REIPA Fact Sheet      
 

The Real Estate Information Professionals Association (REIPA) is a national, independent coalition of companies founded in 1995 and dedicated to representing the interests of professionals and corporations involved in REI commerce.   

The old lines differentiating information providers and information users no longer apply. Soon, electronically-driven transactions will connect an array of participants in a comprehensive, integrated network. This convergence within the industry has created a distinct need for a new forum representing the diverse participants in the Real Estate industry.   

REIPA provides an industry forum for the creative exchange of ideas and discussion of issues pertinent to our business climate. Professional development, legislative tracking/governmental relations, the development of industry standards and keeping abreast of technical advances are benefits of REIPA membership. 

The Collateral Assessment and Technologies Committee (CATC) is an organizational unit of REIPA. The CATC charter was approved by REIPA Board of Directors in March 2004 with its leading Automated Valuation Model (AVM) provider members serving as the founding committee members. The CATC is made up of the following companies: Countrywide, DataQuick Information Services, Fidelity National Information Solutions, First American CoreLogic, Fiserv CSW, Freddie Mac, R.J. Peters Associates Inc./AV Max, TransUnion Settlement Solutions, Veros Software and Zaio, Inc.- Kirchmeyer Division/Real Info Division. 

Of all the recent changes technology has fueled, one of the most significant changes for the mortgage industry has been the emergence of AVMs. The committee will address the need within the industry for clarity of AVM modeling, and consistency in scoring to more accurately test, analyze, understand and maximize utilization of the technology.

What is REIPA’s Mission?

REIPA’s mission is to represent the interests of all those engaged in reshaping the future of the real estate information industry, to provide information about the changing face of the industry and to provide a standard to ease the process of integrating the disparate real estate technologies into a comprehensive, integrated network. 

What is CATC’s Mission?

The mission of the Collateral Assessment and Technologies Committee (CATC) is to promote and coordinate Automated Valuation Models (AVM) standards and procedures that will significantly enhance the understanding and acceptance of AVMs in the mortgage industry, while forging strong alliances between AVM developers and AVM users to foster the development of solutions for this industry. 

Who is Eligible For Membership

Subject to the approval of the Board of Directors, membership in the Association shall be available to all firms actively involved in, associated with or having an interest in, the provision and/or sale of real estate information or information services or other information products. Such approval of membership is in the sole discretion of the Board of Directors.

What are the Benefits of Membership?

REIPA’s focus can be classified into five areas:  

• REIPA provides a forum for professional networking so that our members can discuss relevant industry issues and develop mutually-beneficial solutions to the challenges facing us.
• REIPA monitors legislation nationally through our Legislative Tracking System. The tracking system keeps members informed of legislative actions that might affect your business.
• The prolific governmental legislation and regulation dealing with public records, privacy issues, intellectual property rights, and other facets of our industry has made the need for improved government relations a top priority of REIPA. REIPA members are often called upon to testify on behalf of the industry in regulatory or legislative hearings.
• REIPA has a number of goals regarding industry data standards. The Collateral Assessment and Technologies Committee provides a forum for the continuing discussion of standards implementation in the real estate industry. Currently, REIPA is focusing its attentions on promoting and coordinating AVM standards and procedures that will significantly enhance the understanding and acceptance of AVMs in the mortgage industry. REIPA provides its members with newsletters and publications to allow them to keep up with industry news and events. Members receive routine Email notices and Web site postings to keep them aware of this news. In all areas, a primary goal of REIPA is to strive to further the fair and efficient dissemination of real estate information.

How Do I Join?

All applicants for membership must complete, sign and submit to the Association’s principal office, the application form provided by the Association. 

Membership applications and requirements are available at www.reipa.org or by calling 919.459.2070. Membership is company based and dues are collected annually in January. Membership dues are $1,595 and include an unlimited number of representatives. 

What are the Terms of Membership?

All candidates for admission in the Association shall subscribe to and agree to be bound by the Certificate of Incorporation, the Bylaws of the Association and such other terms of membership as the Board of Directors shall determine, from time to time, and shall agree to pay the prescribed dues and fees.

Any member may resign by filing a written resignation with the Board of Directors; however, resignation shall not relieve a member from liability for the full amount of the current year’s dues, as well as any additional expenses that are accrued and unpaid as of the date of resignation.  

The Board has the power to establish dues as a condition of membership in the Association. The Board also shall have the power to establish fees for other services or products supplied by the Association. The Board shall have the sole responsibility for setting the amount and time for payment of any dues and fees.  

Any member may be suspended, expelled or dropped from membership for: (a) nonpayment of dues as provided in Article III, Section 2 of the bylaws or (b) other good cause by a two-thirds vote of the Board of Directors. Any member proposed for suspension or expulsion for any reason, other than delinquency in the payment of dues, shall be given advance written notice, including the reason for the proposed action.  The member shall then be given an opportunity to contest the proposed action in writing, or in person, before the Board of Directors. Final written notice of the Board’s decision will be given to the member. 

Any member of the Association who is delinquent in dues or fees for a period of ninety (90) days shall be notified of the delinquency and suspended from membership. If dues are not paid within the succeeding thirty (30) days, the delinquent member shall forfeit all rights and privileges of membership, including the rights to attend any meeting of the Association and to vote on any Association matter and shall be dropped from membership. No dues or fees will be refunded, except in circumstances determined by the Board of Directors.