Rocket back in the black after boosting purchase market share
Detroit-based mortgage giant returned to profitability during the spring homebuying season by slashing costs and boosting its market share in the face of severe inventory shortages
by Matt Carter Aug 4
A 'hyper-authentic approach': Tom Ferry partners with Client Giant
The partnership gives Ferry's network of real estate professionals access to the client satisfaction and retention platform, according to a statement
by Ben Verde Aug 3
Seattle-based regional bank HomeStreet reportedly up for sale
Regional banks have largely weathered the crisis fueled by this year's failures of Silicon Valley Bank, Signature Bank and First Republic Bank by pursuing mergers and boosting deposits through 3rd-party brokers
by Matt Carter Aug 3
Compass hires former Better Homes and Gardens agent
Joseph Magsaysay will join Compass' leadership as the brokerage looks to enhance its luxury presence in Silicon Valley. Magsaysay says he's developed a 'people first' leadership strategy
by Ben Verde Aug 3
Fannie Mae, Freddie Mac boost profits in Q2 despite a slow spring
Mortgage giants Fannie Mae and Freddie Mac continued to grow their net worth as firm home prices and low default rates allowed them to release billions of dollars reserved for losses
by Matt Carter Aug 2
Foreign buyers target high-end homes as transactions fall 14%
The average price of homes sold to foreign buyers was $639,900, the National Association of Realtors said. The median price was $396,400. Both numbers are record highs
by Taylor Anderson Aug 2
A doctor inherited a vacant lot. The home he found there shocked him
Daniel Kenigsberg alleges a series of fraudulent documents led to his land being stolen last fall before contractors built a single-family house on his half-acre of land in Connecticut
by Taylor Anderson Aug 2
Offerpad scoops up more homes in Q2 as path to profitability emerges
Having unloaded almost all of its older inventory, the iBuyer ramped up home acquisitions by 131%, to 840 homes, in the second quarter of 2023 and expects positive adjusted earnings by year's end
by Matt Carter Aug 2
Team of rivals: Zillow, Redfin unite to share new construction listings
New construction listings on Zillow will now automatically be syndicated to Redfin. The companies believe the partnership will extend the reach of the homebuilders' listings while aiding consumers
by Jim Dalrymple II Aug 2
An 'entire neighborhood' for sale? Let's unpack that viral TikTok video
A 35-home listing on Zillow has prompted debate over displacement and institutional investment — and pushback over a TikToker's claim that an 'entire neighborhood' was about to hit the market
by Jim Dalrymple II Aug 2
Fractional investing platform CEO out after investors lose $63M
CrowdStreet CEO Tore Steen ousted after $63M of investor money went missing in a deal that a fiduciary said had ‘plenty of red flags that are indicators of fraud,’ according to reports
by Taylor Anderson Aug 1
New SDAR CEO taking embezzlement suit 'seriously'
Cory Shepard took the reins at the San Diego Association of Realtors last week after now-former CEO Michael Mercurio was accused of stealing over $1M in association funds, the complaint reads
by Jim Dalrymple II Aug 1
Rocket taps veteran fintech exec Varun Krishna as next CEO
In a bold move demonstrating mortgage is just 1 component of a larger fintech strategy, Rocket names former Intuit, PayPal and Microsoft exec to succeed interim CEO Bill Emerson on Sept. 5
by Matt Carter Jul 31
San Diego Realtors face suit over ex-CEO's alleged embezzlement
The suit accuses now ex-CEO Mike Mercurio of using association credit cards for personal purchases, inflating his vacation time, and selling items that the association paid for on eBay
by Jim Dalrymple II Jul 28
Former Keller Williams NYC office auctions for $11.3M
Former Keller Williams NYC market center owners Ilan Bracha and Heim Binstock's battle for their 377 Broadway office is officially over as a new owner snapped it up, according to a report
by Marian McPherson Jul 28
OJO promotes industry veteran Chris Heller to president
Former Keller Williams CEO Heller previously served as OJO's chief real estate officer. Jerimiah Taylor, formerly a vice president at OJO, will step into Heller's previous role, the company said
by Jim Dalrymple II Jul 27