REAL ESTATE TECHNOLOGY
Bright MLS | July 15, 2022
Bright MLS and California Regional MLS (CRMLS), the nation’s two largest Multiple Listing Services, announced today the launch of REdistribute, LLC, a joint venture that changes how MLS data is collected and distributed on behalf of the real estate industry for institutional use.
REdistribute will aggregate and distribute data on behalf of participating MLS organizations and brokerages, providing unbiased, up-to-date MLS data directly from the source to institutions involved with the housing industry, and puts brokers back in control of their data rights and data usage. Additionally, the revenue generated by REdistribute will be shared back with the brokers and MLS organizations who participate, ensuring that participants are compensated fairly – and at true market value – for the data they provide.
“The exchange of real estate data is currently a one-way street, Third parties are aggregating and providing MLS data to government entities and a host of other for-profit companies. What’s missing are the data rights, data management and fair market compensation provided back to the owners of the data – the brokers.”
Art Carter, CEO of CRMLS
“Today, we are rewriting the rules of engagement,” said Brian Donnellan, President & CEO of Bright MLS. “Now is the time for professional MLS organizations to invest in solutions that create additional value for brokers, while also delivering the most comprehensive, accurate and freshest data to critical participants in the housing industry. Mortgage lenders, government sponsored entities and others creating property valuations and insights and their constituents will benefit greatly from REdistribute.”
Bright and CRMLS began working collaboratively late last year on solutions that improve services for the brokerage community, including recent work on a showing services hub that supports more choice for brokers. REdistribute is the next step the two companies are taking together, and at launch aggregates the MLS data of Bright and CRMLS, with Beaches MLS in Florida also signing a letter of intent to join for the launch.
“Beaches MLS is excited to be the first ownership partner with Bright MLS and CRMLS on REdistribute to bring even more value to our brokers,” stated Dionna Hall, CEO of Beaches MLS.
In addition to distributing MLS data from the source, REdistribute will also deliver innovations that will allow licensees such as lenders, insurance companies and government-sponsored enterprises to gain real-time insights on a market-by-market basis.
About California Regional MLS
California Regional MLS is the nation's largest and most recognized subscriber-based MLS, dedicated to servicing more than 110,000 real estate professionals from 40 Associations, Boards, and MLS organizations. CRMLS provides accurate data through innovative technology solutions, empowering real estate professionals to cooperate and succeed.
About Bright MLS
Bright MLS was founded in 2016 as a collaboration between 43 visionary associations and two of the nation’s most prominent MLSs to transform what an MLS is and what it does, so real estate pros and the people they serve can thrive today and into our data-driven future through an open, clear and competitive housing market for all. Bright is proud to be the source of truth for comprehensive real estate data in the Mid-Atlantic, with market intelligence currently covering six states (Delaware, Maryland, New Jersey, Pennsylvania, Virginia, West Virginia) and the District of Columbia. Bright MLS’s innovative tool library—both created and curated—provides services and award-winning support to well over 100k real estate professionals, enabling their delivery on the promise of home to over half a million home buyers and sellers monthly. In 2021, Bright subscribers facilitated $141B in real estate transactions through the company’s platform.
MORTGAGE AND LENDING
SimpleNexus | September 30, 2022
SimpleNexus, an nCino company and developer of the leading U.S. homeownership platform for loan officers, borrowers, real estate agents and settlement agents, announced today that EMM Loans has chosen SimpleNexus’ Nexus Engagement™ and Nexus Origination™ to power an electronic mortgage experience, attract and retain top talent and garner more business for its retail, wholesale, correspondent and consumer direct lending channels.
Founded in 2004, EMM Loans is a New Jersey-based lender offering private, direct and affordable mortgage loans. With 91 loan officers licensed in 38 states, EMM Loans provides best-in-class customer service using innovative technology. EMM Loans selected SimpleNexus to streamline its homebuyer experience, attract new business and drive referrals from real estate professionals.
EMM Loans will leverage SimpleNexus as a recruiting and retention tool, using its mobile lead engagement tool, Nexus Engagement, and its from anywhere point-of-sale (POS) platform, Nexus Origination, to support collaboration with real estate agents and deliver a better borrower experience. SimpleNexus integrates with EMM Loans’ core technology stack, including its loan origination system (LOS), market analytics and product pricing engine (PPE) and customer relationship management (CRM) platform.
