Articles by Jessica Guerin

Realogy to roll out AI tools for real estate professionals

Real estate giant bets big on tech to woo agents
Residential real estate giant Realogy has debuted as suite of AI tools for agents and brokers that it hopes will reshape the future of real estate. At its RGX conference in Las Vegas this week, Realogy introduced a number of innovative tools that it’s planning to roll out this year, including some that leverage artificial intelligence to make the job easier.
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PeerStreet expands product suite with Residential for Rent loans

Makes its first move into long-term financing
PeerStreet, an online marketplace for real estate-backed loans, has launched Residential for Rent loans, enabling borrowers to secure long-term financing on residential properties for rent. PeerStreet Co-Founder and CEO Brew Johnson said the company was excited about expanding its marketplace beyond bridge loans, and that the move is a natural progression as the company increases its transaction volume with institutional investors.
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Fannie Mae names two additions to its board of directors

Welcomes Google Assistant Treasurer Karin Kimbrough and Coinbase legal pro Brian Brooks
Fannie Mae has announced the appointment of Karin Kimbrough and Brian Brooks to its board of directors, two heavy-hitters with legit banking, tech and legal expertise. Kimbrough works as assistant treasurer for Google, while Brooks is chief legal officer at Coinbase Capital.
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Housing market trends are stifling the jumbo mortgage market

But the WSJ says lenders aren't backing down
In the years following the financial crisis, mortgage lenders turned their attention to the jumbo mortgage market as high-end clients proved to be a safe and profitable bet. But now, recent trends taken a toll on the jumbo market, causing volume to fall 12% in the last year, a decline that outpaces the overall mortgage market by 5%. "Still, there are few signs banks are changing tack," The Wall Street Journal stated. "If anything, industry watchers say, they are becoming more competitive."
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Kroll says some banks are rethinking viability of mortgage lending business

Predicts challenging market conditions will have some small retail operations closing up shop
The mortgage industry has witnessed very few mergers and acquisitions in the last year, despite what Kroll Bond Rating Agency calls a "fertile environment" for M&A activity. Why? Blame low profits and high origination costs. According to KBRA, the climate has some banks rethinking their positions, with some selling of mortgage assets and others simply exiting the business completely.
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Zillow pilots app for self-guided house tours

Makes headway in iBuying space with app that puts consumers in control
Zillow is testing a mobile app that enables users to tour a house for sale without the need for agent or an appointment. The app puts the control in the hands of the consumer, and it's part of Zillow's continued effort to make headway in the iBuying space. Tour it Now provides users directions to the property, unlocks the doors when they arrive, and allows them the opportunity to tour the house on their own time.
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Opendoor lands $300 million capital infusion

The iBuyer is now valued at $3.8 billion
Digital real estate disrupter Opendoor has landed yet another massive cash infusion, raising $300 million in a recent investment round and bringing its total equity capital to $1.3 billion. Now, the company – which aims to change the way Americans buy and sell homes by whittling the process down to a few simple online transactions – is valued at $3.8 billion.
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Credit Plus hires new VP of Data Solutions

Jane House joins team to help servicers enhance portfolio management
Credit Plus has hired Jane House as vice president of Data Solutions. As such, the mortgage industry veteran and mortgage data specialist will support the 2017 Tech100 winner's mission to broaden its application of risk management and portfolio retention tools for mortgage servicers.
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Figure Technologies expands leadership team

Hires former Fidelity exec and chief economist to advance mission to help homeowners access equity
Figure Technologies announced its intention to shake up home equity lending in the fall, and now it's making key hires to help achieve this goal. The fintech company is the brainchild of former SoFi co-founder and CEO Mike Cagney, who launched the company last March with the goal of leveraging AI, blockchain and advanced analytics to revolutionize home equity lending.
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Fannie Mae: Home sales will stabilize in 2019

But affordability remains key challenge
Home sales will stabilize this year, with a solid labor market and strong household formations driving demand, Fannie Mae's Economic and Strategic Research Group stated in its March outlook. But while slowing home price appreciation and lower mortgage rates have improved affordability, it will continue to be a challenge in 2019.
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