NMP - July 2018 - 12

newtomarket

JULY 2018 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

12

ProxyPics App Launched for
Real-Time, On-Demand
Property Pics
ProxyPics, a
new mobile
app available
for both iOS
and Android
devices, has been launched that
allows anyone to request ondemand photos of properties,
anywhere, quickly and affordably.
With the ProxyPics new app,
anyone with a mobile phone can
take a picture of anything needed
immediately.
Once the app is installed,
users will be notified of available
jobs in their area. ProxyPics is a
life-changer for those requesting
and taking pictures. ProxyPics is
part of the gig economy
revolution, allowing everyone to
make money on their own
schedule.
"ProxyPics has the ability to
significantly change the way
transactions are performed in the
real estate industry by arming
users with almost real-time data
to speed up decision-making,"
said Luke Tomaszewski, Chief
Executive Officer of ProxyPics.
ProxyPics is a platform
designed to make region-specific
photography available to all,
leveraging GPS and digital
payment technologies to match
photo requests to the photo
takers on a global scale. It is also
set to disrupt entire industries, by
making time-sensitive, affordable
photos available on a grand
scale.
ARMCO Upgrades Its ACES
Audit Technology

ACES Risk Management
(ARMCO) has announced several
product enhancements that
improve the mortgage quality

control (QC) process for lenders
and servicers using its auditing
platform ACES Audit Technology.
The two principal
enhancements of this upgrade
include identification of exception
root causes and expanded autoresponse capabilities for ACES.
These functions use automation to
significantly reduce the number of
skilled labor hours it takes to
achieve quality goals and identify
areas that would benefit from
proactive corrective actions.
"Identifying root causes of
defects is critical to an effective
mortgage QC process because it
enables lenders to move from
reactive corrections to proactive
policy creation," said Phil McCall,
President of ARMCO. "By
automatically identifying root
causes, ACES saves lenders
months of reactive risk
management, as well as the hours
and hours of manual analysis it
would normally take to identify the
root cause."
ACES' enhanced auto-response
capabilities automatically generate
answers to questions and
scenarios that trigger loan
defects. Utilizing the multitude of
data points within the ACES
platform, ACES automatically
conducts field-to-field
comparisons of relevant loan data
and can perform complex math
equations, as is needed in cases
involving loan eligibility and
regulatory compliance. The ACES
technology systematically
determines the proper answer to
the scenarios in question. This not
only saves time, but also
increases accuracy and
consistency in the loan review
process.
"Automation and analytics will
play increasingly greater roles in

the mortgage QC process, and
as with this upgrade, ARMCO will
be leading the way in bringing
these advances to the mortgage
industry," said McCall. "Our
clients rely on us to assure the
highest quality through the
greatest process efficiency. Our
regular enhancements reinforce
our dedication to reducing risk in
the mortgage process by
leveraging technology."

alongside our military veterans
and expand their options for a
home purchase or renovation,"
said Movement Mortgage Chief
Executive Officer Casey
Crawford. "With many
homebuyers facing incredibly
tight inventories, this gives our
veterans more options, and our
Loan Officers more tools to serve
them, as they pursue the dream
of homeownership."

Movement Mortgage Targets
Veterans With Renovation
Offering

Bay Equity Launches
New E-Signing Tool

Bay Equity Home Loans has
announced the launch of BE
Express Closing, the company's
Movement Mortgage has
new e-signing platform designed
launched a new mortgage
to drastically reduce the time
product designed to help more
spent at the closing table.
U.S. military veterans purchase
"BE Express Closing turns the
and renovate their homes. The
major undertaking of manually
VA Renovation Loan, offered in
signing closing documents into a
partnership with the U.S.
virtual piece of cake," said Sue
Department of Veterans Affairs,
Melnick, Bay Equity's Chief
is designed to help veterans
Compliance and Operations
purchase and renovate a new
Officer. "Until now, home loan
home or make necessary repairs borrowers paged through a stack
through the refinance of an
of documents, affixing hundreds
existing home. Borrowers may
of signatures. They got tired,
access up to $35,000 in funds to their hand got tired. For
complete repairs and
borrowers it's just a lot easier,
renovations, plus the benefits of
and everybody's a lot happier."
a traditional VA loan, such as 100
Depending on state regulations
percent financing.
where the loan is originated, BE
Features and benefits of the
Express provides two distinct eVA Renovation Loan include the
signing options. "Full e-close"
following: Up to $35,000 in
borrowers sign their name once
repairs or renovations; finance up or twice, and the system
to 100 percent of the aspopulates the rest, while "Hybrid"
completed value of the home;
closing requires certain
can be used for purchase or
documents to be printed out and
refinance; primary residence
hand signed.
only; and a 620 minimum credit
"We're very excited about this
score.
platform coming to fruition," said
"It is a privilege to come
Bay Equity Chief Executive
Officer Brett McGovern. "It's an
even better tool to fulfill our
promise to our borrowers-do it
well, close it on time and close it
fast."


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Table of Contents for the Digital Edition of NMP - July 2018

Contents
NMP - July 2018 - Cover1
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NMP - July 2018 - Contents
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