Tech Bytes: CoreLogic snags mortgage firm, Revive acquires HomePrep, more
CoreLogic acquires Roostify, WARDEX adds listings tech, two renovations companies merge, Chime touts success of AI chatbot, CubiCasa partners with The MLS/CLAW.
Editor's note: Technology is a driving force in real estate. From startups to established players, tech companies are constantly innovating, growing and forging partnerships. Here we highlight some of the latest news about the companies that help power the industry.
CoreLogic acquires mortgage tech firm
CoreLogic has acquired Roostify, a leading digital mortgage technology provider.
In a news release, CoreLogic noted that by integrating Roostify's digital mortgage technology platform with its property data, clients will gain critical information about borrowers and properties at the beginning of the loan process, saving both time and money.
"We believe that this is an important transaction for the industry. From inception, Roostify's mission has been to accelerate and streamline the home lending journey. Bringing together the power of CoreLogic's data and analytics suite with the Roostify digital lending platform allows us to accelerate the journey towards a truly data-driven digital origination experience in one single platform," said Roostify Co-founder and CEO Rajesh Bhat.
Jay Kingsley, president of Mortgage Solutions at CoreLogic, said the company is "committed to driving innovation throughout the mortgage manufacturing process."
"We sit on an incredible amount of data, analytics and essential workflow solutions that, when properly integrated into the loan lifecycle, can deliver a better mortgage experience for borrowers as well as lenders. The Roostify acquisition will unlock our ability to quickly execute on this mission," Kingsley said.
WARDEX adds new tech to its platform
The Western Arizona Realtors Data Exchange (WARDEX) announced that it's incorporating artificial intelligence technology into its MLS platform.
The MLS, which serves two Realtor associations in Western Arizona, is implementing Restb.ai computer vision technology and advanced tags which will streamline the listing input process, according to a news release. The result should make it easier for members to add listings, improving efficiency.
The new technology analyzes each posted image and automatically spots interior and exterior features, architectural styles and room types. It also makes the data ADA compliant.
"The ability for us to help ensure data is ADA-compliant for both our members and consumers is a critical need," said Kim Everett, CEO of WARDEX. "We added a benefit to our members by improving data accuracy and saving them time during the listing entry process, a win-win."
Revive acquires HomePrep
Revive, which helps homeowners and home flippers with presale renovations, has acquired HomePrep, which is also in the home renovation industry.
The company also announced that HomePrep founder Josh Snyder will head its new Mid-Atlantic Operations as Revive establishes a new East Coast headquarters. HomePrep is based in Washington, D.C.
Revive, with products now available in all 50 states, offers upfront funds and presale renovation services for homeowners to help maximize their profits from their home sales.
"The remarkable synergies between Revive and HomePrep make this merger seamless, allows us to bring on top talent with deep local knowledge and experience, gives us boots on the ground for our East Coast presence, and help us significantly expand our existing footprint in the DMV (DC, Maryland and Virginia) area," said Michael Alladawi, Revive Real Estate CEO and founder.
Chime's AI Assistant proving its value
Chime Technologies announced that it has had year-over-year success with its chatbot AI Assistant in helping increase agent productivity and boost conversion rates.
Boasting more than 93% conversational accuracy, the chatbot's ability to deliver high-quality interactions is the result of Chime's approach to consistently humanizing the AI and years of strategic product development, according to a news release.
"Four years ago, our forward-thinking product development team recognized the potential for AI to significantly impact the real estate industry and delivered a powerful and intuitive chatbot designed to help agents work smarter and not harder," said Dave Carter, vice president of marketing at Chime. "Today, we are proud of the value AI Assistant offers our customers nationwide in attracting and converting leads for increased business. We will continue to prioritize humanizing our AI to deliver high quality interactions for the benefit of agents and consumers alike."
Interest in natural language AI has spiked since the introduction of ChatGPT late last year, which has gained traction among real estate agents.
CubiCasa adds a new partner in The MLS/CLAW
CubiCasa, whose app enables agents and other users to quickly produce a floor plan using a smartphone, continues to ink deals with MLSs across the country. CubiCasa has added SoCal's The MLS/CLAW to its list of partners after announcing two other partnerships in Utah and New Mexico earlier this month.
"Advancement is essential for The MLS™, especially when it comes to technology. We're pleased to be offering easy floor plans to members as this is a key feature that clients look for during their property search. Agents can now provide their clients a more comprehensive property outlook," said The MLS/CLAW CEO Annie Ives in a news release.
The MLS/CLAW is based in Beverly Hills and serves over 16,000 agents in Southern California from downtown Los Angeles to the Pacific Coast Highway.