After 25 years at Intuit, Glenn McGillivray has joined Rocket Companies, the parent of Rocket Mortgage, in the newly created role of chief people and places officer, the company confirmed on Thursday. McGillivray will be responsible for the growth and development of the company’s workforce and workp

Fathom Holdings Inc., parent company of North Carolina-based Fathom Realty, announced Wednesday that it has started two new commission plans for agents.The two agent payment plans, Fathom Max and Fathom Share, complement the real estate firm’s existing plan known as Fathom One. The new plans are “de

Global credit rating agency DBRS Morningstar this week assigned a “good” rating to reverse mortgage industry leader Finance of America (FOA), reconfirming the ranking the company was assigned at a similar point last year.The rating is officially classified as “MOR RVO2” by Morningstar. The agency no

The U.S. Department of Housing and Urban Development (HUD) on Thursday announced that it is expanding the HUD-Department of Veteran Affairs (VA) Supportive Housing (HUD-VASH) program. This will change the way that benefits are calculated so that veterans experiencing homelessness will not be pushed

After more than three months of searching, the California Association of Realtors (CAR) has found its new CEO. On Thursday, the trade group announced that it has named Phil Hawkins as its new CEO. Hawkins is currently the head of the Pacific West Association of Realtors (PWR), which is one the the l

The total value of U.S. homes is poised to cross the $50 trillion mark.That’s according to a new report from Redfin, which shows that housing has added $3.1 trillion in value over the past year, bringing its total value to $49.6 trillion. That’s a 6.6% rise in total value compared to June 2023 and 1

Zillow’s second-quarter 2024 earnings call with investors Wednesday evening marked a pivotal moment for the firm. It was the first since company co-founder Rich Barton announced he was stepping down as CEO.Less than an hour before the call, Zillow Group announced that it had promoted Jeremy Wacksman

Zillow Group has promoted Jeremy Wacksman from chief operating officer to CEO, according to an announcement on Wednesday.The firm made the announcement less than an hour before its second-quarter 2024 earnings call with investors and analysts. In addition to being named as the firm’s CEO, Wacksman h

Industry-leading reverse mortgage lender Finance of America (FOA) recorded another loss in the second quarter of 2024, but it managed to move closer to profitability while also expanding its dollar volume of loans through other business metrics that show improvement.This is according to the company’

More households led by older Americans who are either in or near retirement are carrying higher levels of debt. This has major implications for the nation’s retirement readiness posture, according to an issue brief published last week by the Employee Benefit Research Institute (EBRI).“While improvin

Refinance applications picked up as mortgage rates fell last week, but purchase loan activity had only a small gain, according to data released Wednesday by the Mortgage Bankers Association (MBA).The MBA’s survey — which covers 75% of all retail residential mortgage applications in the U.S. — found

Adrianne Todman, acting secretary of the U.S. Department of Housing and Urban Development (HUD), visited with local leaders in Cincinnati this week to talk about ways to address an affordable housing shortage in the city and across the state of Ohio, according to local reporting by the Cincinnati Ci

The Real Brokerage isn’t tapping the brakes on its rapid expansion.During its second-quarter 2024 earnings call on Wednesday, the company said it added almost 3,000 agents from April through June, a 70% year-over-year rise and a 250% increase compared to Q2 2022.The ballooning agent count pushed bro

Single-family rental (SFR) investors are worried about the rising cost of home insurance, but the majority expect to buy more properties in the next year as mortgage rates cool and home-price growth subsides. That’s the conclusion from a survey of 235 single-family landlords in late June and early J

A little over a month after the Batton 2 commission lawsuit defendants filed motions to dismiss the suit brought by homebuyers in Illinois, the plaintiffs have shot back.In responses filed on Monday, the plaintiffs argue that the court should not grant the defendants’ motions. The motions filed by C

The typical American home seller pays a 2.55% commission to the real estate agent hired by their home’s buyer. That’s down from an average of 2.62% in January, before the NAR settlement was announced in March.This is according to Redfin, which analyzed MLS data of rolling four-week periods through J

Redfin CEO Glenn Kelman said Tuesday on the company’s second-quarter 2024 earnings call that he expects business to improve when the housing market speeds up after mortgage rates come down.But what is the alternative if rates don’t come down?“Great question — Plan B is drink our own urine or our com

California-based mortgage lender loanDepot reduced its financial loss in the second quarter of 2024 while still feeling the impacts of a January cyberattack. During the three-month period, the company increased its volumes and margins while implementing an efficiency program and selling mortgage ser

Attorneys for Ginnie Mae have responded to Texas Capital Bank (TBC) over the government’s motion to move the case to a different venue. They say that the bank’s own filing on the matter avoids the key issues that the government sought to raise regarding the original clause that specifies where any r