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How a transparent marketplace provides a proven path to benefit homeowners

The journey to a more transparent marketplace can start with mortgage servicers who go above and beyond simply suggesting a pre-foreclosure sale to distressed…

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Selling pre-foreclosure is often the best option for distressed homeowners who don’t qualify for any loss mitigation programs, but those homeowners are understandably hesitant to choose that option and often end up choosing it when time is running out. 

That makes those homeowners susceptible to predatory behavior by some buyers operating in the pre-foreclosure marketplace, behavior that has been chronicled in several prominent, recent news stories.

Given this pre-foreclosure paradox, mortgage servicers and government policymakers are forced to walk a thin line: nudging distressed homeowners toward making a choice that’s in their best interest while also arming them with the knowledge and resources they need to be protected in the pre-foreclosure marketplace.

Walking that thin line is becoming increasingly important as more distressed sales are pushed up-funnel into the pre-foreclosure marketplace — a trend that began developing about 10 years ago and has accelerated in earnest over the last two years.

Pre-foreclosure momentum

“If you’re experiencing long-term financial hardship and cannot afford your monthly mortgage payments, selling your home may be the best option,” explains a US Bank video that walks this thin line. “Our goal is to help you avoid a foreclosure sale while protecting your credit score and preserving your equity.”

Even the Consumer Financial Protection Bureau (CFPB) has weighed in, with a January 2023 blog post titled “For many struggling mortgage borrowers with home equity, selling their home could be an alternative to foreclosure.”

In its first paragraph, the CFPB blog post encourages mortgage servicers to provide distressed homeowners with a nudge toward a pre-foreclosure sale.

“Servicers can remind homeowners that a traditional sale might be one option to avoid foreclosure. … And servicers may want to suggest homeowners contact a real estate agent if the distressed homeowner is considering selling their home.”

The pitfalls of pre-foreclosure

The CFPB blog post doesn’t touch on the potential for predatory behavior in the pre-foreclosure marketplace. Those dangers can be found in recent headlines from the New York Times and ProPublica.

A July 2022 article in The New York Times traces how one man’s New York city real estate empire was allegedly built through a practice called deed theft, often targeting homeowners facing foreclosure.

“(Prosecutors and homeowners) have accused him of fraud: offering to help homeowners facing foreclosure by arranging to pay off their mortgages, while actually tricking them into signing over their buildings at bargain-basement prices. In nearly every case, the mortgage was never paid, leaving the homeowner with no property but a pile of debt.”

A May 2023 ProPublica article details how the self-proclaimed “largest homebuyer in the United States” is training its franchises to target and sometimes take advantage of distressed homeowners who are in pain. One of those sources of pain is a “looming foreclosure.”

Myriad manifestations of fraudulent and predatory behavior emerged during the five-year slide in home prices following the 2008 crash. One prominent scheme involved unlicensed “short sale facilitators” charging upfront fees to distressed homeowners and often representing “straw buyers” with lowball offers. Ethical concerns even arose for licensed real estate agents who approached distressed homeowners to list properties even though those agents were also representing prospective buyers.

A growing pre-foreclosure market

While it’s hard to quantify the prevalence of such predatory behavior, the opportunity for it is growing as the pre-foreclosure market grows. An Auction.com analysis of public record data from ATTOM Data Solutions found more than 150,000 pre-foreclosure sales nationwide in 2021, up 37% from 2020 to the highest level since 2014. Pre-foreclosure sales were defined as properties sold via an arms-length sale where a public foreclosure notice was filed prior to the sale, excluding foreclosure auction sales.

By comparison, only 33,000 properties were sold at foreclosure auction in 2021, the lowest level since 2003. That’s not too surprising given the pandemic-triggered nationwide foreclosure moratorium on government-backed mortgages (excluding vacant properties) that was in effect through the end of 2021.

But even after the foreclosure moratorium expired, pre-foreclosure sales continued to far outpace foreclosure auction sales. In 2022, there were nearly 142,000 pre-foreclosure sales compared to about 38,000 foreclosure auction sales and about 40,000 sales of bank-owned (REO) properties. That means pre-foreclosure sales accounted for 64% of all distressed property sales in 2022, the highest share on record.

Nudges from mortgage servicers are likely contributing to the growth in pre-foreclosure sales, but proactive marketing to distressed homeowners by prospective buyers is also a likely contributor.

