New customers and layoffs help Blend approach profitability
In addition to signing a multi-year deal with Pentagon Federal Credit Union, Blend laid off 50 workers in September, or about 9% of its workforce, helping trim expenses by 32%
by Matt Carter Nov 6
Mortgage segment stands tall as Zillow posts revenue growth in Q3
Zillow tallied $581M in revenue between July and September, according to Q3 earnings released Wednesday. Revenue from the portal's mortgage business hit $39M, a 63% increase from 2023
by Jim Dalrymple II Nov 6
LoanDepot is back in the black for the first time since Q4 2021
Beleaguered lender ekes out $2.67M Q3 profit on $315M in revenue, with loan originations up 9% from a year ago as mortgage refinancing bounces back on retreating rates
by Matt Carter Nov 5
Offerpad dialed back its iBuyer acquisitions by 49% in Q3
Having slashed operating expenses by 40% from a year ago, the iBuyer has its sights set on eventually boosting home purchases to 1K per quarter on lower cost structure
by Matt Carter Nov 4
RE/MAX revenue declined 3.4%, US agents continue to depart in Q3
A new quarter saw continuing trends for RE/MAX Holdings in decreasing revenue and US agent count, but the franchisor also vastly improved its net income year over year
by Lillian Dickerson Oct 31
Robert Reffkin compares future of listings to Netflix video streaming
Consumers will one day visit multiple real estate sites, including Compass.com, to find listings in the same way they now search for content on Netflix and Disney+, the Compass CEO predicted
by Jim Dalrymple II Oct 31
Profits roll in at Mr. Cooper as it pursues tech-fueled growth
Deal to acquire Flagstar’s mortgage servicing business later this year is projected to grow Mr. Cooper's customer base to nearly 7M and servicing portfolio to $1.59T
by Matt Carter Oct 23
CoStar acquires management platform Visual Lease
Visual Lease makes a platform serving more than 1,500 corporate clients. The acquisition bolsters CoStar's core commercial real estate business
by Jim Dalrymple II Oct 22