Mortgage Tech Rundown: MoxiWorks, SimpleNexus and LemonBrew
Mortgage Tech Rundown looks at the latest news in mortgage technology, featuring new product updates, integrations and announcements.
Real estate technology platform MoxiWorks announced the launch of a new suite of products designed for luxury brokerages and their agents in the hopes of elevating client experience.
The new product line, M Suite, helps agents market their services, manage client relationships, give valuable presentations and more. According to the company, the launch kicks off with M Present, a presentation tool designed exclusively for a “luxury audience” as well as M Impress, MoxiWorks’ marketing automation solution.
“We created M Suite to address the agent’s need to differentiate their brand and customer experience with higher-end clients – something we know they care a lot about,” said York Baur, CEO of MoxiWorks. “We’re excited to see this new innovation being used by brokerages who want to use cutting-edge digital marketing to help differentiate their brokerage and their brand.
SimpleNexus, the developer of a digital mortgage platform for loan officers, borrowers, and real estate agents, announced the immediate availability of new capabilities for its product.
In a press release, the company said the product enhancements are designed to enhance mortgage originator productivity. According to SimpleNexus, its mobile and web applications updates and additions include:
● On-the-Go Price Locking via Optimal Blue: Loan originators can now lock in an interest rate from Optimal Blue at any time, from any device. The ability to quickly lock in a loan interest rate is especially critical to helping loan originators reduce fallout for applicants with tight debt-to-income ratios.● URLA Readiness: SimpleNexus has updated its tech stack to support lenders’ use of the redesigned Form 1003, also known as the Uniform Residential Loan Application (URLA). URLA support is in live production for users of select loan origination systems, and the SimpleNexus team is prepared to support additional LOS as they adopt URLA.● In-app review of DU findings: Loan originators who are licensed to use Fannie Mae’s Desktop Underwriter can review their DU findings within the SimpleNexus app. According to SimpleNexus VP of Product Shane Westra, these and other new features entered live production with SimpleNexus’ February 10 product release. Westra also shared the company’s plans to release half a dozen additional product enhancements in 2020.
“At SimpleNexus, product development begins with listening to the needs of our users,” said SimpleNexus Vice President of Product Shane Westra. “The response to these new capabilities, designed to help lenders work with ease no matter where they are, has been tremendously positive. Our product roadmap for 2020 will continue to focus on solutions that drive profitability and deliver a consumer-grade experience to all users.”
Tech-enabled matching platform LemonBrew announced it will make a nationwide expansion throughout 2020, as well as the launch of new company technology.
Currently, the company’s partner agents are top real estate agents, from national brokerages like Coldwell Banker, Century21, RE/MAX, Keller Williams and eXp Realty.
After its launch in the North Carolina and Florida markets in fall 2019, the company plans to add more partner agents, growing its current database of a couple thousand to over 50,000 by the end of 2020.
“Our goal is to provide value to both the consumer as well as the real estate agent. When considering buying a home, the two biggest questions people have are, ‘Where do I even begin?’ and, ‘How much does all this cost?,’” said LemonBrew CEO Reno Heine.
“We’ve built our platform to ease the stress and help answer those questions,” Heine said. “Not only do we match you with the best local Partner Agent, you actually get a rebate back at closing to offset some of the closing costs. It’s a win-win.”
After answering a series of questions on the LemonBrew platform, the buyer is matched with a local agent. This match is based on location, budget, property type and other sales history metrics, such as how quickly that agent is able to find their client a home.
LemonBrew’s algorithm presents the buyer with profiles of the top three rated agents and lets the homebuyer choose who to work with. This is what the company calls a Match.
The buyer also receives a commission rebate at closing from their agent, which the company said can save the buyer thousands of dollars.
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