Industry News

While 10 of the 12 Federal Reserve Districts reported a slight to modest rise in overall economic activity, eight said the residential real estate market was either unchanged or down, according to the latest Beige Book report.

The National Federation of Independent Business May Jobs Report showed that the Small Business Employment Index was nearly flat, registering 100.3 after coming in at 100.4 in April. It is the third straight month in which the Index has declined.

The research, conducted by First American Data & Analytics and DealGround, found adoption of artificial intelligence in commercial real estate is rising, but the technology has yet to earn a trusted role in high-stakes decision-making.

Luther Davis, an ex-University of Alabama football player, is charged in connection with a loan fraud scheme where he impersonated multiple NFL players. The case is an example of the ongoing deed fraud threat that homeowners need to keep on their radar. Edward McDonnell, CEO of McDonnell and Associates in Columbia, S.C., knows first-hand that this type of criminal activity is far from unusual. He discussed his experience and shared advice.

Clear Title Agency has a new branch that will provide title and escrow services to real estate agents, lenders, investors and homeowners in the growing West Valley region.

Taylor Morrison Home Corp. and Berkshire Hathaway Inc. announced they reached a deal in which Berkshire Hathaway will acquire Taylor Morrison. The transaction is expected to close in the second half of the year, subject to customary closing conditions.

D.R. Horton Inc. reported its net income during the second quarter declined by 20 percent year-over-year and earnings per diluted share decreased by 13 percent in the same time frame.

With older Americans staying in their homes longer than in previous generations, National Association of Home Builders Chairman Bill Owens said it is “more urgent” to take steps to expand the housing supply.

The U.S. House voted 396-13 to pass its amended version of the 21st Century ROAD to Housing Act, sending the act to the Senate for approval. The National Association of Realtors and the Mortgage Bankers Association released statements of support following the act’s passage.

In a recent white paper, RecordsOnline leaders said they believe that artificial intelligence’s (AI) role is title work is to do the research while the examiner makes the judgment. “AI without an examiner in the loop isn’t a title product. It’s a liability. We built the loop,” Celia Flowers, founder of RecordsOnline, said.