Marc E. Canner, Esq. is the founder of Canner Law & Associates, P.C., a Massachusetts real estate law firm Marc and his team work with buyers and sellers of real estate, as well as mortgage lenders, banks and realtors to conduct streamlined real estate closings. See Cannerlaw.com
[Op-ed] Today, homebuyers can tour homes, see the neighborhood and research the history of a property all from the comfort of their couch. Technology has streamlined the front end of the purchase process, but the actual closing remains largely stuck in the past. How can collaborative software solutions help update the closing process so that tech savvy consumers who have looked at homes and even virtually furnished them with a smartphone are confronted with an outdated process when it is time to buy?
This year’s HW Tech100 features a much more expansive landscape than ever before. Winners included heavy hitters and innovative disruptors. Even new tech players in the blockchain space are joining the party now. Other exciting developments can be seen on the identity-protection and fraud-prevention sides. But make no mistake, the name of the game in tech, these days, is lending, lending, lending.
The evolution from a paper-based process to this era of big data is astounding. Consider that according to IBM, 90% of the world’s data has been created in the last two years. The Internet of Things — your thermostat, refrigerator, even your kid’s Barbie doll — is increasing that data exponentially. For mortgage companies, that data represents a treasure trove more valuable than the gold bars stacked in the vault at the New York Federal Reserve Bank, but only if they can figure out how to harness it for their specific business. Fortunately, scores of fintech companies are ready to help.
Accurate, trustworthy valuations require taking a deeper look. That’s why it’s important to have a valuation expert independently review every valuation report and determine whether it makes sense. The most trustworthy valuation providers have a team of highly trained reviewers on staff who diligently analyze every comparable on a valuation report and ask: “Will a potential buyer consider this property similar to the subject property?”