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Financial document automation platform Ocrolus raises $80M

Housing Wire

Ocrolus , a New York-based startup offering document processing automation for fintechs and banks, announced raising a $80 million Series C led by Fin VC, according to a press release. The Series C brings Ocrolus’ valuation over $500 million and its total funding raised to $127 million through six funding rounds.

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Total Home Valuex from CoreLogic leverages machine learning to simplify and standardize valuation

Housing Wire

One of the first steps in determining a property’s value is the use of an Automated Valuation Model (AVM). Total Home Value x (THV x ) from CoreLogic is a state-of-the-art AVM built to simplify and standardize valuation through the loan lifecycle. With that said, not every AVM is created equal.

Valuation 351
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How data and technology can combat appraisal bias

Housing Wire

It’s a problem, it’s real, it’s documentable,” said Shannon Johnson, Touchless Lending product manager at Tavant. These additional valuation options will lessen the opportunity for appraisal bias.” Tara Dugan, who works in marketing and real estate for Tavant, said that technology should focus on integrations and aggregations.

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The Coronavirus Home Valuation Test

Appraisal Buzz

Federal regulators require banks to prepare documentation that fully explores their response to potential market forces that could put stress on their institutions or the broader economic system. Without accurate collateral valuation, lenders could not properly underwrite new loans. Home Equity lending is another case in point.

Valuation 367
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Home equity lending opportunities remain despite decline in tappable equity

Housing Wire

Recent home price declines are leading to decreased tappable equity, but there are still opportunities in home equity lending, according to a report published by Home Equity Lending News. And as instant online automated approval and closing continues to elude home equity lending, attention has turned to artificial intelligence.

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The surprising future of mortgage technology

Housing Wire

Today, while the mortgage industry has the technology to support this, we’re still in the early stages of determining how it should be used. With the advances we’re seeing in Artificial Intelligence, Machine Learning and Robotic Process Automation, we have become experts at configuring our technology to meet the changing needs of lenders.

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Operational efficiency is primary motivation for lenders to adopt AI: Fannie Mae

Housing Wire

Lenders that adopt artificial intelligence (AI) or machine learning (ML) into the mortgage lending landscape want to see operational efficiency, Fannie Mae ’s mortgage lender sentiment survey showed. Top recommended AI application ideas included compliance, underwriting and property valuation.