HELOC Lending

Black Knight Launces AI Valuation App For HELOC Lending

Posted on by TMN Editor
Black Knight introduced a new app to speed up applications for home equity lines of credit, the company announced. The app, Validate, allows borrowers to include photos of their property as part of their application. The photos are then analyzed with AI to calculate the home’s condition in real-time, speeding up the approval process. Borrowers complete a questionnaire to verify public record data and list any necessary repairs after submitting photos, Black Knight said. Photos are time-stamped and GPS verified to ensure current property condition and location are accurate. The address is then scored based on comparable properties to create a condition-adjusted valuation model. Lenders receive the property value and available equity immediately via API or PDF, saving time and…

Children Want Their Parents To Age In Place, But It’s Hurting Housing

Posted on by TMN Editor
Most Americans want their parents to age comfortably in their own homes, but it can be a challenge for both families and the housing market. Three out of four adults want their parents to be able to age in their own homes, but more than half of Gen Xers don’t feel financially prepared to assist their parents in old age, according to a new study from American Advisors Group. AAG surveyed 1,500 adults aged 40-55 who have senior parents. “The retirement savings crisis is real, and many Gen X adult children are telling us that caring for their parents will be extremely difficult and potentially unattainable,” said Eddie Herda, AAG VP of Brand Strategy. Herda said there is interest in…