New American Funding and The Agency are partnering to meet the needs of The Agency’s clients, with NAF becoming the preferred mortgage lender of The Agency. NAF, which marks its 20th anniversary in 2023, holds the distinction of being the largest Hispanic-owned mortgage lender in the U.S. Meanwhile, The Agency has earned global recognition as…
Investors’ lender Kiavi has named Alex Urmersbach as Chief Financial Officer, the company announced. In this position, Urmersbach will head the company’s finance, accounting, capital markets, and business operations divisions. “I couldn’t be more excited to join Kiavi, especially as the company continues to demonstrate impressive growth and differentiation in this challenging macroeconomic environment,” he…
Digital title and settlement company Endpoint promoted Shawna Hernandez to COO, a newly created position, the company announced. “I’m honored to be named COO at Endpoint. We have such a talented and fantastic group of folks here at Endpoint, making it a joy to collaborate with great people and drive meaningful change in our industry,”…
Is the real estate industry ready for artificial intelligence? Sun West Mortgage is betting yes. Paval Agarwal, CEO of both Sun West Mortgage and its affiliate Celligence, has created a 24/7 personal assistant A.I. platform called MORGAN, and he’s ready to teach the world how to use it. MORGAN is designed to automate certain tasks…
Investors are backing away from the home purchase market as price appreciation continues to cool. Investor home purchases declined 45.8% YOY in Q4 2022, according to a new Redfin analysis of 40 U.S. metros. This is a record drop, besting 2008’s 45.1% dip during the subprime mortgage crisis. Quarter-over-quarter, investment purchases fell 27%, the largest…
By KIMBERLEY HAAS A new automated valuation model that recently hit the market uses a national property database, geospatial comparable data, and artificial intelligence to help users evaluate properties. Altisource, founded in 2009, is a provider of services and technology for the mortgage and real estate marketplaces. Their NestRange AVM helps with valuations for originations…
By KIMBERLEY HAAS The 26-year-old CEO of Alpha Capital Funds has plans to buy multi-family properties throughout the state of Connecticut with the goal of acquiring 500 units by the end of 2023. Tyler Smith, who says he was always hustling, started his career investing in real estate when he was still a student at…
New York-based real estate brokerage Compass Inc. announced a third round of layoffs Thursday as part of its ongoing cost-cutting strategy in the face of a housing slowdown. Compass CEO Robert Reffkin has made major investments in technology as part of its business strategy in the competitive residential brokerage industry. According to reports, the cuts…
Real estate and mortgage brokerage Flyhomes announced two new executive hires. Andrea Collins and Dan Richards joined the company, which offers buying and selling services as well as in-house finances, as Chief Marketing Officer and Executive Vice President of Mortgage. Both will serve on the Flyhomes Executive Committee and report to co-founder and CEO Tushar…
By KIMBERLEY HAAS Two Kentucky real estate professionals who allegedly conspired to rig bids for farmland and timber rights each face up to 10 years in prison and a $1 million fine. Barry Dyer and Mackie Shelton allegedly rigged the bids for hundreds of acres of farmland and a tract of timber rights during an…
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