More than a photo-taking mobile app, Inspex is a do-it-yourself inspection process developed with lenders, and has undergone prudential regulatory review to ensure the safety and soundness of the lending transaction. Xome’s approach saves time and money while recognizing the need to incorporate the tool into the overall risk management matrix. Even before the pandemic, Xome was developing an inspection app and process in concert with its clients. Inspex is currently live with one of the top ten home equity lenders and has proven to be a value add as it helps quickly serve customers with digital solutions. Early results show that consumers are seeing benefits from the app as it helps speed turn times and engages the borrower in the process.
- A DIY inspection lets homeowners perform an inspection taking photos and videos of their home in as fast as 20 minutes.
- Reduces inspection wait time by 50% with results generated three days sooner than the standard five-to-seven-day appraisal.
- Leveraging the largest access to MLS data and over 120 million detailed property records, Inspex is able to confirm the accuracy of homeowners’ responses while including date, time and location tagging on each photo to prevent fraud and inaccurate inspections
Company Website:
https://www.xomesolutions.com/
Markets Served:
Loan Origination, Servicing
Company HQ:
Dallas, TX
