Dallas, Texas-based Xome, indirect wholly-owned subsidiary of Mr. Cooper Group Inc., has announced a partnership with Plunk, an AI-powered analytics platform for residential real estate, to offer property investors AI-driven home remodel analysis.
Xome Holdings LLC is an asset management company that provides mortgage servicers with end-to-end asset marketing and disposition strategies, recapture solutions, and real estate and data services.
Through the agreement with Plunk, real estate investors searching for an auction property on Xome.com will now be able to analyze single-family homes in greater detail leveraging the Plunk Remodel Value tool which offers insights on the expected valuation of properties after a full-scale renovation. Buyers can also view Project Recommendations, which highlight the remodeling projects that would add the most value to a specific property.
"Xome is committed to providing an informative and seamless homebuying experience, and we are excited to offer even more innovative solutions and financial insights to property investors looking for the highest returns on their real estate investments," said Mike Rawls, CEO of Xome. "With these new tools, Xome clients can examine a variety of potential scenarios as they consider both the costs and value impacts of full rehab or smaller home improvement projects."
The first phase of these new tools is now available on Xome.com, with expanded coverage and enhancements currently in the works.
"Plunk enables investors to make more fully-informed, confident decisions," said Brian Lent, Co-Founder and CEO of Plunk. "Xome is already one of the world's largest home search and investment property resources, and now investors have access to the best search, valuation and renovation analysis tools—all on one website."
Late last year, Xome appointed James Curl as SVP and CTO, bringing more than 15 years of experience leading technology and innovation teams at major organizations such as T-Mobile and Deloitte, where he oversaw large scale digital transformation initiatives, to the position.
Xome has also partnered with the National Community Stabilization Trust (NCST) to expand access to affordable housing in the U.S. Through the program, eligible mission-driven buyers dedicated to creating more affordable housing will have exclusive first-look access to properties available for sale on Xome.com—helping them identify potential properties for revitalization. Xome’s alliance with NCST aligns with the affordable housing priorities set forth by The White House and the goal to create, preserve, and sell 100,000 properties to owner occupants and nonprofits over the next three years. Additionally, Xome and NCST will jointly support the Claims Without Conveyance of Title (CWCOT) program established by the Federal Housing Administration (FHA) to offer an exclusive 30-day first look sales period for owner occupants, government entities and HUD-approved non-profits.