Industry Watch: New software solutions from Floify and Ocrolus, bilingual support at CCM and more

CrossCountry Mortgage (CCM) announced upgraded support to Hispanic homebuyers, including the launch of a new Spanish-language loan application. CCM’s application is an extension of the company’s Hispanic Initiative, a program designed to advance homeownership in the Hispanic community. Educational tools and translation services, including translated disclosures, are available to provide Spanish-speaking borrowers with guidance on the loan process in their native language.

Intercontinental Exchange (ICE) and DeltaTerra Capital, an investment research and consulting firm focused on climate-risk analysis for institutional investors, announced a collaboration to offer climate-adjusted credit-risk analytics for residential and commercial mortgage-backed securities. The new joint offering integrates ICE’s physical climate risk data with DeltaTerra’s climate analytics, financial risk models and market data to deliver risk-impact estimates for investors and provide insights at the property, loan, deal and bond levels.

Floify announced the launch of verification of income (VOI) and verification of employment (VOE) waterfall technology. The new features within Floify’s point-of-sale solutions software will enable lenders and brokers to view the results of multiple verification reports from different providers, starting with the least expensive, rather than having to run each one individually.

Nations Lending announced the opening of its newest branch in Columbus, Ohio. The company hired Michael Farrell as senior divisional manager of affiliated partnerships. In this role, he will focus on developing relationships with real estate companies, builders and affiliated business partners to better serve the needs of customers.

Ocrolus introduced Instant, a fully automated, artificial intelligence-powered document processing tool that returns insights in seconds. Instant analyzes bank statements and other financial documents using AI to enable faster lending decisions while reducing risk. The software is offered as a complementary service to the company’s flagship Complete offering, which includes human data verification for lower quality documents. Instant and Complete can be used in tandem via the company’s web dashboard or advanced programming interface.

W. P. Carey Inc. announced that its board of directors unanimously approved a plan to exit the office assets within its portfolio by spinning off 59 office properties into a separate, publicly-traded real estate investment trust and implementing an asset-sale program to dispose of 87 office properties retained by W. P. Carey. The spinoff into a new REIT is expected to close on or around Nov. 1, while all sales are targeted for completion by January 2024.


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