“Our team tries to make every effort to purchase the properties on the front side,” said Mary Tritt, managing broker at Tritt Realty, a Carrollton, Georgia-based company that buys and renovates distressed properties. “When the (foreclosure auction) list comes out, us as well as other investors are trying to knock on the door, we’re trying to speak with those homeowners to see if there is anything that we can do to purchase the property before it actually goes to foreclosure.”

Tritt said her goal is to help the homeowner avoid foreclosure while also selling the property for “top dollar.” She will offer to list the home for sale on the MLS if there is enough time before the scheduled auction. But she noted that not all investors operate this way.

“Many times, we’ll find the sellers will try to sell their properties to an investor who’s come through and offered some too-good-to-be-true number only to find out that investor doesn’t have the money to purchase it and save the property before it goes to foreclosure auction,” she said. “So, we try to advise against that. Whether or not someone sells to us or to someone else, we’re just making sure that they truly understand the process and how to save the property or sell the property before it goes to auction.“

Price realization for pre-foreclosures

A deeper dive into pre-foreclosure sale data reveals that while many of these properties may have equity on paper, most are still selling well below their estimated after-repair market value. An analysis of more than 40,000 pre-foreclosure sales that occurred between 2018 and 2023 — after previously being scheduled for foreclosure auction on the Auction.com platform — shows the properties sold for 18% below their estimated after-repair market value on average.

While some discount below market value is to be expected with these properties — many are in distressed condition due to deferred maintenance — a look at the discount by buyer type indicates that some buyers are getting a bigger discount than others.

About one-third of the pre-foreclosure sales went to buyers identified in the public record data as institutions, including companies, corporations and limited liability companies. These institutional buyers purchased pre-foreclosure properties for 30% below estimated after-repair market value on average.

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There are good reasons why institutional buyers might buy pre-foreclosure properties at a deeper discount. Institutional buyers are typically willing and able to take on more highly distressed properties in need of substantial renovation that an individual buyer may be hesitant to tackle. And institutional buyers can often provide more flexibility in terms of a graceful exit for the current occupant of a pre-foreclosure property.

Still, the opaque nature of the pre-foreclosure space may be enabling some institutional buyers to make off-market, lowball offers that distressed homeowners accept without listing the property in a transparent marketplace like the multiple listing service (MLS) or the robust foreclosure auction environment created by companies like Auction.com.

“Auction.com hinders my in-person auctions by advertising the available deals to the general public … (which) only drives up the price at auction,” wrote one buyer in response to a Auction.com survey sent out in March 2023.

Mary Tritt’s husband, Tony, has been investing in real estate in his local market west of Atlanta for more than 20 years. He’s seen the foreclosure auctions disrupted by transparent marketplaces like Auction.com, but recognizes that disruption is good for the market even if it may mean higher acquisition prices for him.

“Let’s face it, the auction industry, in general, has utilized online platforms to bring higher bidding on every widget imaginable. I’ve seen it firsthand play out in the housing market, specifically at non-judicial foreclosure sales and bank-owned REO auctions,” he said, adding that the disruption can also create efficiencies for his business. “An ideal scenario would be for all properties to land within the Auction.com platform, then I could cover more counties on foreclosure day, with far less labor!”

Democratized with transparency

Just as the previously opaque foreclosure auction marketplace has been democratized with transparency, inclusion and innovation over the past decade, so can the pre-foreclosure marketplace be democratized. The journey to a more transparent marketplace can start with mortgage servicers who go above and beyond simply suggesting a pre-foreclosure sale to distressed homeowners.

To help these vulnerable homeowners, servicers can provide them with a proven path to getting the highest and best offer for their home. In the distressed property world, that proven path involves some combination of listing the property for sale on the retail (MLS) marketplace and putting it up for auction on a competitive platform that is likely to receive multiple, competing bids from buyers who are experienced in dealing with distressed properties and distressed homeowners.

Local community developers like Mary and Tony Tritt understand that a more transparent pre-foreclosure marketplace will result in more competition from other buyers, but they also understand more competition will result in better outcomes for distressed homeowners and help winnow out bad players.

“While I realize that aggressive marketing of pre-foreclosures will inhibit our opportunities from both the pre-foreclosure perspective as well as at the foreclosure sale, I also recognize that the long-term health of our industry along with the specific outcomes for distressed owners will likely be markedly improved,” Tony said. 

