Paperless real estate initiative takes off

Inman News has launched an industry-wide education initiative aimed at promoting the paperless real estate transaction, the independent real estate news service said today.

Ten years ago, in November 1996, Inman News founder Bradley Inman challenged the nation's real estate and technology leaders to use emerging technologies to simplify the real estate transaction for consumers by eliminating unnecessary paper and making the transaction process less cumbersome and easier for everyone i  more...

HUD summit aims to boost Native American home ownership

The Department of Housing and Urban and Development today announced it will host a National Indian Housing Summit and Trade Show in Reno, Nev., next month that highlights the best practices to create more affordable housing on and off reservations and to gather new approaches to help more Native Americans become homeowners.  more...

First Am to close Milwaukee real estate loan services office

First American Corp. plans to close its real estate loan services office on Milwaukee's northwest side by the end of the year, eliminating 169 jobs, the Greater Milwaukee Business Journal reported late Monday.  more...

Fannie Mae offers relief for Hurricane Katrina victims

Fannie Mae is offering mortgage relief for borrowers in Mississippi, Louisiana, Alabama, Florida and other states facing hardships from damage caused by Hurricane Katrina, the mortgage giant announced Monday.

With Fannie Mae's disaster relief provisions, lenders can help borrowers in several ways.  more...

Consumer confidence rebounds

The Conference Board today announced that its consumer confidence index, which had declined in July, bounced back in August. The index now stands at 105.6, up from 103.6 in July.

The present situation index increased to 123.6 from 119.3. The expectations index edged up to 93.7 from 93.2 last month.  more...

RELO changes its name

RELO has announced that its national and global real estate network has a new identity: Leading Real Estate Companies of the World.

Formerly known as the RELO network, the organization encompasses 650 local and regional real estate brands in residential real estate, with 4,700 offices and 120,000 sales associates in the U.S. and 24 other countries.  more...

Reply.com secures $17 million in financing

Reply! Inc., a provider of online real estate marketing services, has secured $17 million in funding to help continue its growth in online real estate, automotive and financial services, the company said today.

The financing was led by BA Venture Partners and includes additional contributions by Orix Venture Finance and private investors led by Reply! CEO Payam Zamani.  more...

Overnight real estate rates stuck in neutral

Long-term mortgage interest rates were unchanged Monday, and the benchmark 10-year Treasury bond yield slipped to 4.17 percent.

The 30-year fixed-rate average remained at 5.31 percent, and the 15-year fixed-rate stayed at 4.91 percent. The 1-year adjustable was up at 3.88 percent.

The 30-year Treasury bond yield sank to 4.36 percent.

Rates are current as of 7:15 p.m. Eastern Standard Time.  more...

RealEstate.com to enter brokerage business

RealEstate.com, the online real estate portal owned by LendingTree, is planning to enter the real estate brokerage business in select markets during the first half of 2006, company officials said today.

The company did not disclose exactly how many brokerage offices it plans to open, but said it will be a simultaneous launch in likely two or three markets in the Northwest.  more...