Kiavi, one of the nation’s largest private lenders for residential real estate investors, closed a $350 million unrated securitization of residential transition loans (RTLs), the company announced on Monday. The loans bundled in the securitization were mostly investment property loans used for fix-and-flip transactions. This securitization marked Kiavi’s 16th such transaction and elevated the company’s […]
Compass has added two top New York City agents, Tom Postilio and Mickey Conlon, to its roster, the company announced on Thursday. The pair joined Compass after spending almost nine years at Douglas Elliman, where they were founding members of the sports and entertainment division. Postilio and Conlon are known for their roles on Page […]
Opendoor and eXp Realty officially launched their new partnership on Thursday, Inman first reported. This integration is making Opendoor cash-offer solutions available to eXp Realty’s nearly 90,000 agents. Last October, the iBuyer announced that it was teaming up with eXp Realty to be the primary cash-offer solution powering eXp’s ExpressOffers platform. With this integration, eXp […]
Sahil Chhabra is bringing his 21-agent team, the Chhabra Group, to eXp, as a so-called “mega team,” the brokerage announced on Thursday. Based in Calgary, Alberta, the Chhabra Group was previously affiliated with RE/MAX. Conversations with eXp top producers Justin Havre and Ibrahim Hussein informed Chhabra’s decision. Since joining the real estate industry in 2020 […]
Mortgage rates continued to trend up this week and dampen homebuyer momentum. The 30-year fixed-rate mortgage averaged 6.94% as of Feb. 29, an increase from last week’s figure of 6.90%, according to Freddie Mac’s Primary Mortgage Market Survey released on Thursday. Meanwhile, the 15-year fixed rate averaged 6.26% this week, down from 6.29% during the […]
January pending home sales leveled off after December’s surge but remained steady. The softening in sales was primarily a factor of wintry weather rather than declining demand, according to Bright MLS chief economist Lisa Sturtevant. Pending home sales dropped 4.9% month over month in January, according to the newest data from the National Association of […]
Independent brokerage Howard Hanna Real Estate Services has partnered with Zillow’s ShowingTime+ to allow agents in the Cleveland and Pittsburgh areas to leverage the Listing Showcase tool. Launched in June 2023, Listing Showcase is an AI-powered listing tool available exclusively on Zillow. It enables agents to differentiate themselves through original presentations of their brand and […]
EasyKnock completed a $28 million Series D funding round, the company announced on Wednesday. Northwestern Mutual Future Ventures, the venture capital arm of financial services company Northwestern Mutual, joined as an investor in this round. With its newest influx of capital, EasyKnock aims to advance the development of its platform by honing its suite of […]
Higher interest rates in recent weeks have made a dent in housing activity, bringing down mortgage demand. Mortgage applications decreased by 5.6% on a seasonally adjusted basis during the week ending Feb. 23, according to the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey. “Higher rates in recent weeks have stalled activity, and last week […]
Real estate brokerage Redfin revealed signs of progress in its fourth-quarter 2023 earnings report, signaling a potential turnaround after facing challenges earlier in the year. Fourth-quarter 2023 revenues at Redfin fell 2% year over year to $218.1 million, down from $222 million in Q4 2022. The company reported a net loss of $23 million in the […]
Financial services consulting firm ThoughtFocus appointed Santhosh Ananthakrishnan to the position of chief business officer. In his new role, Ananthakrishnan will oversee growth strategies and report directly to ThoughtFocus CEO Shylesh Krishnan. “I am very impressed with the rich portfolio of long-term customer relationships that the firm has built,” Ananthakrishnan said in a statement. “The culture of […]
At the 2024 Keller Williams Family Reunion event in Las Vegas, co-founder and executive chairman Gary Keller took the stage on Tuesday and spoke to a room full of real estate agents about the importance of buyer agency agreements within the context of the ongoing antitrust lawsuits. Among other services, buyers’ agents help clients navigate the […]
Home prices maintained their momentum in late 2023. The S&P CoreLogic Case-Shiller U.S. National Home Price Index posted a 5.5% annual gain in December, up from a 5.1% gain in November, according to the latest report. For the first time in 2023, all 20 markets reported yearly gains, with four markets rising over 8%. The U.S. […]
Real estate platform Livian has recently acquired four additional teams to bolster its roster to a total of 61 teams. Livian now has teams in 27 states, amounting to more than 475 agents nationwide. “We’re bringing together the best minds in the industry to elevate our services and redefine the future of real estate,” Adam Hergenrother, […]
CoreLogic promoted Kevin Greene to the role of executive general manager of its real estate business segment, the company announced on Monday. In this new capacity, Greene will oversee operations, sales and customer service efforts, working to empower CoreLogic’s MLS clients. Greene will report to Devi Mateti, president of the enterprise digital solutions team. “I […]
The cost of owning a condominium in Florida has shot up significantly in recent months, prompting a wave of homeowners to offload their properties. The cost of homeowners insurance has surged in Florida as insurance companies have grappled with significant losses due to an increase in natural disasters. The average cost of a policy increased […]
New-home sales reached a seasonally adjusted annual rate of 661,000 in January, according to data published Monday by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development (HUD). While this figure represents a 1.5% increase from the revised December rate of 651,000, it falls slightly below market expectations. It also marked […]
In December 2023, a startling rumor started to spread on social media — that large institutional buyers had purchased 44% of the available homes on the market in 2023, leaving policymakers concerned with the potentially predatory grip of these entities. HousingWire lead analyst Logan Mohtashami immediately debunked the claim. In fact, a recent study published […]
Revenue rose at eXp World Holdings during the fourth quarter of 2023, but the firm was unable to overcome a slow housing market, resulting in a $21 million loss and slower agent count growth. Revenue at the parent company of eXp Realty was up 5% year-over-year to $983 million during the fourth quarter of 2023, […]
Delinquencies improved in January, highlighting the resiliency of U.S. mortgage holders. The national delinquency rate fell to 3.38% in January, down from 3.57% in December, according to the Intercontinental Exchange (ICE) First Look Mortgage Performance report. The rate remained flat on a year-over-year basis and was the lowest recorded since October. The rebound was anticipated […]
