REAL ESTATE TECHNOLOGY
QUALIA | August 25, 2022
Qualia, the leading digital real estate closing platform, today announced the release of the Qualia API. The Qualia API provides real estate businesses and PropTech companies seeking to start, optimize, or scale their title agency operations the ability to automatically connect internal software tools, integrate with their commercial partners, and analyze their comprehensive performance data.
With the Qualia API, businesses can automatically place and track title orders, as well as access comprehensive order, accounting, and contact data on their files in order to build custom notifications and executive-level performance dashboards. API customers can use these capabilities to design custom client experiences as well as track performance, productivity, revenue, and pipeline across clients and settlement agency branches. These insights can then be used to identify areas for improvement operationally, visualize business trends over time when used with their BI tools, and ensure CRM and accounting systems all stay in sync.
“Our mission at Qualia is to create a simple and secure journey to home ownership, As part of that, we continue to develop technology that helps businesses engineer full end-to-end purchase and refinance experiences. The API makes it easy for businesses to expand without an expensive and timely investment in custom built technology.”
-Nate Baker, CEO at Qualia
The Qualia API comes along at a time when the pace of change in consumer expectations for end-to-end purchase experiences has accelerated. Companies with large-scale operations have historically struggled to keep up with these changes and efficiently connect their multiple workflow and business intelligence tools to deliver a unified real estate transaction experience.
Amid these changing expectations, the real estate and mortgage market continue to tighten. After years of growth, the industry faces a market downturn which is predicted to persist well into 2023. The Mortgage Bankers Association forecasts mortgage origination levels in 2023 are expected to be half of what they were in 2021. During this shift, companies in the real estate and mortgage industry are simultaneously facing heavy pressure to cut costs by operating more efficiently while also investing in modern client experiences in order to remain competitive.
Qualia’s cloud-based platform is uniquely positioned to meet the various needs of real estate business amid shifting macro environments. A flexible set of pull and push API capabilities and a secure authorization framework enable title agents to connect internal systems for a more streamlined title and escrow operations infrastructure. For businesses without internal title operations, the API also enables direct, digital access to a national network of technology-enabled independent title agents.
We think about Qualia as an extension of the Redfin ecosystem and that’s not possible without the Qualia API, With the Qualia API, we don’t have to spend tens of millions of dollars in R&D to build out ways to streamline our title & escrow experience. The Qualia platform makes it possible for us to package, market, and let our customers have a cohesive experience that would not otherwise be possible as a set of discrete services,shared Mary Pappas, Principal Product Manager at Redfin.
Qualia is the leading comprehensive digital closing platform used by title, escrow, real estate and mortgage lending professionals to transform home buying and selling into simple, secure, enjoyable experiences for millions of homeowners each year. The Qualia platform provides a secure operating system of record for the real estate settlement ecosystem through a suite of workflow, accounting, reporting, and communications products as well as its expansive product and service integrations. Qualia is headquartered in San Francisco, CA and has offices in Austin, TX, and Superior, CO.
REAL ESTATE TECHNOLOGY
Ready Capital | July 14, 2022
Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced Starz Real Estate (Starz), a pan-European commercial real estate lending platform has formed a new joint venture with Ready Capital Corporation (NYSE: RC), a commercial mortgage REIT headquartered in New York, to originate circa €300m of new commercial real estate loans over the next two years.
The new joint venture will focus on deploying commercial real estate bridge and term loans between €10m and €40m in size across the UK, Benelux, Dach Region, Italy and Portugal with up to 75% LTV across sectors including office, residential, mixed use, student housing, logistics, self-storage, and selective retail and hotel opportunities. The joint venture can also offer construction lending in the above mentioned continental European locations.
The deal reflects further institutional confidence in Starz, following backing from a Middle East Sovereign Wealth Fund at the end of last year to originate €900m of loans with the latest transaction in that fund comprising a €68.5m senior facility to Union Street Investments for a multi-office investment platform in the Netherlands.
"This partnership with Ready Capital will significantly expand our capability to service the increasing demand for agile, mid-market capital across the UK and Europe, bolstering our existing lending strategy."
