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Once at the fringes of housing finance, home equity investment companies look to grow their stake

Housing Wire

In exchange for providing homeowners a lump sum of cash, they receive a share of the home’s future value or future appreciation. “In addition to that, conventional underwriting does not serve the new-age economy such as gig workers, so you are seeing this demand for alternative financing. “And The annual investment volume in the U.S.

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Reverse mortgage veteran offers advice for bringing new partners aboard

Housing Wire

The partner engagement program at Finance of America Reverse (FAR) aims to bring new people and professional relationships into the orbit of the nation’s top reverse mortgage lender, and it is spearheaded by Ryan Schmidt, FAR’s vice president of partner engagement. With the right ambassador, that task is made simpler.

Mortgages 390
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As rising mortgage rates push buyers to the brink, sellers are starting to cut prices

Housing Wire

According to the brokerage, 6.5% And because mortgage rates have been above 7% for about two months consecutively, the cost of financing is extreme. Even with demand buoyed by a sparse housing inventory, growing financial challenges for buyers are forcing home sellers to cut prices to close deals, a new Redfin research report found.

Mortgages 505
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Pop the champagne, Compass hits major financial milestone

Housing Wire

But the Robert Reffkin -helmed brokerage has proved the naysayers wrong, at least for now. billion, which the brokerage attributed to a 19% year-over-year decrease in transaction sides to 54,207, combined with a decrease in the average home sale price, as the brokerage’s gross transaction value dropped 26% year over year to $56.8

Brokerage 369
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Compass cuts losses in Q3, addresses commission lawsuit threat

Housing Wire

The brokerage’s national quarterly market share grew by 26 basis points year over year, reaching 4.4% The company also increased its agents count by 4%, reaching 14,055 principal agents in Q3. million after the brokerage paid its commissions and related expenses. Revenue decreased by 10% year over year to $1.34

Principal 396
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Retail reverse mortgage production took a hit in January

Housing Wire

to 107 loans), Finance of America Reverse (up 17.4% Also noting a spike in business was David Heilman, principal for HomeGrown Financial in Mount Pleasant, South Carolina. “I This is] a much more important signal that reverse is looking up.” The HECM for Purchase (H4P) program also managed to gain ground in January, rising 13.5%

Mortgages 413
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Mark Willis steps back into CEO role at Keller Williams

Housing Wire

Willis joined Keller Williams from Coldwell Banker in 1991, serving in multiple roles during his time with the brokerage. Treble damages could result in NAR and the defendant brokerages paying roughly $5.36 Mark Willis, who served as CEO of Keller Williams from 2005 to 2014, has stepped back into the role effective immediately.

Brokerage 427