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Rocket Companies announces deal to acquire Redfin for $1.75 billion

Housing Wire

Today, Rocket Companies announced it has entered into an agreement to purchase digital real estate brokerage Redfin in an all-stock transaction valued at $1.75 Under the agreement, each Redfin share will convert to 0.7926 Rocket Class A shares, a 63% premium over Redfins 30-day Volume-Weighted Average Price (VWAp) as of March 7, 2025.

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Rocket launches bridge loans to make homebuying easier

Housing Wire

Rocket Mortgage , the home lending arm of Rocket Companies , announced Tuesday it will now offer bridge loans , a short-term financing option that helps homeowners tap into their equity while selling their current property. Some buyers can’t compete without first selling, missing opportunities to purchase a home.

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Rocket’s origination volume jumps 28% in Q3

Housing Wire

Detroit-based Rocket Companies , the parent of Rocket Mortgage , saw its strategy of investing in technology and expanding its servicing portfolio start to pay off in the third quarter of 2024. billion in loans during the period — up 28% year over year. million loans, Rocket’s servicing operations generated approximately $1.5

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Zillow is still in the red, but its major revenue streams are rising

Housing Wire

This agreement is really a great win-win, Zillow CEO Jeremy Wacksman said on the earnings call. Origination volume is up even more, as the company’s purchase loan volume doubled in 2024, while refinance originations rose 69%. The deal has a five-year term with two options to extend it by two years.

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How midsize lenders are surviving the mortgage squeeze

Housing Wire

Stearns said the company’s disciplined cost structure has led to consistent profitability — without considering sales of mortgage servicing rights ( MSRs ) — which sets it apart from many independent mortgage banks ( IMBs ) that continue to operate in the red. As a group, IMBs posted a net loss of $28 per loan in the same period. “If

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Better leans on AI, sees first profitable month since 2022

Housing Wire

At the core of this strategy is Better s AI loan assistant, Betsy , which executed 127,000 consumer interactions in March. Another notable factor in accomplishing all three goals is Better’s partnership with NEO Home Loans , announced in January. “In January, we funded $2 million of loans for four families. .

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How to Invest in Real Estate: A 7-Step Beginner’s Guide

The Close

Have a clear investment strategy and long-term goals before purchasing. Next, draft an operating agreement that outlines your company’s purpose, structure, and governance. Tax liens and auctions: Search for tax lien sales and foreclosure auctions. Stay updated on local and national real estate trends and regulations.