NEWS BRIEFS
NATIONAL UPDATES
estimated tax bill amounts. TLE results are provided through Black Knight’s LoanSphere Exchange, a Web-based technology that enables lenders and service providers to do business electronically through a secure, standards-based platform. Black Knight Financial Services Inc. is a Fidelity National Financial (NYSE:FNF) company and a leading provider of integrated technology, data and analytics solutions that fa- cilitate and automate many of the business processes across the mortgage lifecycle. •
Chinnici has nearly 20 years of experience in the property management industry, most recently working as the presi- dent of Corazon Real Estate, a company he founded in 2005. Seeking to improve revenue per unit managed, replace less profitable properties with higher quality accounts and increase overall company effectiveness, Chinnici decided to convert the business to a Real Property Management franchise. The Real Property Management franchise system hopes to introduce approximately 50 to 75 new offices to the system by the end of next year, which would propel its foot- print to reach over 325 offices nationwide. Many of these will be conversions of existing property managers to the Real Property Management brand. “With an increasing number of renters in the U.S., but limited quality of property management services, demand for quality support that renters and investors deserve has never been higher,” said Lukas Krause, CEO of Property Management Business Solutions, the franchisor of Real Property Management. “Because of this trend, we are at- tracting top-tier talent, like Tony, to Real Property Man- agement, which allows us to continue elevating property management standards across the nation.” •
PEOPLE IN THE NEWS REALOGY FRANCHISE GROUP: John Peyton has assumed the newly created role of president and chief operating officer for Realogy Franchise Group, a subsidiary of Realogy Holdings Corp. (NYSE: RLGY). Peyton formerly was senior vice president of brands and shared services for Starwood Hotels & Resorts Worldwide Inc., where he spent 17 years in a variety of roles. Alex Perriello , CEO of the Realogy Franchise Group, will now focus primarily on strategic growth while Peyton will be responsible for the op- erational management of Realogy’s franchise brands. Peyton is a recognized global branding leader in a multibrand environment. Realogy Holdings Corp. (NYSE: RLGY) is a global leader in residential real estate franchising and brokerage with many of the best-known industry brands including Better Homes and Gardens Real Estate, CENTURY 21, Coldwell Banker, Cold- well Banker Commercial, Corcoran, ERA, Sotheby’s International Realty and ZipRealty. Collectively, Realogy’s franchise system members operate approximately 13,600 offices with more than 261,000 independent sales associates conducting business in 109 countries and territories around the world. TRANZON LLC: Fourth-generation auctioneer Scott King has joined Tranzon LLC as president and chief executive officer, suc- ceeding DavidWarren . King, longtime executive vice president of J.P. King, currently serves on the National Auctioneers Associa- tion board of directors and serves as an instructor in the Certified Auctioneers Institute. He joins Tranzon after 35 years in his family business, the J.P. King Auction Company. Tranzon LLC is one of the largest real estate auction companies in the United States, with 30 independently owned and operated offices coast-to-coast. B2R FINANCE: Joe Hullinger has joined B2R Finance, the larg- est lender for single-family rental property investors, as a senior vice president. In that role, Hullinger is responsible for oversight of the company’s single property loan sales team as well overall operations for the organization. Additionally, Hullinger will over- see the portfolio loan sales team, which serves borrowers with more than seven properties and loan sizes greater than $700,000. Hullinger most recently was an operations executive at Genworth Mortgage Insurance, where he directed loss mitigation activities, created strategies for systematic targeted marketing campaigns and leveraged a predictive analytics model for increased cam- paign efficiencies. He also has worked at BNCMortgage, Finance America, Fieldstone Mortgage, America Mortgage Solutions and Transamerica Mortgage Company.
REALTYSHARES SURPASSES $200 MILLION MARK
REALTYSHARES , a leading online marketplace for real estate investing, has announced that it has raised more than $200 million in capital from its network of investors for residential and commercial real estate projects across the country. The company connects more than 25,000 accredited and institutional investors with pre-vetted real estate companies and operators looking to raise debt or equity capital through its marketplace. This community of investors is using the Real- tyShares marketplace to review and participate in opportuni- ties for as little as $5,000. “As a leader in the online real estate investing space, this ac- complishment is not only important to the team here at Real- tyShares, but also to the industry as a whole,” said Nav Athwal, founder and CEO of RealtyShares. “By marrying technology with changes in regulations under the JOBS Act,
SOURCE :: Black Knight Financial Services
FLOODING EFFECTS STILL BEING FELT
Properties in 20 Louisiana parishes (counties) may be at an increased risk of loss as a result of major flooding
we have been able to streamline the invest- ment process, provide greater accessibility and reduce the barrier to entry substan- tially. This is game-changing for the real estate industry, and we’re excited to be at the forefront.” In addition to this milestone, Real-
in August. Some 300 proper- ties with an allocated property balance of more than $1 billion are at risk, according to a report recently issued by Morningstar Credit Ratings LLC (https://rat- ingagency.morningstar.com/). The properties are backed by 214 commercial mort- gage-backed securities. Most of the properties are in the Liv- ingston and East Baton Rouge parishes, which were included in what FEMA proclaimed as a major disaster area.
SOURCE :: Real Property Management
tyShares also recently announced that it has closed a $30 million line of credit through an institutional partner, which will allow the company to pre-fund every debt deal, as well as select equity investments, before making them available to investors through its marketplace. The credit line allows the platform to put its own balance sheet toward funding projects, bringing a new level of commitment to the invest- ments listed on the platform and better alignment between RealtyShares and its base of accredited investors. •
‘TAX FOR LOAN ESTIMATION’ TOOL INTRODUCED
The data and analytics division of BLACK KNIGHT FINANCIAL SERVICES INC. (NYSE: BKFS) recently introduced Tax for Loan Estimation (TLE), a new solution that helps lenders and real estate professionals quickly and accurately estimate property taxes during the residential real estate loan application process. TLE
“While we see the potential for physical and monetary damage for many of the properties in affected areas, the undamaged multifamily and hotel properties may see an uptick in demand in the short term as thousands of homeowners seek out both temporary and permanent residence,” the report said. The late-summer flooding “should have a limited (nega- tive) effect on commercial real estate investors, as we were only able to confirm flood damage at one of the collateral properties securing the 10 largest loans packaged in com- mercial mortgage-backed securities,” said Steve Jellinek, vice president at Morningstar Credit Ratings LLC. •
provides an immediate tax estimate and features nationwide coverage. In addition, the solution supports lender compliance with property tax tolerance rules for good-faith loan estimates under TRID. TLE can be tailored to meet a user’s specific needs and delivers most estimates in real time. It also provides tax bill values for new construction homes,
SOURCE :: RealtyShares
REAL PROPERTYMANAGEMENT BOLSTERS PORTFOLIO
PROPERTY MANAGEMENT BUSINESS SOLUTIONS LLC , the franchisor of Real Property Management, the nation’s leading full-service property management organization, recently signed a franchise deal that brings with it more than 600 prop- erties in Reno, Nevada. Entrepreneur and area native Tony Chinnici is the president and franchisee of Real Property Man- agement Corazon, which opened its doors in early summer.
saving lenders time by eliminating the need to review complicated builder reports. The information provided by TLE includes property address, parcel number, current tax bill data, assessment data, escrow to collect at closing and
SOURCE :: Morningstar Credit Ratings
8 | think realty magazine november :: december 2016
thinkrealty . com / mag | 9
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