U.S. Mortgage Rates Starting to Rise in July

Freddie Mac | July 22, 2019

Based on Freddie Macs latest Primary Mortgage Market Survey, after three weeks of holding fairly steady, the average U.S. mortgage rate ticked up in mid-July, 2019. Sam Khater, Freddie Macs chief economist, says, "Mortgage rates moved higher after remaining at around the same level for about three weeks. The rise in rates was driven by continued improvement in consumer spending and partly due to optimism around a forthcoming cut in short term interest rates, which should provide support for business and investor sentiment."

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The cost of homeowners insurance can vary by hundreds of dollars. Here are some tips from the Insurance Information Institute that could help you save big.

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REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT

Berkadia Signs Multiyear Agreement With Esusu

Berkadia and Esusu | September 08, 2022

Berkadia announced today that it signed an agreement with Esusu, the leading financial technology company leveraging rental data for credit building. This partnership unlocks greater equity for renters, improves property performance for multifamily owners and operators and reduces lender risk. With a mission to dismantle barriers to housing for working families, Esusu reports on-time rent payments to the three major credit bureaus, Equifax, Transunion, and Experian, to establish and boost credit scores for residents. The collaboration, which launched in the Spring of 2021, has expanded to over 34,000 units, establishing over 5,300 credit scores for residents to date. “We could not be happier to have a multi-year agreement with Esusu, which allows Berkadia to extend a powerful property performance enhancing solution to our clients, This will help owners and operators reach their own ESG goals at an exceptional value and support Esusu’s critical and innovative objective–helping renters build and improve their credit.” -Bryce Nyberg, Director of Berkadia Digital Partnering to Provide Value and Solutions Seeing the value Esusu could bring to the entire residential ecosystem, a partnership was formed when Esusu joined Berkadia’s inaugural BeEngaged program in February 2020. The partnership has proven to be mutually beneficial and has helped Berkadia develop a competitive advantage as an attractive funding source to owners and operators who value Esusu as both an economic and social solution. Through Berkadia’s introduction, Esusu services over 285 properties across more than 10 management companies including Burbank Housing, Comunidad, Eagle Property Capital, Morgan Properties, Odin Properties and more. As a workforce housing provider operating primarily in the inner city, Odin Properties has long been focused on supporting quality of life for our residents, In Esusu, we found a solution and a team that helped further that goal by allowing residents unprecedented access to the financial system, while improving property performance. It has been encouraging to see Esusu grow as their message rightfully resonates with so many different housing stakeholders,said Phil Balderston, Founder & CEO of Odin Properties LLC. Supporting an Equitable Housing Market Throughout the partnership, there has been growing industry awareness around the criticality of equity in multifamily housing. This was further emphasized when Esusu announced a collaboration with Freddie Mac. Through their joint initiative in support of increasing equitability in the housing market, Freddie Mac provides closing cost credits to multifamily borrowers who agree to use Esusu to report on-time rental payments. Esusu also provides discounted pricing for these and other Freddie Mac borrowers who agree to report on-time rental payments through the platform. Our credit building initiative has helped build or establish credit scores for tens of thousands of multifamily renters nationwide, It is an essential component of our effort to build a more equitable multifamily housing system,said Corey Aber, Vice President of Mission, Policy and Strategy for Freddie Mac Multifamily. Utilizing Real-Time Data for Returns Esusu not only improves the quality of life for residents but also helps properties maximize net operating income (NOI). By adding Esusu to Berkadia’s expansive network, borrowers can see scalable social impact results–credit score increases, new established scores, eviction prevention–as well as economic returns through improved rent collections, reduced delinquencies and renter turnover, and thereby healthier cash flows. We are grateful for our long-standing collaboration with Berkadia, The firm took an early bet on Esusu through their BeEngaged program which has paved the way for Esusu’s proliferation throughout the marketplace. Berkadia has shared our vision from day one and their foresight has led to adoption by other lenders and sponsors throughout the industry. Together, we will continue to create a world-class experience for their sponsors while taking tangible steps towards dismantling barriers to housing and bridging the racial wealth gap,said Samir Goel and Wemimo Abbey, Co-Founders and Co-CEOs of Esusu. About BeEngaged Launched in 2019, the BeEngaged program advises and accelerates startups that are redefining the commercial real estate industry by providing them with resources, strategic counsel, and a collaborative network to test and grow innovative concepts. Since then, the organization has accelerated more than a dozen CRE tech startups, including Esusu. BeEngaged features three stages to foster innovation and collaboration across the commercial real estate industry: BeEngaged Network®, Verified Status, and the BeEngaged Lab®. The BeEngaged Network® develops an ecosystem of founders, industry professionals, and capital providers dedicated to redefining the commercial real estate space. Companies participating in the BeEngaged Network® that have proven potential for long-term growth and industry transformation can be invited to seek Verified Status (VP). This stage provides company founders with focused mentorship for validating strategic alignment to participants of the BeEngaged ecosystem through experiments and pilots. Successful VP companies are invited to join BeEngaged Lab®, which is a catalyst for founders and Berkadia to collaborate on long-term initiatives. About Berkadia® Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets. About Esusu Esusu is the leading financial technology platform that leverages data solutions to empower residents and improve property performance. Esusu's rent reporting platform captures rental payment data and reports it to credit bureaus to boost credit scores. This allows renters to build and establish their credit scores while helping property owners mitigate against initiating evictions, powered by differentiated data and insights. Founded in 2018, Esusu reaches over 2.5 million rental units across all 50 states in the U.S.

