A new $100M credit facility with Texas Capital Bank will enable vacation home loans to be originated by a 3rd party, then securitized and sold to investors in non-qualified mortgages
Ally, which originated $1B in mortgages in 2023 through a partnership with Better and is an investor in the company, is laying off hundreds of employees and exiting the mortgage business
HomeLight CEO Drew Uher says he's glad to be out of the mortgage business. Fathom CEO Marco Fregenal sees the value of being in lending 'in a very selective way' to help agents close deals
According to Mike DelPrete, high debt, low cash and a lack of profitability in its business model call into question Redfin's current trajectory and its plans for the future
Zillow is shoring up its Home Loans business by ratcheting up pressure on Flex agents, who refer clients to the mortgage arm or risk losing future leads, real estate advisor Mike DelPrete writes
The portal giant brought in $435M in revenue during the fourth quarter of last year and lost $72M, according to 4Q22 earnings released Wednesday afternoon
The real estate brokerage and tech platform is accelerating cost cutting after posting a $6M third-quarter loss, with revenue up 10.2% to $111.3M and agent count up 33% to 9,991
Loan officers tapped to handle major lender’s new Digital Mortgage product