Mortgage automation and decision system SpaceQuant announced that it renewed its partnership with CRE giant JLL for the fourth time.  Although the specifics sound more like a client renewal, it's still an important development not only for the company but the product category itself.

"The renewed agreement enables JLL to leverage SpaceQuant's automation technology for processing and analyzing financial performance of real estate assets underlying the $131 billion loan portfolio serviced by JLL," the company's press release stated. "In addition to expanding the share of the portfolio processed by SpaceQuant, the renewal agreement enables JLL to use SpaceQuant API connectivity to export data directly from SpaceQuant to JLL's servicing system — bypassing the usual tedious step of copy-pasting data from exported excel [sic] files."

It sounds like a vendor-client relationship rather than a partnership as the delivery of value, outside of presumed licensing fees, moves in one direction. But that aside, the importance is clear. JLL is massive and its choice in an AI-powered mortgage automation platform is a significant vote of confidence.