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REAL ESTATE INVESTMENT

RealPage® Announces Definitive Agreement to Acquire Knock® CRM

RealPage | October 03, 2022

RealPage, a leading global provider of software and data analytics to the real estate industry, announced today that it has entered into a definitive agreement to acquire Knock® CRM (Knock), a provider of leading customer relationship management (CRM) and front office technology in the multifamily industry. This strategic acquisition combines Knock’s suite of products with RealPage’s deep expertise in AI, yield management and smart property management solutions. Together, RealPage and Knock will create a next-generation operating platform to maximize net operating income (NOI) for the multifamily sector’s multi-trillion dollar asset class. The transaction is subject to customary closing conditions and is expected to close in the coming days. Financial terms were not disclosed. “Acquiring Knock accelerates our strategy to deliver a next-generation front office platform that supports centralized leasing, Today's market conditions are driving property owners and operators to rethink operations to drive efficiency. Together with Knock, RealPage will meet our customers' needs with a connected platform that enables an AI-driven virtual operating model.” - Dana Jones, CEO of RealPage Founded in 2014, Knock has scaled its core CRM product to serve millions of apartment units across North America with the leading integrated suite of front office technology, providing multifamily owners and operators the capabilities they need to acquire and retain residents more profitably. Knock’s API-first platform integrates easily into any property management system (PMS) and will maintain this flexibility as it becomes part of RealPage’s open, PMS-agnostic front office platform. RealPage and Knock share an identical vision for a truly connected and intelligent front office. Together we will realize this vision faster, and the combination will enable us to go even further on our commitment to delivering both the technology and customer service our customers need to offer a best-in-class prospect-to-resident experience, said Demetri Themelis, CEO and co-founder of Knock. This is as much about the team as it is the technology, There’s a reason Knock has such a tremendous reputation in multifamily. We’re excited to begin working together as one team to drive greater value and the best possible experience for our customers,added Jones. About RealPage RealPage provides a technology platform that enables real estate owners and managers to change how people experience and use rental space. Clients use the platform to gain transparency into asset performance, leverage data insights and monetize space to create incremental yields. Founded in 1998, and headquartered in Richardson, Texas, RealPage is backed by private equity investment firm Thoma Bravo. RealPage currently serves over 22 million units worldwide from offices in North America, South America, Europe, and Asia. About Knock Knock offers an integrated suite of front office technology that provides multifamily owners and operators with the capabilities they need to more profitably acquire and retain high-value, long-term residents. Knock CRM empowers leasing teams with tools to accelerate successful leasing and renewal outcomes, provides marketers the data to optimize spend, and ensures executives have the business intelligence and insights needed to outperform their competitors. Founded in 2014, and headquartered in Seattle, Washington, Knock proudly serves millions of units operated by the fastest-growing management organizations in multifamily. It is regularly named as one of the fastest growing companies in America as well as one of the Best Places to Work in Seattle.

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REAL ESTATE TECHNOLOGY,REAL ESTATE INVESTMENT

Oxylabs Unveils Real Estate Scraper

Oxylabs | November 25, 2022

Oxylabs, the leading premium proxy and public web data acquisition solution provider, has launched its Real Estate Scraper API, enabling automated data acquisition from a large variety of real estate websites. The real estate industry has begun using web scraping significantly, enabling companies to extract valuable non-traditional data. For instance, most real estate ads exist online and web scraping is the primary technology allowing the collection of such intelligence, which, once analyzed, allows betting on data-backed decisions. In addition, such features as proximity and dispersion of points of interest have been shown to have strong predictive power for property value. While these data points are extremely valuable, getting a constant and reliable stream is challenging, which has created a rising interest in real estate external data providers. "Within the realm of data and information, scraping provides virtually limitless opportunities to businesses and individuals alike. Our internal research revealed that real estate web scraping has been growing significantly, with our sales teams noticing a sharp rise in client inquiries. Businesses use automated data acquisition to drive revenue and, at the same time, improve the livelihood of consumers through use cases such as creating data aggregators." - Nedas Višniauskas, Commercial Product Owner at Oxylabs Oxylabs stands at the forefront of automated public web data gathering, holding numerous patents for technologies associated with the field. Expansion into real estate data scraping is another step toward reaffirming the company's commitment to innovation in the industry. While Oxylabs has always provided infrastructure for scraping real estate data, it previously necessitated the usage of in-house scrapers. With the newest release, Oxylabs will make real estate data scraping accessible and cost effective to businesses of all sizes. About Oxylabs Established in 2015, Oxylabs is a premium proxy and public web data acquisition solution provider, enabling companies of all sizes to utilize the power of big data. Constant innovation, a large patent portfolio, and a focus on ethics have allowed Oxylabs to become a global leader in the data acquisition industry and forge close ties with dozens of Fortune Global 500 companies. In 2022, Oxylabs was named the fastest-growing public data gathering solutions company in Europe in the Financial Times' FT 1000 list.

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