Technology

Cherre raises $9 million to help investors buy real estate using AI

Real estate data platform closes seed funding round
Cherre, a nascent real estate data platform that uses AI to help investors identify real estate acquisition targets, just raised $9 million in seed funding to grow its business. Companies using Cherre’s platform gain access to information like property history, demographics and market comparisons, which can be used to improve their decision-making process.
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Yardi launches new portfolio management product

Machine learning and AI functions bolster standard Yardi functions to provide data-driven recommendations
Yardi is launching a new portfolio management tool for the multifamily industry targeted at CEOs, COOs, asset managers and operational managers. The Yardi Elevate Suite adds machine learning and artificial intelligence functions to Yardi’s RENTmaximizer, Matrix and Forecast Manager.
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Reverse Mortgage Funding focuses on growing TPO business

“We are 100% dedicated to this space and we’re not going anywhere.”
Founded in 2014, New York-based Reverse Mortgage Funding hasn’t been around as long as the other leading HECM lenders, but that hasn’t stopped it from staking its claim on the top lender list. To retain its foothold, RMF is diving deep into its third-party origination business, funneling sizable resources into providing a holistic service to its brokers and principal agents.
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Monday Morning Cup of Coffee: Elon Musk settles with SEC, steps down as Tesla chairman

Plus, former Ocwen exec coughs up cash for insider trading, CFPB official is blasted for racism
Securities fraud, insider trading and allegations of racism inside the CFPB – we’ve got a solid dose of drama to kick off your week. Read about the details of Elon Musk’s settlement with the SEC – and the hefty fine he and Tesla will pay to wronged investors. Plus, a former Ocwen exec pays the price for insider trading, and a CFPB official suffers serious backlash from his colleagues when racists blog posts emerge from his past.
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From HW Magazine

Creating a culture of IT security

How to boost your company’s cybersecurity efforts
The state of corporate cybersecurity is constantly in flux. With new threats emerging and multiplying quickly, the stakes are high for making sure company systems and data are always secure. According to the 2018 Cost of a Data Breach Report, the average cost of a data breach across industries and countries is $3.86 million, a 6.4% increase from 2017 and a nearly 10% net increase over the past five years. It is no surprise that business leaders are continually looking to lessen the risks.
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From HW Magazine

Buy, don’t build

Why digital lending solutions are better with a partner
In the digital age, every sort of business should offer its clients a digital experience, and lenders are absolutely no exception. Clients, including borrowers, expect to be able to interface with their lender online and at their convenience, and the elegance and ease-of-use of a digital lending experience may be what decides a borrower on where to take their business.
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Compass raises another $400 million, now valued at $4.4 billion

SoftBank invests in real estate tech company, again
Is Compass the one real estate tech startup to rule them all? The company certainly has enough money to do so. Compass announced this week that it just raised another $400 million in its Series F funding round, which reportedly values the company at $4.4 billion.
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