Proven pre-foreclosure path

The dual-marketplace approach has produced optimal outcomes for both servicers and borrowers in a pre-foreclosure sale program created by Auction.com called the Market Validation Program (MVP). It allows servicers, in cooperation with distressed borrowers, to post properties on Auction.com that are also listed as short sales on the MLS.

While the MLS produced the highest and best offer about 60% of the time in MVP, nearly 40% of the properties got a higher offer from the Auction.com platform. And those higher offers were often substantially higher — an average of $44,000 (19%) above the MLS offer.

That’s likely the case for two reasons: first, not all properties are promptly listed on the MLS by the listing agent. The Auction.com data shows 47% of properties in the MVP program were not yet listed in the MLS when they were referred to Auction.com. The second likely reason for the higher auction offers:  Some pre-foreclosure properties are a better fit for the local community developers using the Auction.com platform than the retail buyers dominant on the MLS.

“The last one I purchased was a short sale, which was a first for me with Auction.com,” said Karen Tyler, owner of Prodigy Realty in Virginia Beach, Viriginia, of an MVP purchase. “I didn’t even know it was a short sale listed on my own MLS because that particular property was not something I would look at for an investment property through the MLS. But if it’s an Auction.com property, I actually pay a little more attention to it.”

Uncovering hidden equity

Furthermore, 6% of the winning bids on Auction.com resulted in a full payoff of the mortgage in foreclosure. That means the property did not sell as a short sale as expected and the distressed homeowner was able to walk away with something to show for the equity uncovered by the power of dual transparency.

“Elated,” said homeowner Pam Mormino, whose home sold via the MVP program for $46,000 above the highest MLS offer and more than $40,000 above the total debt owed on the mortgage. “It really relieved so much stress on me.”

The higher offers on the Auction.com platform also stem from a more consistent level of competition in than in the retail, MLS marketplace. Competition in the retail marketplace tends to be more volatile, subject to market conditions such as rising mortgage rates. Over the past four years, 80 and 90% of all bank-owned (REO) auctions on Auction.com receive bids from multiple, competing bidders, while the share of MLS properties with multiple offers has ranged from as low as 40% to as high as 74%, according to an analysis of data from Redfin.

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Beloved regional retailer files Chapter 11 bankruptcy

The company will be closing some stores as it fights to survive in a tough retail environment.

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The covid pandemic hurt a lot of retailers. In some cases, that was a short-term thing. Customers could not visit during the lockdown periods and that forced people to shop elsewhere.

In some segments, we thought that just because covid forced people to change their behavior did not mean that those changes were permanent. That was a lesson learned by companies like Peloton which saw a boom during the darkest "stay at home" covid days.

People like working out in gyms and it turned out that once it became safe to be in public places crowded with people, the demand for Peloton dropped too. That was true for streaming services as well. 

When we were all stuck at home any new programming was valuable. But as the world opened back up, many Americans realized that they may want some streaming services, but they no longer needed to pay for all of them.

In some cases, people's behavior did permanently change. Americans, for example, are much less willing to go to a movie theater. That seems like an acceleration of a trend that started before the covid pandemic. Watching movies at home showed us that, aside from big blockbusters or Taylor Swift concert movies designed to be a communal experience, most films did not need to be seen in a theater.

Covid also forced a lot of diehard book fans to consider their digital options. Many people who had argued for the joy of holding a physical book realized that being able to download any book to their phone from anywhere had its pluses as well.

That's not good news for bookstores and one popular regional chain has filed for bankruptcy and plans to close some of its stores.

Bookstores struggled during the pandemic because many had to close for weeks or even months. 

Image source: Benedikt Geyer from Pixabay

Regional bookstore chain declares bankruptcy      

While for a time it seemed like digital books would make printed books obsolete, that has not happened. Actual books actually still outsell their digital counterparts, but any e-book sold is a book not sold by a bookstore.

And while some regional bookstore chains have thrived and even Barnes & Noble has found its footing, selling books is a very tough business. Digital books are cheaper than printed books which makes many people visiting bookstores browsers who intend to purchase elsewhere.

That's a very tough operating environment. One regional bookstore chain, Tattered Cover, has filed for reorganization under Chapter 11 Subchapter V in the U.S. Bankruptcy Court for the District of Colorado. The company "owes more than $1 million to publishers, as well as more than $375,000 to Colorado's Office of the State Auditor for abandoned gift cards," Publisher's Weekly reported.

Subchapter V is specifically for small businesses. Tattered Cover believes it can use the filing to obtain new funding up to $1 million from a new company formed by investors and some of its current board. 

