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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 PeerStreet’s latest executive hire to an expanding team of capital markets professionals. In March, PeerStreet surpassed $2 billion transacted on its platform. Author admin View all posts

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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 foster the transformation of solutions in the mortgage and consumer servicing market,” she said. Capital Markets Veteran Joins PeerStreet 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 PeerStreet’s latest executive hire to an expanding team of capital markets professionals. In March, PeerStreet surpassed $2 billion transacted on its platform. Author admin View all posts

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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 single-family rental space. Lafayette Communities opened its first rental community, the 51-unit Preserve at Pine Grove, in the Riverview submarket of Tampa in early June. The community consists of three- and four-bedroom detached homes with modern features such as granite countertops and stainless-steel appliances. The company has additional communities under development in Florida and is planning expansion into markets in Texas, Georgia, North Carolina and Tennessee before the end of 2019. Author admin View all posts

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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 close on their home from anywhere in the world, on any device. Hybrid closings allow most documents to be reviewed and electronically signed with Notarize before the closing, but the big day still happens in person. Author admin View all posts

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Real estate technology platform HomeLight, based in San Francisco, has acquired Eave, a digital mortgage startup with a proprietary software platform that automates 70 percent of the mortgage process. Additionally, HomeLight has launched a home loans division that will operate in six states, including California, Colorado, Washington, Oregon, Pennsylvania and Texas. HomeLight is a resource for home sellers and buyers who use its Agent Matching service to hire real estate agents and its Simple Sale™ product to tap into a network of pre-approved cash buyers. It has helped list more than $10 billion in homes. The company has more than 150 team members across offices in San Francisco, Scottsdale, Brooklyn and Seattle. The acquisition of Eave allows HomeLight to offer products and services across the complete buying and selling cycle, from search to close. Eave offers a full underwrite in just 24 hours, a 30-minute application, guaranteed 21-day close, low interest rates and experts to guide clients through the process. Both companies built their technology platforms from the ground up in order to solve specific pain points throughout the home buying and selling process. “We’re thrilled to bring Eave’s stellar product and team into the HomeLight family,” said Drew Uher, founder and CEO of HomeLight. “By harnessing Eave’s proprietary mortgage technology, we believe we can significantly improve the home-buying process for everyone involved: buyers, sellers and agents alike.” Author admin View all posts

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ATTOM Data Solutions’ April 2019 U.S. Foreclosure Market Report shows that foreclosure filings—default notices, scheduled auctions and bank repossessions—were reported on 55,646 U.S. properties in April 2019. That’s a 5% drop from March and a 13% decrease from a year ago. It marked the 10th consecutive month with an annual decline. “While overall foreclosure activity is down nationwide, there are still parts of the country that we need to keep a close eye on,” said Todd Teta, chief product officer at ATTOM Data Solutions. “For instance, Florida is seeing a steady annual increase in total foreclosure activity for the 8th consecutive month, which is being sustained by a constant annual double-digit increase in foreclosure starts.” Lenders started the foreclosure process on 30,524 U.S. properties in April 2019, down 5% from March and down 10% from April 2018, the third consecutive month with an annual decline. States that posted annual decreases in foreclosure starts in April 2019 included New York (down 43%), Nevada (down 36%), Colorado (down 34 %), Maryland (down 31%) and Michigan (down 25%). Metropolitan statistical areas with a population greater than 500,000 that saw a large annual increase in foreclosure starts from last year included Orlando, Florida (up 90%); Miami, Florida (up 45%); Columbus, Ohio (up 35%); Portland, Oregon (up 31%); and El Paso, Texas (up 22%). Bucking the national trend, 17 states saw an annual increase in foreclosure starts, including Washington (up 38%), Florida (up 34%), Oregon (up 22%), Louisiana (up 12%) and Georgia (up 11%). Nationwide, one in every 2,433 housing units had a foreclosure filing in April 2019. States with the highest foreclosure rates were New Jersey (one in every 980 housing units), Maryland (one in every 1,218), Delaware (one in every 1,249), Illinois (one in every 1,371) and Florida (one in every 1,415). Among 220 metropolitan statistical areas with a population of at least 200,000, those with the highest foreclosure rates in April 2019 were Atlantic City, New Jersey (one in every 702 housing units); Fayetteville, North Carolina (one in every 732); Clarksville, Tennessee (one in every 853); Columbia, South Carolina (one in every 946); and Deltona-Daytona Beach, Florida (one in every 966). Lenders completed foreclosures (REO) on 11,078 U.S. properties in April 2019, down 9% from the previous month and down 22% from a year ago, marking a sixth consecutive annual decline. States that saw a double-digit annual decline in REOs included Alabama (down 45%), Arizona (down 38%), North Carolina (down 32%), California (down 20%) and Nevada (down 14%). Counter to the national trend, 10 states posted year-over-year increases in REOs in April 2019, including Washington (up 53%), Connecticut (up 22%), Kentucky (up 19%) and New York (up 3%). Author admin View all posts