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. Continue reading
Q1 net earnings of $180.5 million were boosted by the sale of $70 billion in mortgage servicing rights (MSRs) and a $141 million markup in the value of the $230 billion in MSRs UWM retained. Continue reading
A solid Q1 earnings report has Redfin CEO Glenn Kelman feeling confident. However, persistent market headwinds are keeping the CEO from being too bullish. Continue reading
Q1 2024’s real estate earnings are in. CoStar and Rocket Mortgage excelled, while RE/MAX and Opendoor face challenges. We’ve compiled the key highlights in one place. Here’s what you might have missed. Continue reading
Mortgage tech and cloud banking software provider says it’s debt free and on faster track to profitability, thanks to $150 million cash injection from Haveli Investments. Continue reading
Realtor.com parent company Move Inc. saw its fiscal third-quarter revenue decrease 6 percent yearly to $132 million as traffic to the site stalls at 72 million average monthly unique visitors. Continue reading
The real estate brokerage also managed to trim losses and achieved positive free cash flow for the first time ever in a first quarter, according to an earnings call Wednesday. Continue reading
San Francisco-based title tech provider, set to be acquired by Title Resources Group, posts a $20.6 million Q1 2024 net loss, down 46 percent from a year ago. Continue reading
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. Continue reading
Seattle-based Redfin’s revenue increased 5 percent year over year to $225.5 million — beating revenue projections of $218.1 million. Still, the company is struggling to control its net losses, which grew nearly 10 percent from 2023. Continue reading