Industry Briefs Sept. 2, 2021: PropLogix Gets Investment from Accel-KKR
PropLogix Secures Strategic Growth Investment from Accel-KKR
PropLogix, Sarasota, Calif., a title support company providing tech-enabled due diligence services and software for closing professionals, announced it secured investment from Accel-KKR, Menlo Park, Calif., a technology-focused private equity firm.
With this investment, PropLogix will accelerate market expansion plans, scale product development and pursue M&A opportunities. PropLogix delivers property intelligence and closing platforms designed to drive value for title agents, underwriters, homebuyers and sellers .
New American Funding Offers Refi Possible Option for Borrowers with Lower Income
New American Funding, Tustin, Calif., is now offering Freddie Mac’s Refi Possible program. Homeowners are also eligible to receive $500 credit for towards an appraisal if one is obtained.
The program requires that eligible borrowers receive a savings of at least $50 on their monthly mortgage payment and a reduction of their interest rate of at least 0.50%. The program is for fixed-rate loans only, offers and features loan limits up to the conforming limits.
First American Docutech Integrates with MortgageHippo
First American Docutech, Scottsdale, Ariz., integrated its Solex eSignature platform with MortgageHippo’s digital mortgage platform. Now, lenders can enable their borrowers to eSign mortgage disclosures via a single sign-on experience by using MortgageHippo, a consumer-centric no-code/low-code digital lending platform, and First American Docutech.
The flexibility of MortgageHippo’s no-code/low-code platform and integration of First American Docutech’s digital document workflow provides users with a more secure, faster, and cost-effective process for delivering and eSigning mortgage disclosures.
Bliss Mortgage Automates Digital Advertising with Adwerx
Bliss Mortgage LLC , Tampa, Fla., launched Adwerx’s digital advertising platform, offering full automation for each of their loan originators.
The Adwerx platform automatically creates and launches personalized brand-compliant ad campaigns for the firm and each loan originator across Facebook and Instagram, as well as premium websites. Ads feature the firm’s branding and a loan originator’s face and contact information, a methodology developed by Adwerx called FaceForward advertising. Each loan originator’s ad enables them to effortlessly build their personal brand in their local areas, reach home buyers directly, and stay top-of-mind with their referral networks.
Azimuth GRC Secures Series A Financing Led by Mosaik Partners
Azimuth GRC Inc., a Jacksonville, Fla.-based regulatory compliance software platform, secured Series A financing. Mosaik Partners, a San Francisco-based venture capital firm focused on financial technology, led the round which included other new and existing investors.
The new funds will be used to hire additional talent, further enhance the platform and expand sales and marketing efforts. Azimuth GRC also announced additions to the executive management team, including Stephen Garrett as Chief Technology Officer and Kimberly Redd as Vice President of Product Management.
Redfin Report Finds Most Affordable Locations for Teachers to Buy a Home
Redfin, Seattle, reported the five most affordable areas for teachers to purchase homes in 2020 were all located in inland California. Redfin identified these areas through an analysis of median disposable incomes for teachers in the 157 U.S. metropolitan areas where there was sufficient income data from the U.S. Bureau of Labor Statistics and sufficient housing-cost data from Redfin and other sources.
In Merced, Calif., the median teacher salary was $99,637 last year, while the median annual homeownership cost was $35,051. That means teachers there had a median disposable income of $64,586—the highest among the 157 metros in this analysis. Next came Fresno, with a median disposable income of $54,510, followed by Riverside ($51,105), Modesto ($50,950) and Bakersfield ($50,931)
In San Jose, Calif., the median teacher salary in 2020 was $90,314, while the median annual homeownership cost was $87,612. That left teachers with a median disposable income of just $2,703—the lowest among the 157 metros in this analysis. Next came Kahului, Hawaii, with a median disposable income of $5,038, followed by St. George, Utah ($6,560), Salinas, Calif. ($7,002) and Flagstaff, Ariz. ($8,388).
LenderHomePage Announces Integration with Epic LOS by Integra
LenderHomePage, Santa Ana, Calif., developer of Loanzify POS, a mortgage point-of-sale system, announced an integration with loan origination software developer Integra Software Systems.
Integra offers a browser-based LOS system for facilitating the mortgage operation from origination to closing. Combined with Integra’s sophisticated rule management system, the bi-directional integration with Loanzify POS helps lenders configure and customize their front- and back-end operations. This increases their intake capacity, expedites the loan lifecycle, helps make better-informed underwriting decisions, and increases transparency for all stakeholders.
RedfinNow Launches in Atlanta, Nashville Metros
RedfinNow announced its launch in the Atlanta and Nashville metro areas. RedfinNow is the iBuying service from Redfin.
Sellers can request a cash offer directly from Redfin and sell without the hassle of preparing their home for market or dealing with open houses and private showings. So far this year, RedfinNow has expanded to nine markets, and is now serving homeowners in 27 markets in 13 states and the District of Columbia.
Calyx Announces Path/NxtSoft Integration
Calyx, Dallas, announced its Path loan origination software is integrated with NxtSoft, a provider of API, cybersecurity and data software for banks, credit unions and other businesses.
Path is a cloud-based platform designed to simplify the loan process while still providing lenders the controls and flexibility they need to run their business. NxtSoft’s OmniConnect API-connectivity will give Path users in banks and credit unions a way to access their company’s core operating and servicing systems, accelerating closed loan onboarding and reducing re-keying errors. NXTsoft’s middleware is already integrated with the major core banking systems used by most banks and credit unions.