That money would be a lifeline, allowing Tattered Cover, which operates seven locations, to purchase inventory for the upcoming holiday season among other uses," according to a company statement.

The chain expects to close three of its bookstores as part of the restructuring.

“Our objective is to put Tattered Cover on a smaller, more modern and financially sustainable platform that will ensure our ability to serve Colorado readers for many more decades,” Brad Dempsey, who became CEO of the company in July, shared in a statement. "Restructuring for long-term viability requires managers to make very difficult business decisions that affect people and business partners, and we intend to do what we can to minimize these impacts."

Tattered Cover intends to honor all gift cards. All of its changes and decisions require the approval of the bankruptcy court.  

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Texas A&M receives over $1 million in USDA grants to study SARS-CoV-2 in deer

Texas A&M University scientists and research partners have received two National Institute of Food and Agriculture (NIFA) Agriculture and Food Research…

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Texas A&M University scientists and research partners have received two National Institute of Food and Agriculture (NIFA) Agriculture and Food Research Initiative (AFRI) grants to study the spread of SARS-CoV-2 in deer. These funds will help researchers understand the impact of the virus in Texas’ deer populations and its relationship to human and ecological health.

Credit: Sarah Hamer/Texas A&M University School of Veterinary Medicine and Biomedical Sciences

Texas A&M University scientists and research partners have received two National Institute of Food and Agriculture (NIFA) Agriculture and Food Research Initiative (AFRI) grants to study the spread of SARS-CoV-2 in deer. These funds will help researchers understand the impact of the virus in Texas’ deer populations and its relationship to human and ecological health.

For these projects, the research team will focus on captive deer, which are an agricultural species in Texas, including managed deer that live on large, rural properties enclosed by fences, as well as on the wild deer with which captive deer may interact and deer living in zoos and wildlife centers. 

Understanding The Ecology Of Disease

The first $800,000 USDA grant will fund a multifaceted three-year project designed to help scientists understand how the virus that causes COVID-19 spreads among deer and, for the first time, how the SARS-CoV-2 virus has impacted overall deer health.

What makes the study unique is its focus on understanding disease in the context of whole ecological systems, examining not only how captive deer interact with each other, but also how the diverse wild and captive animal community may interact with the deer. For example, the study will investigate patterns of infection among captive deer, the humans who work with the deer, other domestic livestock on the ranches, as well as wild mammals in the environment.

To do this, researchers at Texas A&M will collaborate with the Deer Research Program at the Texas A&M University-Kingsville’s (TAMUK) Caesar Kleberg Wildlife Research Institute, which will help collect the large number of samples needed for the project.

“The first aim of the project is a screening study (testing the deer for SARS-CoV-2) of 30 ranches, farms, or other managed areas with deer across the state, such as safari-style parks and zoos,” said Dr. Sarah Hamer, professor of epidemiology at the Texas A&M School of Veterinary Medicine & Biomedical Sciences (VMBS) and lead researcher for Texas A&M on both projects. “This stage will allow us to see where there has been deer exposure to the virus in the past and where there are active infections.”

The second stage of the project will focus on locations where coronavirus infections are found in deer.

“If we find infected deer, we will then transition to a phase of the study where we can not only re-sample the deer over time to monitor changes in their infection and health, but also sample other farm animals and native wildlife on each property. We will also sample the people on each ranch who regularly interact with the deer,” Hamer explained. “These will most likely be the workers who are responsible for putting out the feed and water for the animals.”

This broader range of samples will help Hamer and the rest of the team learn more about the transmission of the SARS-CoV-2 virus between animals and people that share an ecological relationship. Their approach to consider humans, animals, and the environment was proposed after Hamer’s teams spent more than two years studying the virus among people and their pet dogs and cats in Centers for Disease Control and Prevention-funded research; that research showed that infections were not uncommon among domestic animals that live in houses with active human cases.

The laboratory analyses for the deer project will be overseen by Dr. Gabriel Hamer, professor in the Texas A&M Department of Entomology. 

“Once we detect positive samples for SARS-CoV-2, we will work with partners to sequence the viral genomes across all of the infected species and see how they compare,” he said. “We want to see if we can infer which direction the infection is spreading among deer, other animals, and humans.”

The final part of the three-year project will analyze how overall deer health has been impacted by the virus. 

