forces to help lenders generate more business and provide them with peer-based performance metrics that enable a more efficient and intelligent lending operation.

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Increased regulation and compliance have dramatically increased the costs of origination and hampered the efficiency of mortgage lenders, according to studies released by the Mortgage Bankers Association. Mortgage Peer Network is an innovative tool that helps lenders provide an enhanced consumer experience using milestone-based consumer survey feedback and leverages consumers’ existing social networks to gain additional repeat, cross-sell and referral business. Mortgage Peer Network provides lenders with peer-based performance dashboards and reporting to help identify areas in the production process that can be streamlined, resulting in lower origination costs.

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By integrating Mortgage Peer Network with the LendingQB LOS, lenders gain a method for monitoring their performance and measuring the effectiveness of their operations in comparison to similar lenders. Mortgage Peer Network analyzes performance data generated by LendingQB and enables lenders to select specific peer criteria to provide insight into the true cost and efficiency of their services.

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“Through this partnership, LendingQB customers can join Mortgage Peer Network without the challenge of creating data extracts or interfaces. It is a hands-free setup process for the lender,” said Dave Demster, Managing Partner of Mortgage Peer Network. “Mortgage Peer Network effectively becomes an extension of LendingQB’s overall LOS value proposition and helps lenders of all sizes drive new business.”

“Aligning with Mortgage Peer Network delivers a truly unique value proposition for our customers,” said Tim Nguyen, President of LendingQB. “In the past, only larger lenders could afford to go through the process of integration, implementation and customization that is typical of a solution like this, and even then, it was typically many months before the system was usable. Through this relationship, LendingQB clients will be integrated on the very first day they sign up and will begin to receive Mortgage Peer Network benefits shortly thereafter. Mortgage Peer Network is a solution that will help all our customers.”

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A Closer Look At Last Month’s Trends

The Data & Analytics division of Black Knight Financial Services, Inc. reports the following “first look” at July 2016 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 4.51%
Month-over-month change: 4.78%
Year-over-year change: -3.38%

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Total U.S. foreclosure pre-sale inventory rate: 1.09%
Month-over-month change: -1.68%
Year-over-year change: -28.36%

Total U.S. foreclosure starts: 61,300
Month-over-month change: -11.54%
Year-over-year change: -14.27%

Monthly Prepayment Rate (SMM): 1.26%
Month-over-month change: -11.98%
Year-over-year change: -1.00%

Foreclosure Sales as % of 90+: 1.99%
Month-over-month change: -13.65%
Year-over-year change: 1.05%

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Number of properties that are 30 or more days past due, but not in foreclosure: 2,286,000
Month-over-month change: 108,000
Year-over-year change: -70,000

Number of properties that are 90 or more days past due, but not in foreclosure: 695,000
Month-over-month change: 3,000
Year-over-year change: -147,000

Number of properties in foreclosure pre-sale inventory: 550,000
Month-over-month change: -8,000
Year-over-year change: -214,000

Number of properties that are 30 or more days past due or in foreclosure: 2,836,000
Month-over-month change: 100,000
Year-over-year change: -284,000

Top 5 States by Non-Current* Percentage 
Mississippi:      11.67%
Louisiana:        9.63%
New Jersey:      8.95%
West Virginia:  8.34%
Alabama:         8.21%

Bottom 5 States by Non-Current* Percentage 
South Dakota: 3.13%
Montana:         3.13%
Minnesota:       2.92%
Colorado:         2.71%
North Dakota: 2.56%

Top 5 States by 90+ Days Delinquent Percentage 
Mississippi:      3.56%
Louisiana:        2.69%
Alabama:         2.45%
Arkansas:         2.06%
Tennessee:       2.04%

Top 5 States by 6-Month Improvement in Non-Current* Percentage
Nevada:           -17.28%
Nebraska:         -15.41%
Florida:              -15.33%
Washington:     -15.13%
Oregon:           -14.91%

Top 5 States by 6-Month Deterioration in Non-Current* Percentage
North Dakota:  6.21%
Alaska:             4.72%
Wyoming:        2.27%
Louisiana:        -8.21%
Vermont:         -9.23%

*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.


  1. Totals are extrapolated based on Black Knight Financial Services’ loan-level database of mortgage assets.
  2. All whole numbers are rounded to the nearest thousand, except foreclosure starts, which are rounded to the nearest hundred.

For a more detailed view of this month’s “first look” data, please visit the Black Knight newsroom at

The company will provide a more in-depth review of this data in its monthly Mortgage Monitor report, which includes an analysis of data supplemented by detailed charts and graphs that reflect trend and point-in-time observations. The Mortgage Monitor report will be available online at  by Sept. 6, 2016.

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CoreLogic Emphasizes New Analytics Approach

CoreLogic has expanded its business relationship with ID Analytics to apply applicant identity risk assessment and verification to property rental and leasing. This new service expands CoreLogic Rental Property Solutions’ capabilities by helping property owners and managers accurately assess the likelihood that an application will result in fraud.