David Arzi, CEO of Starz
"We are working in a challenging yet exciting landscape in the wake of the pandemic, with new opportunities as assets change hands or need repurposing to suit new demands. We are pleased to have an institutional investor of this calibre backing us, with our streamlined underwriting processes ensuring we can take capital to market in an efficient and decisive manner."
"This new JV partnership with Starz follows through on our commitment to expand Ready Capital's commercial real estate lending business internationally," said Thomas Capasse, CEO of Ready Capital. "With a history of sourcing high quality loans from strong sponsors, the team at Starz has an investment philosophy that aligns well with the credit foundation of Ready Capital's lending strategies, plus they share our hands-on approach to loan servicing and asset management." Ready Capital is externally managed by Waterfall Asset Management, LLC.
Launched in July 2018, Starz is a commercial real estate lender focused on middle-market loans throughout Europe. With a balance sheet built for the long haul, Starz is a flexible and reliable source of capital for real estate investors. Starz provides collaborative lending solutions coupled with streamlined underwriting processes that ensures seamless service. https://starzrealestate.com/
About Ready Capital
Ready Capital Corporation (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services small to medium balance commercial loans. Ready Capital specializes in loans backed by commercial real estate, including multifamily agency, stabilized and bridge financing, as well as government guaranteed business loans. Ready Capital and its affiliates also provide alternative lending, construction lending, and low-income housing finance as well as residential mortgages. Headquartered in New York, Ready Capital employs more than 600 lending professionals nationwide. The company is externally managed by Waterfall Asset Management, LLC.
REAL ESTATE INVESTMENT
Chime Technologies | September 15, 2022
Chime Technologies, an award-winning real estate technology innovator, today announced The Real Brokerage has engaged with the company to serve as the organization’s customer relationship management (CRM) platform of choice.
One of the industry’s fastest growing brokerages and a Chime customer since 2019, Real’s leadership undertook an extensive review of their technology partnerships earlier this year. After an exhaustive competitive review, Real has once again committed to providing their agents with Chime, the industry’s most innovative CRM, information data exchange (IDX) and marketing automation platform. To learn more about how Chime is powering Real agents' businesses, join us at the inaugural One Real Conference taking place October 17-19, 2022, in San Antonio, Texas.
“Eighteen months ago, we mapped a multifaceted plan to strategically grow our agent base, and industry-leading technology was foundational to that plan, We are committed to providing agents and teams with the best, most innovative tools on the market, and we are confident in Chime’s value to help our agents grow and scale.”
-Real Chairman and CEO Tamir Poleg
Brokerages like Real understand just how important technology is to underpin the growth and expansion of their business. Unlike other offerings, Chime’s all-in-one enterprise platform was expressly created with brokerages like Real in mind and built from the ground up based on customer feedback. The centralized platform features flexible account structure, unique lead routing and distribution capabilities, and even the ability to white label.
Under the expanded agreement, the agents and teams at Real will have access to an upgraded suite of innovative tools from Chime, including the new competitive market analysis offering and Social Studio, Chime’s social media marketing automation capability. With an easy-to-use system that improves agent productivity and takes the pain out of CRM adoption, Chime enables firms like Real to recruit and retain the industry’s best agents and accelerate profitable growth.
Shifting market conditions in the real estate industry result in tight competition at both the agent and broker level, Modern brokerages such as Real that embrace and adopt technology uniquely suited to address the complexities of brokerage operations will be well-positioned to stand out from the competition and thrive. We are thrilled the team at Real has reconfirmed the value we provide to their rapidly growing business and look forward to helping them achieve their goals,noted Joe Daee, Vice President of Enterprise at Chime.
Chime will also be a featured sponsor of the inaugural One Real Conference 2022. During the event, our executives will take the stage to highlight how Chime’s all-in-one CRM platform can grow agents' businesses.
About Chime Technologies
Chime is an award-winning real estate technology innovator headquartered in Phoenix, Arizona. Our AI-powered platform empowers real estate professionals, teams, and brokerages with the tools they need to automate lead generation operations, drive conversions, and grow their business.