Happy summer! We are continuously working hard to make improvements that will benefit our subscribers in this still difficult market. It’s time to update you on what Realcomp has accomplished mid-year; also inform you of our progress with newer projects. 

Update on Partnership with Fannie Mae

• Earlier this year, we announced a newly formed partnership with Fannie Mae. This relationship was established with the goal of assisting you with problems or delays you may face during the sale of a property that is backed by a Fannie Mae mortgage. We started by giving you access to a link that allows you to search an address to determine that it is a Fannie Mae backed mortgage.
• The next phase included the policy adopted by Fannie Mae which stated “closing of pre-foreclosure sales may not be conditioned upon a reduction of the total commission to be paid to real estate agents to a level below what was negotiated by the listing agent with the borrower, unless the fee exceeds 6% of the sales price of the property in aggregate.”
• Most recently, we introduced a survey giving you the opportunity to report short sale issues to Realcomp on Fannie Mae backed mortgages. These issues will be forwarded to Fannie Mae representatives.

New Realcomp Shareholder

In June, the Board of Governors officially welcomed the Lapeer and Upper Thumb Association of REALTORS^® as Realcomp’s ninth shareholder. What does this mean for you? It means access to more listing data in a standardized format. Also, it means more agents with buyers viewing your listings. We are very excited to add LUTAR as a shareholder and expect to have their members and data converted to Realcomp by August 1st. We are working on some other relationships as well, so stay tuned for those updates in the coming months!

Realcomp’s Public Record Database Enhanced with Property Photos

Realcomp has taken the lead in making property photos available to you from the Public Record Database! Two brand new reports are now available to you from the report drop-down menu that include the property photo (Full Detail Report with Photo and/or Summary Report with Photo). This great new feature will enable you to view exterior photos from PRD for properties that have been listed over the last 5 years. Also, we have added StreetScape images for some properties providing dynamic viewpoints of the property and its surroundings. We will continue to grow this database and improve the matching technology so more photos will become available in the near future. Take a look!

Please let me know how we are doing. I can be reached by email or by phone at 248-699-9120.