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RPR a threat to brokerages’ mortgage operations?

Consultant's blog post fuels debate over use of MLS data

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A consultant's suggestion that listing alerts powered by data multiple listing services provide to Realtors Property Resource could help lenders take business away from real estate brokerages' own mortgage operations has sparked an ongoing debate over the use of MLS data.Last month, real estate information and technology firm Lender Processing Services Inc. (LPS) announced a new service, which provides loan servicers with a notification when a property in their loan portfolio is listed in an MLS. The "It's Listed!" alerts rely on MLS data from RPR, a National Association of Realtors subsidiary. In a blog post Friday titled "WTF RPR?" Brian Boero, a principal of real estate marketing, design and strategy firm 1000watt, said the deal means the brokers who own those MLS listings may "get hosed." "What can happen here, in consequence if not intent, is that broker listings are enabling lenders to capture mortgage business 'upstream' from brokers' own mort...