Crowdfunding pioneer RealtyMogul has sold proprietary machine-learning and artificial intelligence software to Hunt Real Estate Capital, GlobeSt.com has learned exclusively. The tool was developed for commercial real estate underwriting. It can comb through tens of thousands of transactions, and uses big data software to analyze the commercial real estate market. Hunt plans to use the tool throughout its commercial real estate lending business. The terms of the deal were not disclosed.
"We originally built the software to try and solve one of our key problems: we have had over 30,000 transactions submitted to us online, and we had to have a way to comb through those submissions and quickly identify transactions where we wanted to spend more time doing deeper underwriting," Jilliene Helman, CEO of RealtyMogul, tells GlobeSt.com. "We also wanted to do this by removing personal bias from the underwriting process."
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