“Of all four goals, this one is probably the most important for the deer producers,” said Dr. Walt Cook, a clinical associate professor in the VMBS’ Department of Veterinary Pathobiology and co-investigator on the project. “We want to know if SARS-CoV-2 might affect things like body condition, antler growth, and reproduction.” 

The robust captive cervid industry in Texas makes this an ideal state for better understanding how and when the virus infects deer. In comparison to tracking wild deer, the opportunity to study deer belonging to managed herds will allow researchers to answer many of the unknown questions about SARS-CoV-2 and deer health. 

“Most of the existing studies on wild deer rely on hunter-harvested samples,” Sarah Hamer said. “A deer may test positive for a SARS-CoV-2 infection, but at that point, the body has been processed and we can’t know its symptoms or if the virus impacted the deer’s health or fitness in any way.”

“We’re extremely appreciative that producers across the state are allowing us to study their herds so that we can better understand how SARS-CoV-2 is maintained in nature,” Cook said. “We have the opportunity to study the ecology of the disease in real settings across the state to learn about what these animals may be exposed to, while maintaining anonymity (with no information regarding specific test results, locations of properties, or premise ownership being released publicly or to any agency), to benefit us all in the future.”

Because of the project’s unique scope and complexity, the researchers hope to answer questions relating SARS-CoV-2 to many different aspects of human, animal, and environmental health.

“For the last three years, zoonotic disease has brought the world to a halt and impacted virtually every aspect of life on earth,” said Dr. Michael Cherry, a white-tailed deer expert at TAMUK and partner on the projects. “Understanding the ecology of these diseases and how they affect human health, food security, and important sectors of the economy will make us better prepared for future zoonotic outbreaks.”

“The diverse team is one of the unique aspects of this ambitious project,” Cherry said. “Dr. Hamer has pulled together a fantastic team, and I’m happy to be able to contribute.”

Protecting Against Future Outbreaks

The second project, funded by a $650,000 USDA grant and spearheaded by biotech company Ginkgo Bioworks, will include sequencing the RNA of SARS-CoV-2 found in white-tailed deer to better understand which strains are active in deer populations and to track possible mutations so that we can better protect ourselves from future outbreaks of the virus in the human population. 

“Zoonotic research like this is key to helping make informed decisions and avoid future outbreaks,” said Matt McKnight, general manager of biosecurity at Ginkgo Bioworks. “This data and research will provide governments, industry leaders, and academics the information they need to optimize behaviors and provide early warnings to prevent disease spillover.”

The first part of the project entails sampling and testing deer to see if they carry SARS-CoV-2. Once the researchers have the positive samples, they can begin sequencing genomes from the virus samples.

“Our group at Texas A&M will be responsible for working with collaborators to collect samples from deer,” Hamer said. “We’ll also be responsible for the initial screening for SARS-CoV-2. If we find positive samples, we ship them to Ginkgo and they’ll work to sequence the virus and analyze how the sequences compare to those found by others.”

In order to reach the sample size goals for the project, the researchers also are collaborating with the Texas A&M Veterinary Medical Diagnostic Laboratory (TVMDL) to gather samples from deer lymph nodes.

“TVMDL regularly gets samples from both wild and captive deer for chronic wasting disease (CWD) testing,” said Carlos Rodriguez, TVMDL epidemiologist. “The samples often come from hunter-harvested deer, and we are able to repurpose the remaining tissue to contribute to this COVID project.”

Because COVID-19 is resurgent in the human population, projects like this one are important given that scientists are still uncovering new ways that the disease continues to impact the world.

“The public health protective measures that are available for humans — like vaccines and masks — really aren’t options for deer,” Hamer said. “We’re interested to learn under what conditions deer become infected and how long they can maintain the infection in nature. Of course, we’re also interested to study potential onward transmission from deer to other deer, wildlife, or humans in order to learn how that may contribute to the overall ecology of this virus in nature.”

By Courtney Price, Texas A&M University School of Veterinary Medicine and Biomedical Sciences

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Gwangju Institute of Science and Technology scientists develop deep learning-based biosensing platform to count viral particles better

Rapid and on-site diagnostic technologies for identifying and quantifying viruses are essential for planning treatment strategies for infected patients…

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Rapid and on-site diagnostic technologies for identifying and quantifying viruses are essential for planning treatment strategies for infected patients and preventing further spread of the infection. The COVID-19 pandemic has highlighted the need for accurate yet decentralized diagnostic tests that do not involve complex and time-consuming processes needed for conventional laboratory-based tests.

