CEO Marco Fregenal says the flat-fee brokerage is making progress toward achieving 2024 goals despite seasonality and broader industry challenges driving a $5.9 million Q1 net loss.
Category: Industry News
January cyberattack a $37M weight on loanDepot Q1 2024 results
In addition to $15 million in direct costs, loanDepot says it lost an additional $22 million in revenue while systems were down, contributing to $72 million net loss.
NAR commission settlement rules will go into effect in August
The massive trade organization promised in March to make various policy changes as part of a landmark settlement. The rules will now roll out slightly later than expected.
CoStar Group tallies Q1 revenue growth on success of Homes.com
The Virginia-based commercial and residential real estate behemoth released its first-quarter earnings on Tuesday, which revealed the company grew its revenue 12 percent year over year to $656 million. The company remained profitable, although its net income dropped 91 percent from $87 million in Q1 2023 to $7 million.
Will lawsuits end 6% commissions? Probably not, 1 law professor says
A provision in NAR’s settlement barring listing agents from offering buyer agents compensation is “largely symbolic,” USC professor Jordan Barry said Friday at a University of Minnesota conference.
Aidium Mortgage CRM lands $19M in Series A led by PeakSpan Capital
Founded as Daily AI, Aidium rebranded last year to better align brands it had acquired — Whiteboard CRM and Recruitable.ai — under a single umbrella.
Better hiring real estate agents to originate mortgages in 26 states
As Better reports $543 million 2023 loss, CEO Vishal Garg says the company has made fundamental changes to its business model that will help it pivot to providing purchase loans to homebuyers.
‘Apologize’ and 17 other common-sense ways to begin reforming NAR
Even before the courts resolve how agents are compensated, the National Association of Realtors has an opportunity to set a course for victory, Inman founder Brad Inman writes.
ICE on a signing spree for new ‘mortgage tech ecosystem’
In pursuit of a bigger slice of an estimated $14 billion market after Black Knight acquisition, Intercontinental Exchange signs 37 new Encompass clients and four new servicing clients.
Title technology provider Doma posts $124M 2023 net loss
CEO Max Simkoff says the company is well positioned to help lenders take advantage of the Biden administration’s push to reduce closing costs for mortgage borrowers.