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eXp Realty makes changes to its executive team

Housing Wire

Sean Murphy is eXp’s new senior vice president of commercial growth, while Nadia Habib was promoted to the role of senior vice president to oversee growth in Canada. In 2023, eXp agents closed 355,052 transaction sides, earning the firm the top spot in the RealTrends Verified rankings. 3 spot in the rankings. million in 2022.

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Virtual notary adoption surges as businesses rush to close transactions remotely

Housing Wire

This article was written for FinLedger, HW Media’s new fintech focused news brand designed specifically for financial services professionals in banking, payments, insurance and proptech. A signer such as a customer closing on a loan appears before a notary on a video call and they complete, sign and notarize the document, he said.

Closing 467
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Indie brokerage Nationwide Real Estate Executives joins eXp Realty

Housing Wire

In 2022, his team closed $887 million in sales on 1,091 transactions, with an average home price of $740,000, eXp said in a statement Wednesday. In addition to the brokerage, Owen also owns a property management company, an escrow firm, a commercial real estate arm and a design-and-construction firm.

Brokerage 369
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Purchase orders give boost to Fidelity’s title segment in Q2

Housing Wire

Fidelity’s total commercial revenue was $347 million, an 89% increase year-over-year driven by a 65% increase in closed orders. Total commercial orders opened also increased 58% year over year. Second quarter refinance orders opened and closed both decreased this quarter — 25% and 5%, respectively, on a daily basis.

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Reverse purchase financing: The financing option no one is talking about

Housing Wire

That’s where reverse purchase financing comes into play, the funding option specifically designed for older Americans. For real estate professionals, this option presents an opportunity to capture more sales. They have been able to reach sales goals with relative ease for over a decade.

Finance 437
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FinCEN expands GTOs on all-cash real estate transactions

Housing Wire

The GTOs and the $300,000 reporting requirement were established in 2016 by FinCEN and were originally designed to target shell companies purchasing real estate in Manhattan and Miami. trillion total for existing home sales in 2021. When the ANPRM comment period closed in late February, FinCEN had received over 150 public comments.

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What AVMs can and can’t do in the appraisal process

Housing Wire

AVMs do not consider such things nor can they provide an estimated value to adjust any sales prices. Sometimes there are adverse site conditions for properties, such as busy streets, flood zones, commercial influence, etc. AVMs don’t account for commercial influence. AVMs don’t account for housing trends.