The owner of NRT, America's largest real estate brokerage, plans to launch a high-tech mortgage business, believing the new firm will give a leg up to NRT agents. Realogy Holdings Corp. has formed an agreement to launch a joint venture with mortgage company Guaranteed Rate Inc. The new company will be called Guaranteed Rate Affinity, and will replace a previous joint venture between Realogy and PHH Mortgage. Guaranteed Rate Affinity is expected to open its doors in June of this year. The joint venture will "elevate" the overall "real estate agent value proposition" of agents who work at NRT, Realogy's company-owned brokerage arm, NRT CEO Bruce Zipf said in a statement. Nearly 50,000 agents work at NRT, which owns and operates many Coldwell Banker Real Estate and Sotheby's International Realty offices. NRT also operates The Corcoran Group, Citi Habitats and ZipRealty. Guaranteed Rate Affinity "will originate and market its mortgage lending services" to NRT an...
- Realogy Holdings Corp.'s new joint mortgage venture with Guaranteed Rate Inc. would market its services to NRT, which is America's largest brokerage and is owned by Realogy.
- If the deal goes through, "Guaranteed Rate Affinity" would replace Realogy Holding Corp.'s previous joint mortgage venture with PHH Mortgage.
- Realogy Holdings Corp. appears to have select Guaranteed Rate as a partner due, in part, to the mortgage company's technology, which it believes could increase the "value proposition" of NRT agents.
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