Rocket Companies Reports Record Q3 Results

Rocket Companies on Tuesday announced third-quarter financial results that included closed loan origination volume of $89 billion, a 122 percent increase over the third quarter of 2019. Rocket Companies also reported: Increased net revenue by 186 percent and adjusted revenue by 163 percent, with as total expenses increasing by 46 percent. In addition to $89 billion in loan origination volume, the company saw a net rate lock volume of $94.7 billion – a 101 percent increase over 2019.Increased other income by 140 percent year-over-year, which included Amrock’s strong growth from title insurance services, property valuation, and settlement services as a result of the increase in origination volume.  “In the midst of the pandemic, we were able to help an unprecedented number…

RE/MAX Reports “Very Encouraging” Q3 Results

RE/MAX reported “very encouraging” financial results for the third quarter for its real estate and mortgage brokerage service arms. “The continued execution of our strategy, coupled with the U.S. housing market’s remarkable run, drove our very encouraging results for the third quarter,” stated Adam Contos, RE/MAX Holdings Chief Executive Officer.  RE/MAX reported the following results for RE/MAX real estate brokerage and Motto Mortgage brokerage: Total revenue of $71.1 million, with revenue excluding marketing funds increased 0.5% percent to $53.8 million.Net income attributable to RE/MAX Holdings, Inc. of $3.6 million and earnings per diluted share (GAAP EPS) of $0.19.Adjusted EBITDA of $30.3 million, Adjusted EBITDA margin of 42.7% and Adjusted earnings per diluted share (Adjusted EPS) of $0.64.Total agent count increased 5.1 percent to 134,769 agents, while decreasing 0.3 percent in…

Zillow Reports Q3 Revenue Of $657 Million

Zillow announced third quarter financial results, as the online real estate company posted strong revenue amid the coronavirus pandemic. “Zillow’s strong third quarter results reflect impressive execution during a time of challenge and opportunity,” Zillow Group co-founder and CEO Rich Barton said. “Many of us are re-evaluating where we live and how we live, which has kicked off a Great Reshuffling, and we need safe, digital ways to get to a better place.” Total consolidated revenue of $657 million and revenue for all three segments exceeded the high end of the company’s revenue outlook for the third quarter.Segment income (loss) before income taxes was $140 million, $(76) million and $11 million for the IMT, Homes, and Mortgages segments, respectively, and…