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Flyhomes acquires Home Sale Assured

Housing Wire

Proptech firm Flyhomes has entered into an agreement to purchase Innovative Holdings, LLC’s “buy before you sell” platform Home Sale Assured. In the acquisition, Flyhomes will be acquiring the Home Sale Assured brand and Meadow will join Flyhomes as VP of partnerships. The terms of the deal were not disclosed.

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Flagstar Bancorp cuts 20% of its mortgage staff

Housing Wire

“Gain on sale revenue was under significant pressure throughout the quarter as the velocity of the increase in mortgage rates rose at the fastest rate this century,” Alessandro DiNello, president and chief executive officer of Flagstar Bancorp, said in a statement. Flagstar’s mortgage division will also preserve the brand.

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Realogy to sell title arm for $210M, form JV

Housing Wire

The sale-and-JV formation will allow Realogy to gain liquidity from the sale of its title insurance business while still maintaining a position in title. Realogy will maintain a 30% equity interest in Closing Parent Holdco, L.P., Realogy will maintain a 30% equity interest in Closing Parent Holdco, L.P., They ranked No.

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Home equity products light up a dark housing market

Housing Wire

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. That offering, Unlock HEA Trust 2023-1, is slated to close this week.

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MLSs turn to AI to catch commission lawsuit settlement violations

Housing Wire

NAR’s settlement agreement — which closed a number of antitrust class-action lawsuits against NAR and major brokerages for allegedly inflating Realtor commissions, and is pending final approval this month — outlines 13 practice changes required of NAR-affiliated MLSs. It’s a certified letter from the Department of Justice (DOJ).”

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Rocket goes local: Testing the waters or shifting its strategy? 

Housing Wire

The lender made focused efforts to target the purchase market in 2021 and set up dedicated teams to cultivate relationships with real estate agents. What is clear here is that their long-held view that when rates went up, they could simply change their focus to purchase mortgages is not holding up.

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Compass is Guaranteed Rate’s latest dance partner

Housing Wire

Guaranteed Rate, the Chicago-based mortgage lender , and Compass, the New York City-headquartered residential real estate brokerage , “entered into a definitive agreement to form OriginPoint , a new mortgage origination company,” according to a press release Tuesday. 2 brokerages in residential sales volume nationally – and bitter rivals.