eXp World Holdings faced headwinds in the second quarter, as persistently slow real estate sales drove the company’s revenue down 13% year-over-year to $1.2 billion, executives disclosed on Thursday.Despite the decline in revenue, the holding company for eXp Realty maintained profitability with a ne

Opendoor continued to feel the market’s headwinds in the second quarter of 2023, which led to fewer homes sold and lower revenues in the period. But the iBuyer greatly reduced its operating costs, delivered a profit, and increased its home purchases in the quarter. The iBuyer recorded a net income o

Rocket Companies, the parent of Rocket Mortgage, returned to profitability in the second quarter of 2023 driven by an increase in the purchase mortgage market share and expense cuts in business lines that aren’t profitable. The Detroit-headquartered lender’s GAAP net income in Q2 was $139 million, a

@properties announced the promotion of Branden Lopez to the position of General Counsel. This move comes as @properties aims to expand its business and enhance legal support across its portfolio of enterprises.Lopez, who joined @properties in November 2022 as Director of Legal, has proven herself as

An October trial in federal court for one of the many commission lawsuits is imminent after HomeServices of America lost a recent appeal. The 8th Circuit Court of Appeals’ three-judge panel concurred with a lower district court’s decision that HomeServices is not permitted to enforce arbitration agr

Black Knight reported slimmer profits and slowing organic growth in the second quarter, largely due to weaker mortgage volume from clients as well as near-term effects from the proposed merger deal with Intercontinental Exchange (ICE).The company’s profit dropped 61% quarter over quarter to $55.3 mi

Secretary of the U.S. Department of Housing and Urban Development (HUD) Marcia Fudge “fired up” the crowd during her keynote speech at the 2023 National Association of Real Estate Brokers (NAREB) Annual Conference when she spoke about the recently-announced HUD-NAREB partnership designed to tackle a

Mortgage rates continued to inch towards 7% this week as the 10-year treasury yields climbed past the 4% threshold.Investors assessed the state of the U.S. economy after Fitch Ratings downgraded the U.S.′ long-term, foreign currency issuer default rating from AAA to AA+ on Tuesday. The following day

Lamacchia Realty recently announces two significant mergers, marking an expansion for the company. Firstly, they are joining forces with Right Choice Real Estate, a well-known legacy brokerage in Massachusetts and Rhode Island for over 25 years. Founders Ron and Dawn Rusin will remain actively invol

IRS has targeted monetized installment sales as abusive, part of their Dirty Dozen tax scams and schemes. That means flagging these deals to the IRS or facing penalties.

Kofi Nartey, a top real estate broker with a client list of celebrities and prominent athletes, has joined The Real Brokerage as a national growth leader. In his new position, he will help build visibility for the brand, attract more agents as well as drive agent’s performance through coaching and d

HSBC Bank USA on Tuesday disclosed that it is facing an investigation from the U.S. Department of Housing and Urban Development (HUD) for alleged redlining practices. The federal investigation is based on a complaint filed by the non-profit organization National Community Reinvestment Coalition (NCR

Turkey Creek Ranch at 8210 Highway 145 comes with a three-story home built in 1994 on almost 29 acres of untouched land with a creek and a pond.

Despite a $35 million net loss in the second quarter, Zillow saw a slight annual increase in revenue to $506 million, beating Wall Street’s estimates. As a result, the company’s executives told investors and analysts that they were pleased with the firm’s second quarter performance, especially in to

Daryl Owen, the founder of top California independent brokerage Nationwide Real Estate Executives, is joining eXp Realty and taking 200 agents along with him.In 2022, his team closed $887 million in sales on 1,091 transactions, with an average home price of $740,000, eXp said in a statement Wednesda

Government-sponsored enterprise Fannie Mae this week released new updates to its appraiser independence requirements (AIR), and also established new property data independence requirements (PDCIR) simultaneously. Fannie Mae published a new frequently asked questions (FAQ) document related to AIR thi

Dallas-based Pinnacle Realty Advisors, the world’s pioneering Brokerage-as-a-Service (BaaS) platform, is expanding into the California real estate market. The subscription-based cloud brokerage model, which started in Texas, will now be available to residential and commercial agents in California, r

The U.S. Department of Housing and Urban Development (HUD) on Wednesday announced a new collaboration with the National Association of Real Estate Brokers (NAREB) designed to increase the housing industry’s awareness of appraisal bias. The partnership, which will be unveiled “in the coming months” a

Mobility Market Intelligence (MMI), a data intelligence and market insight tool provider for the mortgage and real estate industries, has acquired Bonzo – a relationship management and mortgage marketing platform.Ohio-headquartered Bonzo will operate as an independent service provider that is led by

Engel & Völkers, the global luxury real estate brand, just partnered with Dilbeck Real Estate, one of Southern California’s top real estate teams. Approximately 400 Dilbeck agents and support staff will operate under the Engel & Völkers brand. Additionally, nine office locations will convert to Enge