Mortgage Delinquencies on the Rise in 8 U.S. States

CoreLogic | September 10, 2019

According to CoreLogic's latest monthly Loan Performance Insights Report, on a national basis 4% of U.S. mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in June 2019, representing a 0.3 percentage point decline in the overall delinquency rate compared with June 2018, when it was 4.3%. As of June 2019, the foreclosure inventory rate - which measures the share of mortgages in some stage of the foreclosure process - was 0.4%, down 0.1 percentage points from June 2018. The June 2019 foreclosure inventory rate tied the prior seven months as the lowest for any month since at least January 1999.

Spotlight

Emerging Trends in Real Estate® is a trends and forecast publication now in its 42nd edition, and is one of the most highly regarded and widely read forecast reports in the real estate industry. Emerging Trends in Real Estate® 2021, undertaken jointly by PwC and the Urban Land Institute, provides an outlook on real estate investment and development trends, real estate finance and capital markets, property sectors, metropolitan areas, and other real estate issues throughout the United States and Canada.

Spotlight

Emerging Trends in Real Estate® is a trends and forecast publication now in its 42nd edition, and is one of the most highly regarded and widely read forecast reports in the real estate industry. Emerging Trends in Real Estate® 2021, undertaken jointly by PwC and the Urban Land Institute, provides an outlook on real estate investment and development trends, real estate finance and capital markets, property sectors, metropolitan areas, and other real estate issues throughout the United States and Canada.

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REAL ESTATE TECHNOLOGY, MORTGAGE AND LENDING

Amrock Unveils Technology to Close Mortgages on Mobile Devices, Giving Consumers the Power to Complete a Home Loan from Anywhere

Amrock | September 14, 2022

Amrock, the nation's largest title insurance, property valuations and settlement services provider – and a part of Rocket Companies – today announced the introduction of proprietary technology to electronically close (eClose) mortgage transactions entirely from a mobile device. This new product represents the final step in Rocket Companies' creation of a seamless, end-to-end real estate experience clients can use to go from application to closing on the iPhone or Android phone they use every day. Rocket Companies, through its Rocket Mortgage brand, offers a completely digital home loan experience for consumers, including the ability to apply, receive approval and lock their rate for a mortgage – all from their smart phone. Now, through Amrock's first-of-its-kind technology, clients can close on a mortgage by connecting with the closing agent or notary from a mobile device no matter where they may be in the world – a revolutionary and convenient new feature. This transformational innovation helps consumers complete the historically cumbersome final step in a home loan process from anywhere at any time. "Our company has always been focused on meeting our clients wherever they may be, but we were limited by the industry's standards for closing mortgages. That was the driving force behind Amrock creating this technology, providing the ability to close mortgages for a spouse traveling for work, a military member serving away from home or countless other real-world scenarios, Rocket Mortgage pioneered getting a mortgage online from a smart phone – now, Amrock is providing the final piece of the puzzle for a complete mobile mortgage experience." -Nicole Beattie, CEO of Amrock Henry Winfield, an Amrock client based in Virginia, used the mobile technology earlier this year to close on a refinance while in North Carolina for work. The new feature enabled both he and his wife to video chat with the notary and digitally sign all necessary documents quickly and safely. When my wife and I found out closing virtually from our smartphones was a possibility, we were delighted – it was perfect for our circumstance and we didn't have to delay the closing, The experience was quick, intuitive and secure – and we had access to knowledgeable experts who helped us every step of the way,said Winfield. Amrock's mobile closing capability is part of the Rocket Platform through which clients can search for a home with Rocket Homes, get a home loan from Rocket Mortgage, eClose on their mortgage through Amrock via Remote Online Notarization (RON), In-Person Electronic Notarization (IPEN) or a Hybrid eClosing, and now, can close on their mortgage completely from a smart phone. Clients that prefer to keep some elements of their home loan journey non-electronic can still choose to do so. Our mission at Rocket Companies is to simplify life's most complex moments so our clients can live their dream, and we've delivered yet again on our vision to create a seamless real estate experience by being the first-ever to revolutionize the closing process, In addition to new mobile capabilities, clients can now move from mortgage processing with Rocket Mortgage to closing with Amrock through a single sign-on feature – a seemingly small, yet significant example of how the Rocket Platform removes friction every step of the way for consumers,said Jay Farner, CEO of Rocket Companies. Based on the volume of registered notes on the Mortgage Electronic Registration System (MERS), Amrock is currently responsible for the majority of eClosings throughout the country. Its clients can complete a mobile RON when refinancing a mortgage in nearly 60% of the U.S. – each state where RON eClosings are allowed by law. Amrock plans to roll out mobile RON capabilities for all mortgage transactions, including home purchases, by the end of 2022. About Amrock Amrock is the leading national provider of title insurance, property valuations and settlement services. The company delivers FinTech solutions to streamline the real estate and mortgage experience for lenders, consumers and real estate professionals. Amrock is a preferred provider to top retail mortgage lenders, with a wide range of clients throughout the residential and commercial real estate finance industries. Driven by thousands of professional partners and team members nationwide, Amrock is headquartered in the heart of downtown Detroit, Michigan with regional service centers in California, Pennsylvania and Texas and additional locations in several other states. For more information, please visit Amrock.com. About Rocket Companies Founded in 1985, Rocket Companies is a Detroit-based FinTech platform company consisting of personal finance and consumer technology brands including Rocket Mortgage, Rocket Homes, Amrock, Rocket Auto, Rocket Loans, Rocket Money (formerly known as Truebill), Rocket Solar, Rocket Mortgage Canada (formerly known as Edison Financial), Lendesk, Core Digital Media, Rocket Central and Rock Connections. Rocket Companies' mission is to be the best at creating certainty in life's most complex moments so that its clients can live their dreams. The Company helps clients achieve the dream of home ownership and financial freedom through industry-leading client experiences powered by its simple, fast and trusted digital solutions. Rocket Companies ranked #7 on Fortune's list of the "100 Best Companies to Work For" in 2022 and has placed in the top third of the list for 19 consecutive years.

