News Updates

RealPage Releases AI Screening

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RealPage, Inc. has introduced RealPage® AI Screening, the first AI-based screening algorithm built specifically for the multifamily apartment rental industry. The solution, developed by RealPage Resident Screening and Data Science teams is designed to enable property management companies to identify high-risk renters with greater accuracy. Traditional screening models use credit score, rent-to-income, debt-to-income and generic financial data to determine renter risk. These factors broadly measure an applicant’s capability to pay

Civic Financial Services Launches Rental Program

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Civic Financial Services has released its new rental program, designed for real estate investors who are focused on aggregating rental properties. The program includes 5/1, 7/1 and 10/1 interest-only ARM products for either a single asset or a portfolio of properties, allowing investors to further expand their businesses. CIVIC’s expansion of its product offerings serves real estate investors with a rental strategy who may not meet the requirements of the

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