Credit: Professor Young Min Song from GIST, Korea

Rapid and on-site diagnostic technologies for identifying and quantifying viruses are essential for planning treatment strategies for infected patients and preventing further spread of the infection. The COVID-19 pandemic has highlighted the need for accurate yet decentralized diagnostic tests that do not involve complex and time-consuming processes needed for conventional laboratory-based tests.

A popular point-of-care diagnostic tool for quantifying viral loads is bright-field microscopic imaging. However, the small size (~ 100 nm) and low refractive index (~ 1.5, same as that of a microscope slide) of bioparticles such as viruses often makes their accurate estimation difficult and increases the limit of detection (the lowest concentration of viral load that can be reliably detected). Recent studies have found that Gires-Tournois (GT) biosensors, a type of nanophotonic resonators, can detect minuscule virus particles and produce colorful micrographs (images taken through a microscope) of viral loads. But they suffer from visual artifacts and non-reproducibility, limiting their utilization.

In a recent breakthrough, an international team of researchers, led by Professor Young Min Song from the School of Electrical Engineering and Computer Science at Gwangju Institute of Science and Technology in Korea, has leveraged artificial intelligence (AI) to overcome this problem. Their work was made available online on August 24, 2023 and will be published in Volume 52 of the journal Nano Today in October 01, 2023.

The team proposed a synergistic biosensing tool called “DeepGT,” which can harness the advantages of GT sensing platforms and merge them with deep learning-based algorithms to accurately quantify nanoscale bioparticles, including viruses, without the need for complex sample preparation methods.

We designed DeepGT to objectively assess the severity of an infection or disease. This means that we will no longer have to rely solely on subjective assessments for diagnosis and healthcare but will instead have a more accurate and data-driven approach to guide therapeutic strategies,” explains Prof. Song, revealing the motivation behind their study.

The team designed a GT biosensor with a trilayered thin-film configuration and biofunctionalized it to enable colorimetric sensing upon interaction with target analytes. The sensing abilities were verified by simulating the binding mechanism between host cells and the virus using specially prepared bioparticles that mimicked SARS-CoV-2—the coronavirus strain that caused the COVID-19 pandemic.

Next, the researchers trained a convolutional neural network (CNN) using over a thousand optical and scanning electron micrographs of the GT biosensor surface with different types of nanoparticles. They found that DeepGT was able to refine visual artifacts associated with bright-field microscopy and extract relevant information, even at viral concentrations as low as 138 pg ml–1. Moreover, it determined the bioparticle count with a high accuracy, characterized by a mean absolute error of 2.37 across 1,596 images compared to 13.47 for rule-based algorithms, in under a second. Boosted by the performance of CNNs, the biosensing system can also indicate the severity of the infection from asymptomatic to severe based on the viral load.

DeepGT thus presents an efficient and precise way of screening viruses across a broad size range without being hindered by the minimum diffraction limit in visible light. “Our approach provides a practical solution for the swift detection and management of emerging viral threats as well as the improvement of public health preparedness by potentially reducing the overall burden of costs associated with diagnostics,” concludes Prof. Song.

We too hope that this study will enable new AI-powered healthcare technologies that will improve the quality of life of patients across the globe!

 

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Reference

DOI: https://doi.org/10.1016/j.nantod.2023.101968

 

About the Gwangju Institute of Science and Technology (GIST)

The Gwangju Institute of Science and Technology (GIST) was founded in 1993 by the Korean government as a research-oriented graduate school to help ensure Korea’s continued economic growth and prosperity by developing advanced science and technology with an emphasis on collaboration with the international community. Since that time, GIST has pioneered a highly regarded undergraduate science curriculum in 2010 that has become a model for other science universities in Korea. To learn more about GIST and its exciting opportunities for researchers and students alike, please visit: http://www.gist.ac.kr/.

 

About the Author

Young Min Song is a distinguished professor at the School of Electrical Engineering and Computer Science at Gwangju Institute of Science and Technology (GIST). His research interests encompass advanced optoelectronic sensors, multifunctional nanophotonics, and semiconductor devices. He has published more than 150 peer-reviewed research articles, including contributions to prestigious journals such as Nature, Science, and Nature Electronics. His extensive impact is reflected in his Google Scholar profile, which boasts over 10,000 citations and an h-index of 40. He is also an active editorial board member for several respected journals, including IEEE Photonics Journal and Electronics (MDPI), Micromachines (MDPI), and IJPEM (Springer).


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