First American partners with risk analysis co.

First American Real Estate Solutions has partnered with Bohan Group, aiming to provide more advanced due diligence services to mortgage investors, the company announced today.

In connection with the partnership, First American has purchased a minority interest in Bohan Group, which provides risk analysis and transaction support services to the capital markets.  more...

Realtor group protests rulings by bank regulator

The National Association of Realtors is protesting rulings by the Office of the Comptroller of the Currency that the trade group says "will inevitably lead to national banks becoming actively involved in real estate development and brokerage." The OCC regulates banking activities.

The Realtor group has fought for years to block federally chartered financial services companies from participating in the business of real estate brokerage.  more...

Resale real estate breaks records in Canada

Sales of existing homes via the Multiple Listing Service set annual records in 2005, according to statistics released today by The Canadian Real Estate Association.

Annual sales via the Multiple Listing Service in Canada totaled 483,250 units in 2005, up 4.9 percent from the 460,791 sales posted in 2004. Led by double-digit gains in British Columbia and Alberta, it was the fifth consecutive year in which unit sales set an annual record.

Annual sales records were set in British Columbia, Alberta, Manitoba, Quebec, New Brunswick and Nova Scotia.  more...

Real estate working group seeks improved data standards

Clareity Consulting, a real estate consulting company, will facilitate a series of meetings this year to improve national real estate data standards and provide more ease of use for real estate technology applications, the company announced today.

The meetings are part of an effort to establish a Real Estate Software Open Standards Work Group, Clareity announced.

The work group grew out of a discussion at an MLS Vendor Technology Summit in Las Vegas organized by Clareity.  more...

Homes.com launches portal for newly built real estate

Homes.com, which offers Internet marketing products and services for real estate professionals, has introduced a new-homes portal to help builders highlight their properties and communities for home buyers searching for homes at the Homes.com Web site.

Homes.com launched this new section at the International Builder Show in Orlando, Fla., earlier this month.  more...

East Coast real estate sales fall

Home sales across Virginia and Massachusetts dropped in December from their year-ago levels, while prices continued to increase, according to the Realtor associations in both states.

In Virginia, 10,565 transactions closed in December, a 10 percent dip from last December's 11,745, according to the Virginia Association of Realtors.

Virginia's median existing-home price for December was $180,260, up 6.2 percent from $169,725 for 2004.  more...

GMAC Real Estate announces record franchise year

GMAC Real Estate's franchise operations division opened up more than 100 offices across the country last year, including franchises, startups and conversions, the company reported today.

The franchise division also saw the launch of its first European franchise: GMAC Imobilaria Portugal, the company announced.

Last year was a record year for the company's franchise division, and Lane Barnett, president and CEO of GMAC Real Estate Franchise Operations, said 2006 should be "another equally impressive year."

"We'r  more...

Former title insurance exec sentenced to prison

The former president of a Missouri title insurance company was sentenced to six years in prison in connection with a $5.7 million mortgage fraud scheme, the St.  more...