Mortgage tech news roundup: August 5

Job promotions, a free floor plan, new mobile app and more

Mortgage tech news roundup: August 5

This week, SimpleNexus, a fintech owned by nCino, has a new leader, and the latter also made some executive changes. CubiCasa will start providing a free floor plan option for its mobile floor plan scanning technology in the US. Offerpad released a new mobile app designed to simplify the home loan process for borrowers. Vontive, an embedded mortgage platform for investment real estate, reached a major milestone. The fintech homegenius has linked up with RE/MAX LLC to give its agents, brokers and owners in the US access to technology products and related services.

nCino/SimpleNexus

Ben Miller is the new CEO of SimpleNexus, a cloud-based homeownership platform acquired in January by nCino, a cloud banking and fintech company.

He replaces Cathleen Schreiner Gates, who will remain with the company as an advisor.

Miller is co-founder of SimpleNexus, which nCino acquired in January for nearly 13 million shares of its common stock and $270 million in cash.

Read more: Mortgage tech news roundup: July 29

Miller is credited with helping scale SimpleNexus into a business that serves more than 300 independent mortgage banks in the US, more than 100 banks and credit unions and over 49,000 loan originators nationally. In his new role, Miller will oversee the continued growth and expansion of SimpleNexus and driving further innovation for the home lending industry.

Parent company nCino also made other changes in its executive leadership team.

Matt Hansen was named chief product officer of nCino, overseeing its global product development and engineering. He founded SimpleNexus in 2011 and remained as its CEO for more than a decade.

Jaime Punishill is nCino’s new chief marketing officer, succeeding Jonathan Rowe, who is taking on a new strategic role after serving as CMO since 2012. Previously, he was with Lionbridge, a translation and localization company, where he was CMO for the past five years. He also served as head of brand strategy and digital marketing at financial services company TIAA and held leadership roles at Thomson Reuters and Citibank.

Clear Capital/CubiCasa

CubiCasa, a real estate software company based in Finland, will start providing a free floor plan option in the US for its mobile floor plan scanning technology.

The tech is available on the App Store and Google Play store.

CubiCasa is owned by Clear Capital, a real estate technology company with analytics and platforms that help speed up the loan decisioning process.

CubiCasa said that recent advances in its computer vision technology allow it to offer a free version in the US, with lower pricing for all products globally. The goal here is to make floor plans ubiquitous in the US.

“By offering a free version of our mobile scanning technology in the US, we’re helping potential buyers make more informed decisions, while empowering agents and sellers to market their properties more effectively and supporting a modern valuation process for both appraisers and lenders,” CubiCasa president Jeff Allen said.

Offerpad

Offerpad has released a new mobile app designed to simplify the home loan process for borrowers.

The Arizona-based company centers around a residential real estate tech-enabled platform.

Offerpad’s new mobile app provides digital tools to enable mobile interaction with the home loan process, as well as access to the company’s home loan and refinance experts.

Users can navigate the whole application process from the mobile app and online portal or toggle back and forth. They also can tap into the app to easily access loan applications, complete tasks and also securely scan, upload and e-sign documents. In addition, they can check on their loan process and communicate with an Offerpad loan officer.

Vontive

Vontive, an embedded mortgage platform for investment real estate, has reached a major milestone.

The company said it has financed more than $1.1 billion of residential properties owned by investors. Vontive originated $750 million of loans for these properties, and the company said it has a success rate of more than 90% in taking a mortgage from term sheet through closure.

Vontage enables businesses that serve real estate investors to bolt a mortgage onto their company, using a white-label, no-code product. The software lets any relevant brand start a mortgage business and enter the market in weeks, avoiding regulatory burdens, financial expense and capital-raising requirements of starting a traditional lender, the company said.

RE/MAX/homegenius

The fintech homegenius has linked up with RE/MAX LLC to give RE/MAX’s agents, brokers and owners in the US access to technology products and related services.

Read next: Offerpad CTO: 'Never stop reading and prototyping'

RE/MAX is a global real estate franchisor with more than 140,000 agents in almost 9,000 offices and a presence in more than 110 countries and territories; homegenius provides real estate services using advanced technology, data science, machine learning and artificial intelligence.

As part of the deal, RE/MAX agents, brokers and owners in the US will be able to access products and services such as the geniusprice property intelligence engine offered by homegenius Real Estate LLC, which can streamline workflow, deepen market analyses and build pipelines of qualified leads. The product also provides a personalized search for homes that meet a buyer’s specific requirements.

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