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REAL ESTATE TECHNOLOGY,REAL ESTATE INVESTMENT

JLL's strategic technology services enable future of work and sustainability

JLL | November 22, 2022

JLL Technologies (JLLT), the technology division of JLL, today announced the launch of the Strategic Technology Program, which provides assessment, strategic planning, goal setting and performance measurement services for real estate technologies. The launch of the program is in response to increasing demand for technology solutions to help commercial real estate (CRE) managers adhere to sustainable business objectives. These services are particularly relevant now as businesses implement long-term hybrid work models and ambitious sustainability targets stemming from the pandemic. According to JLL research, 44% of large and mid-size organizations rely on external partners and service firms to accelerate their real estate technology implementation. Among JLL's enterprise clients, demand for technology management services has increased by over 50% year-over-year. As demand has increased, JLL has invested in its technology services. The Strategic Technology Program helps real estate leaders better manage and operate their real estate technology for optimal outcomes. Real estate leaders can use the program's technology assessment, management and measurement offerings to align their technology portfolio to their building systems and data, sustainability, and facility management objectives. The offering helps companies in the following areas: Building – Tools that tune buildings and workspaces to drive for optimal performance, inform sustainability objectives, and enable real estate services teams to interact with building and enterprise systems. Workplace – Enterprise technology solutions that help maximize employee efficiency and enhance their workday experience. Sustainability – Platforms that measure and improve energy use, water use and waste to help companies reach their net zero carbon goals. Data & Analytics – Governance, integration, reporting and modeling that leverage data and analytics platforms to achieve financial, operational and experiential breakthroughs that power insight-driven real estate decision. "More and more, organizations are coming to us to help them demystify the ever-expanding and increasingly complex real estate technology landscape, and ultimately use that technology to help them navigate the changing world of the workplace, Hybrid work requires technology to be successful. This offering is a great example of how we combine expertise across technology and technology services to enable our customers to select, deploy and adopt technology and accelerate their return on investment." -Sharad Rastogi, president, JLLT JLLT houses decades of talent from all corners of CRE – developers, technologists, brokers and more. Together with other business lines in JLL, it delivers a comprehensive portfolio of purpose-built software platforms, apps, hardware and technology services. It also offers innovations from venture-backed companies. JLLT's objective is to meet and exceed the industry's demands for transactional, operational, experiential and data-driven excellence. JLLT is our strategic real estate technology partner, They are an extension of our internal team and a trusted delivery and thought partner. They help us drive innovation, transformation, and adoption through an actionable and measurable technology roadmap and tightly aligned business outcomes, both of which are supported by efficiently utilized people resources and technology resources,said Kathy Jones, Associate Vice President for Facilities Engineering and Planning, Rice University. JLLT is recognized as a leading Workplace Systems Integrator by Verdantix Research and has helped thousands of clients deploy and manage technology in more than 130 countries globally, representing over 250,000 properties and more than 14 billion square feet of space. About JLL JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

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REAL ESTATE ADVICE

Stewart Valuation Intelligence, LLC is Verified to Support Freddie Mac’s Property Data Report with VALIDITY Pro

Stewart | September 22, 2022

Stewart Information Services Corporation today announced that Stewart Valuation Intelligence, LLC (SVI) has been verified to support Freddie Mac’s new Property Data Report (PDR) with VALIDITY Pro and its national panel of highly trained real estate brokers and agents. VALIDITY is the company’s family of inspection applications, optimized for mobile phones or tablets. With VALIDITY Pro, an SVI broker or agent conducts a full property inspection to collect Freddie Mac’s required data for the PDR. “Being an Appraisal Management Company (AMC) with the technology and dedicated broker network needed to complete the reports for our clients is a huge advantage, Our customers don’t have to rely on unknown third-party providers. All our PDRs are produced with our network partners using our Freddie Mac verified VALIDITY Pro application.” -Aaron Fowler, President of Stewart Valuation Intelligence, LLC Starting in July, Freddie Mac transitioned from offering automated collateral evaluation (ACE) appraisal waivers to offering ACE+ PDR for cash-out refinance and certain “no cash-out” refinance Mortgages. This change will allow Sellers and Borrowers to continue to benefit from loans originated without a traditional field appraisal while mitigating risks. In accordance with Freddie Mac’s requirements, VALIDITY collects all needed information and data including digital floor plans with dimensions and calculations, comprehensive sets of subject property photographs, property characteristics represented in the property data set, and adverse property conditions that require repairs, alterations, or an inspection by a trained professional, added Fowler. About Stewart Stewart is a global real estate services company, offering products and services through our direct operations, network of Stewart Trusted Providers™ and family of companies. From residential and commercial title insurance and closing and settlement services to specialized offerings for the mortgage industry, we offer the comprehensive service, deep expertise and solutions our customers need for any real estate transaction. At Stewart, we are dedicated to becoming the premier title services company and we are committed to doing so by partnering with our customers to create mutual success.

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