Editor’s note: This is part two of a two-part story examining the impact of the Redfin-Compass deal. Read part one here. “Real estate isn’t a transaction. It’s a process.” Those words, from Compass CEO Robert Reffkin on the company’s recent earnings call, were in response to a question about how Compass agents can communicate value…
Editor’s note: This is part one of a two-part story examining the impact of the Redfin-Compass deal. Look for part two in the coming days. “The future is bright. Look forward to building it with you.” Those words, from Compass CEO Robert Reffkin to Rocket Companies CEO Varun Krishna, have a little bit of subtext.…
In the culmination of what was a busy year for Rocket Companies, after acquiring both Redfin and Mr. Cooper, the company detailed another large milestone in its recent earnings call with investors—a partnership with Compass. In its own recent earnings call, Compass CEO Robert Reffkin dropped the news that it had entered into a three-year…
Real estate portal Redfin, a part of Rocket Companies, has announced “The Great American Home Search”–a contest kicking off from a Super Bowl commercial on Sunday that offers the opportunity for players to win a home valued at more than $1 million. Players must download or update the Redfin app to participate in this scavenger-hunt-style…
Editor’s note: The COURT REPORT is RISMedia’s weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate. Plaintiffs in consolidated commission case push for settlement approval Gibson v. NAR, the largest copycat case of the Burnett commission lawsuit filed in the same Missouri District Court overseen by Judge Stephen Bough,…
A new consumer class-action lawsuit was filed against Rocket Companies on Jan. 26 in the U.S. District Court for the Eastern District of Michigan. According to a press release announcing the action, the Michigan-based lending conglomerate is accused of forcing agents to steer clients toward using Rocket Mortgage. This move, according to attorneys at Hagens…
In a long LinkedIn post Jan. 13, Glenn Kelman, the 20-year CEO of Redfin, announced he was stepping down. Titling the post ‘Unemployed, In Greenland,’ Kelman said Jan. 16 will be his last day in the office, following Rocket Companies officially acquiring the firm July 1, 2025. Rocket CEO Varun Krishna will fill in as…
Rocket Companies—which recently completed its acquisition of both Mr. Cooper and Redfin—exceeded its revenue guidance during the third quarter, as noted during a Halloween Eve earnings call. The company reported Q3 adjusted revenue of $1.78 billion—beating the high end of its guidance range—generated $36 billion in net rate lock volume, up 26% over the previous…
Editor’s Note: The Mortgage Mix is RISMedia’s biweekly highlight reel of need-to-know mortgage-industry happenings. Watch for it every other Friday afternoon. – loanDepot has filed a lawsuit against West Capital Lending over trade secrets and contracts, as reported by National Mortgage Professional. loanDepot is alleging that West Capital orchestrated a large-scale employee raid and data…