Company news roundup: Zillow pairs Zestimate with Zillow Offers, SitusAMC acquires SRG and more

Landtrust Title Services, based in Chicago, has announced its expansion into Wisconsin with the addition of eight new offices. The offices will be located in the Milwaukee area, as well as Madison and Appleton. To lead the expansion, Landtrust hired Candace Liebner to serve as director of title sales for Wisconsin.

SitusAMC has acquired Street Resource Group, Inc. (SRG) and its Warehouse Loan System (WLS) platform. The acquisition expands SitusAMC’s warehouse lending technology offering, pairing WLS with SitusAMC’s existing ProMerit system. The combined offerings will support more than 60 clients representing approximately $3 trillion in loan financing during 2020. SitusAMC will retain the SRG team, and SRG Founder and CEO Stanley Street will serve as vice chairman, SitusAMC Technologies. Financial terms of the transaction were not disclosed.

Lodasoft has announced that is has added single-click submissions of loan data to both Freddie Mac and Fannie Mae’s automated underwriting systems (AUS) to its digital workflow platform. Lenders using the platform will now be able to run an application through both systems with one click to identify ideal solutions for borrowers faster.

Zillow has announced that its “Zestimate,” an estimate of a home’s market value using Zillow’s proprietary formula, now also doubles as an initial cash offer for eligible homes in more than 20 cities nationwide. The cash offer is made via Zillow Offers, the company’s online homebuying program that uses Zillow-affiliated mortgage, title and escrow services to streamline the home-selling process for homeowners who want to sell their houses completely online. The new Zestimate policy formally pairs the Zestimate, which debuted in 2006 as an informative tool for homeowners and house hunters, with Zillow Offers for the first time. This initial offer is before taxes and fees are factored in and is also subject to eligibility and accuracy of property information. The cities where the new program is effective are Atlanta; Charlotte; Colorado Springs, Colorado; Dallas; Denver; Fort Collins Colorado; Houston; Jacksonville; Las Vegas; Los Angeles; Miami; Minneapolis; Nashville; Orlando; Phoenix; Portland, Oregon; Raleigh; Riverside, California; Sacramento; San Antonio; San Diego; Tampa; and Tucson, Arizona.

Mastercard subsidiary Finicity has announced a one-touch Mortgage Verification Service (MVS). MVS allows consumers to digitally give lenders permission to data quickly and easily, so lenders can verify assets, income and employment in a single interaction with borrowers that takes seconds or minutes instead of days or weeks. The verification is accepted by both Freddie Mac and Fannie Mae. A statement from Finicity claims that the innovation will shave 8-10 days from origination process, “whie also increasing accuracy, improving profitability and creating a better experience for both lenders and borrowers”


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