Welcome Back Mr Foley

What do you do when your $6B company (Fidelity) has an extra $1.5B in cash languishing in your bank accounts? You buy back a company (LPS) that you spun out and you start all over again. If you ever doubted the value of providing software and data services to the financial industry, Mr. Foley just answered it. He is now officially back in the MLS business…. Almost. Deal is not quite done. But wait, there is more. Foley is a self made Billionaire who may perhaps be best known for his personal investing in the wine industry – having purchased [...]

By |2018-05-03T21:24:35+00:00May 29th, 2013|Main category, MLS Insights|0 Comments

Zillow brings 1.2M listings out of the shadow

Since the housing market crash, there has been lots of discussion about shadow inventory. These are properties that are in bank foreclosure or pre-foreclosure that are making their way onto the market. Up until now, this inventory has been slowly released - perhaps strategically by banks who want to contain loss exposure - but more likely as a result of the slow process for foreclosure across America. The only thing slower than a bank's decision making process is the US Court system. Last week, Zillow - one of the three leading search portals in America began to display 1.2Million listings. [...]

By |2018-05-03T21:24:49+00:00October 29th, 2012|Broker Technology Research, Main category|3 Comments

LPS automates court cases

I guess that if you are a technology company that has been spending a lot of time in court rooms, you may as well make the best of it, and fix the court system while you are there. Just kidding. In all seriousness, LPS and CoreLogic have largely escaped all damages for thier role in supporting the bad decisions of lenders. That is a good thing. But LPS did just land a huge deal in their courthouse management systems. They were awarded the contract for managing documents on 425,000 court cases that roll through the Palm Beach County Clerk & Comptroller’s office each year. [...]

By |2018-05-03T21:25:09+00:00March 15th, 2012|Main category, MLS Insights, Press Releases|0 Comments

LPS sells tax solutions to Lereta

LPS saw the spin off of their Agent-Broker products division in a management led buy out last September. The new company formed is called Real Estate Digital. Today, it was announced that the LPS Tax company was sold to Lereta. This company has nothing to do with the data that is licensed to RPR or MLSs.  This is a tax services company totally separate from the Applied Analytics Data Solutions company that licenses public records and serves MLS. These are interesting times. We will keep you posted on what we hear. […]

WAV Group Week in Review September 10 2011

In real estate technology this week, there were two announcements that caught our attention regarding Automated Valuations (AVM). Trulia launched Trulia Estimates, their version of property valuations for consumers that competes with public website rival, Zillow  and Zestimates. Along the same lines, CoreLogic announced this week that they have licensed more than 1 million active property listings from MLSs through their Partner InfoNet program (PIN) powering their institutional AVM products. CoreLogic is in a race with NAR’s initiative called Realtors Property Resource or RPR. Lender Processing Service (LPS) licenses active listing data from RPR to power their commercial AVM product. [...]

Product Manager Position

WAV Group has been commissioned by LPS Real Estate Group to hire a Product Management position located in Orange County, California for their rDesk platform. The ideal candidate for this position will be an enthusiastic individual that possesses that rare but valuable mixture of intellectual curiosity, business acumen, marketing savvy, technical proficiencies, strong communication skills, and attention to detail.  They will be able to drive a team to rally around a vision of a platform that uniquely meets the needs of real estate consumers and real estate practitioners better than its competitors. […]

By |2018-05-03T21:25:32+00:00August 5th, 2011|Clients, Main category, Product Management|0 Comments

LPS going to bat for Franchise Organizations

In an op ed column released today, LPS suggests that NAR’s MLS Policy Committee made a poor choice in forbidding Franchises (like Century 21, Coldwell Banker, RE/MAX, Keller Williams, et al) from allowing them to display advertising around IDX listings. Here is the article   Why the NAR’s IDX Policy Kills Competition By Shiraz Vartanian With the publication of the NAR Handbook on Multiple Listing Policy in January of this year, the National Association of REALTORS policy has changed to now allow national franchisors to index IDX listings on their Websites. While this is a positive development - and one that [...]

By |2018-05-03T21:25:44+00:00April 13th, 2011|Main category|0 Comments

LPS Granted License to Sell RPR RVM(TM) Product to Lender Community

Lender Processing Services announced a new valuation model for Lenders that brings listing and pending-sale data into the AVM equation.  The mortgage and real estate services provider has struck an agreement with the National Association of REALTORS to productize MLS data derrived from the REALTOR Property Resource (RPR) to create derivitive products for Lenders. In this case, LPS is offering a product called the LPS REALTOR Valuation Model or (RVM) According to the release, LPS plans to leverage this information to expand the reach of traditional automated valuations. In a quote, Rober Walker, managing director, valuations for LPS Applied Analytics [...]

By |2018-05-03T21:25:59+00:00October 26th, 2010|Main category|1 Comment

LPS launches ClosingStream 2.0 and completes First online loan mod!

Lender Processing Services (LPS: 26.54 -0.23%) said it completed the first electronically signed and submitted loan modification through the Home Affordable Modification Program. LPS provides a suite of mortgage technology and real estate services, which includes the development of ClosingStream 2.0. The servicer, which was not identified by LPS, electronically created modification documents to a borrower through the Web-based tool. The borrower then reviewed, signed and returned the documents to the servicer in four hours. According to LPS, the manual process can take as long as two weeks, an estimation far below the experience at some servicing shops and the Treasury’s [...]

By |2018-05-03T21:25:59+00:00October 25th, 2010|Main category|0 Comments