“At EMM Loans, we support our expert team by giving them the innovative tools they need to attract more business and build lasting relationships, SimpleNexus creates some of the strongest digital homebuying tools for mortgage lenders. Adopting its technology will allow our loan originators and real estate partners to provide a streamlined homebuying journey that converts more borrowers and wins customers for life.”
-EMM Loans Senior Vice President Brad Miller
SimpleNexus is thrilled to partner with EMM Loans, a mortgage lender that cares about the experience of its team members and the communities it serves, We look forward to the opportunity to support the exemplary service and award-winning company culture that EMM Loans is known for,said SimpleNexus CEO Ben Miller.
SimpleNexus, an nCino company, is an award-winning developer of mobile-first technology for the modern mortgage lender. U.S. lenders depend on our namesake homeownership platform to unite the people, systems and stages of the mortgage process into a seamless, end-to-end solution that spans engagement, origination, closing and business intelligence. By helping lenders manage their teams and stay connected with borrowers and real estate professionals, we deliver a measurable return on investment in the form of reduced turn times, increased loan application submissions and more referral business. A four-time Inc. 5000 company, SimpleNexus has been recognized as one of the world’s Best Workplaces for Innovators.
REAL ESTATE INVESTMENT
Arturo and Vexcel | September 12, 2022
Arturo, the proptech company that delivers intelligent analytics from individual property to portfolio, announced today that it signed Vexcel Imaging, the leader in aerial imagery data, large-format aerial cameras and photogrammetry software, to be a lead imagery provider for its solutions. As part of the agreement, Vexcel will provide Arturo with true ortho imagery, oblique imagery and digital surface models (DSMs). In addition, 'Gray Sky' imagery or imagery taken after a catastrophic event occurs will be available for use.
High-fidelity property insights derived from imagery are an increasingly critical asset for property insurers who are challenged to assess and identify vulnerable property characteristics during the underwriting and quoting process, so they clearly understand their resting risk. Arturo’s partnership with Vexcel offers the unparalleled imaging capabilities modern insurance carriers seek in today’s rapidly evolving property market. It will also allow insurers to create risk and property damage mitigation strategies with their policyholders as well as faster, more accurate responses to claims after a catastrophe.
“This is a hard market for insurance. Carriers are caught between gauging their risk correctly up front and contending with the reality of increasingly volatile catastrophic weather events. Property insurers are tasked more than ever to have a thorough understanding of a property’s risk while also keeping costs down, so if an event does occur they can both keep regions insurable and their customer response rapid and efficient, We spent a lot of time collaborating with Vexcel to both ensure a partnership that was beneficial to our mutual customers and provide us greater flexibility in working with our insurance clients across the policy lifecycle. We recognized that not all imagery is created equal nor all machine learning analytics which is why coupling Arturo’s AI property intelligence solutions with Vexcel’s imagery will allow insurers to stay a step ahead of natural catastrophes, so they can accurately underwrite future policies and manage future claims with ease.”
-Greg Oslan, chief executive officer for Arturo
After much testing and rigorous analysis, we are pleased that Arturo has standardized on our best-in-class imagery to unlock better property insights for insurers, Our focus at Vexcel is to provide consistent, accurate and high-resolution imagery to customers who need a scalable solution in multiple countries. Using its AI and ML, Arturo analyzed properties in a variety of locations and found the results they needed to understand property risk and intelligence,said Rob Agee, chief operating officer at Vexcel Imaging.
Vexcel and Arturo’s collaboration will initially provide imagery for the United States and Australian markets.
Arturo combines AI and machine learning models with property images to help businesses decide with intelligence from the property to portfolio level. Across the insurance, lending, securities and real estate markets, Arturo empowers customers with on-demand, accurate property characteristics and predictive analysis to tackle the biggest property challenges with efficiency, accuracy and confidence.
For 30 years, Vexcel’s award-winning technology has led the photogrammetry and remote sensing industry. Using its professional-grade UltraCam sensors and a dedicated fleet of aircraft, Vexcel operates the world’s largest aerial imagery and geospatial data program. Vexcel collects imagery in 25+ countries including rural and urban areas in the contiguous United States. It provides a wide variety of high-resolution products from Oblique to True Ortho, DSM to Multispectral and Property Attributes. Its cloud-based aerial data improves workflows across a variety of industries.