June 2019 – REI INK

Foreign Investment in U.S. Residential Real Estate Drops

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Foreign buyers purchased fewer U.S. existing homes from April 2018 through March 2019. That’s according to a report the National Association of Realtors (NAR) released July 17. The report, “Profile of International Transactions in U.S. Residential Real Estate 2019,” is an annual survey of residential purchases from international buyers. It revealed that foreign buyers purchased $77.9 billion of U.S. existing homes during the 2019 survey period, a 36% drop from

Offerpad Adds Director, Plans Product Expansion

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Bryan LaFranchi has joined iBuyer Offerpad as its national director of Homebuilder Alliances. He was previously with Zillow Group for nine years. Offerpad’s Homebuilder Alliance program allows homeowners to coordinate the sale of their existing home to coincide with the purchase of a new construction home, eliminating the need to sell the current house before buying. Offerpad pays cash for the current home, and homeowners can apply that toward a

Capital Markets Veteran Joins PeerStreet

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PeerStreet has appointed Deepa Salastekar as the vice president of institutional sales. PeerStreet is a marketplace for investing in real estate backed loans. Salastekar will lead the expansion of the company’s relationship base of institutional partners across all PeerStreet’s investment types. Salastekar has more than 20 years of leadership experience in capital markets, including with Pacific Investment Management Company, Bear Stearns & Co, Inc., and Inveniam Capital Partners. Salastekar is

Sagent Lending Technologies Adds Executive

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Stephanie Durflinger is the new executive vice president and chief product officer of Sagent Lending Technologies. She will lead product management and customer support for mortgage and consumer servicing solutions. Durflinger brings more than 20 years of mortgage technology expertise to the new role. “I have a passion for bringing to the market compelling, innovative mortgage technology solutions that help people achieve and maintain homeownership, and I am excited to

Single-Family Build-To-Rent Investment Platform Launches

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Lafayette Real Estate has teamed up with Guardian Residential to create an investment platform that focuses solely on the acquisition and development of newly constructed homes for the purpose of long-term rentals. The new firm will be known as Lafayette Communities. It will be led by Thibault Adrien, current CEO of Lafayette Real Estate, and Dennis Cisterna III, current CEO of Guardian Residential. Both are long-time industry executives in the

World’s First Closing Automation Platform for Lenders Launches

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Notarize, the first company to enable an entirely online real estate closing process, introduced the world’s first closing automation platform on June 5. With the introduction of this platform, Notarize is pioneering the ability for anyone to buy, sell or finance their home entirely online. The platform can accommodate every type of closing—from fully online to hybrid closings. The first is a fully automated, entirely digital experience that helps homebuyers