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Property owners and managers have long been able to trust the industry-leading Rental Property Solutions resident statistical screening to help make sound leasing decisions. The addition of ID Score expands access to timely, cross-industry consumer information that can help verify applicant identity and whether a history of potentially fraudulent behavior exists.

“This collaboration is significant,” said Richard Leurig, senior vice president, Rental Property Solutions. “By integrating identity verification into our applicant workflow solution, our clients will be able to access broader and deeper information that not only predicts the likelihood a resident will fulfill their lease obligations, but also helps them avoid doing business with applicants who misrepresent themselves. It builds on our ongoing commitment to deliver data driven insights to power workflow solutions our clients need to achieve exceptional business results.”

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Technology Is Always Advancing

Technology is always moving forward. For example, OpenClose, an enterprise-class, multi-channel loan origination system (LOS) provider, has released version 4.0 of OC Optics, a web-based analytics and reporting system that integrates tightly with its LenderAssist LOS platform. The enhancements provide clients with more control, added functionality, and robust editing and configuration tools that effectively customizes data analysis and reporting outputs. Here’s how it works:

OC Optics 4.0 provides detailed analytics and up-to-the-minute reporting using an easy-to-configure dashboard-level user interface, which has been significantly enhanced to empower clients with more editing and report creation tools while becoming more self-sufficient. Using OC Optics 4.0, lenders can view all metrics in a single graphical interface from multiple sources such as production, secondary marketing underwriting, processing, closing, post-closing, accounting, etc.

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The module utilizes business critical data to produce rich graphs, charts, performance management tools and more. As a result, organizations are able to execute intelligent, profitable business decisions while managing risk across the enterprise including other locations and branches.

Michael Luu, EVP of national production at Residential Bancorp, commented: “OC Optics has proven to be a critical enterprise management tool for our business. The system enables us to efficiently analyze and slice data across multiple origination channels. The extracted data helps us make better, more informed and faster decisions, and automatically deliver essential business management reports on a predefined schedule.”

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Version 4.0 of OC Optics allows permissioned users to leverage the multi-channel capability of OpenClose’s LenderAssist LOS to separately analyze various activities occurring in retail, wholesale, correspondent and consumer direct lending channels. Detailed reports can be created for any business channel as well as specific functions and processes within those channels.

“Often, important information is trapped in Excel spreadsheets located in various functional areas within an organization, which renders it either useless or onerous to make sense of for business decisions,” said Vince Furey, SVP of lending solutions at OpenClose. “One of the biggest advantages of OC Optics is that it provides clients with more autonomy and options to easily tap into information to create custom reports in the form of charts, graphs, dashboards and individual reports.”

Directly from the dashboard, users are able to extract key information and populate it into a useful reporting presentation format that provides enterprise-wide management metrics and performance reporting from all desired business areas. This provides management with the oversight and intelligence to fully understand departmental and employee productivity and shows where areas for improvement and greater profitability can be realized.

OC Optics 4.0 can be accessed via any web browser, tablet device or smart phone. The system combines highly configurable management dashboard tools that integrate seamlessly with OpenClose’s LenderAssist™ LOS to optimize the use of captured data.

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Fair Lending Analysis Does Not Have to be Complex!


Fair Lending is confusing! The biggest question most lenders have is, how do I prove to an examiner that we do not have pricing disparity?

As a leading pricing engine in this country we heard this loud and clear from our clients and found a way to organize pricing data, equalize the interest rates, demonstrate a strong compliance management system over pricing disparity and recall this information for research or an exam.

Here is how it works:

  1. You pricing engine is configured to standardize your pricing policy. It also houses the reasons why a loan was priced a certain way, based on known variables such as risk adjustments and time-price differential in market shifts.
  2. The unknown or generally undocumented variables come from the borrower decisions. This means that based on the exact same borrower, the decision that they make can result in an interest rate difference of 1%. So it only makes sense that two borrowers who are similar in financial profile could have a different rate not based on pricing disparity, but based on the decision they made. The Optimal Advantage system locks down those decisions at the time of lock in.
  3. The Fair Lending analysis is done at the time of lock in, versus waiting until the loan closes and the mistake is already made or the reasons are a mystery.
  4. The time burden for analysis is very minimal because of the structure of the best practices workflow and the use of automation.
  5. The equivalent rate feature is a patented process that automates the equalization of your borrower rates with a push of a button! As a pricing engine we have the data to mathematically make all loans equal by accounting for risk adjustments and time price differentials.
  6. Finally, the historical database is a “real time” search of what was available for your client or any other scenario during that day in history. The ability to run this search combined with the ability to run a comparable search is a time-saver in an exam.
  7. All of this combined into a best practices workflow, turns fair lending analysis into an easier task for the mortgage company by saving time, personnel, money and increased regulatory scrutiny.

The response so far for Optimal Advantage and the Patent Pending Equivalent Rate has been overwhelmingly positive from our lender clients, their examiners, and consultants. To download a Free copy of our White Paper on Equalizing Rates, which is written by Ivan Darius, PHD and David Skanderson, PHD, please scan the QR Code or go to:

To speak with Tammy directly please email her at