AGENT, MORTGAGE AND LENDING
Knock | January 25, 2023
Knock, an innovative fintech company, announced on January 24, 2023, that agents and consumers would no longer have to choose between working with their local or national lenders.
The company informed that any lender or agent can now add a no-interest equity advance loan from Knock to almost any conventional or jumbo mortgage to increase the benefits of Knock Home SwapTM. In addition, homeowners can win their desired property and move on their timeline by matching Knock Home Swap Equity Advance with a purchase mortgage.
Knock Co-Founder and CEO Sean Black stated, "Since 2015, our mission has been to empower people to move freely, and we have continued to raise the bar when it comes to making the process of buying and selling homes simple, certain and cost-effective."
"Many companies offer home loans, but no one else offers the Home Swap. By partnering with lenders, we are making it easier for consumers to get the benefits of leveraging the equity in their current house to buy their dream home without any of the hassles that typically come with buying and selling, including the ability to avoid moving twice and living through repairs and showings," he added.
(Source – Cision PR Newswire)
Before putting their current house on the market, a homeowner can use Knock Home Swap Equity Advance to make a firm offer, negotiate, and close quickly on the home they want.
Knock Home Swap Equity Advance loan can also be used to make up to a 30% down payment, buy down the mortgage rate, cover closing expenses, cover up to $35,000 in home preparation costs to sell the old house for top cash, and pay up to six months of mortgage payments on the previous house. Besides, Knock's Home Prep & Marketability Allowance gives access to its approved contractor network and pays all bills out of homeowners' equity.
Knock was started in 2015 by founding team members of Trulia.com. Since then, it has raised more than $600 million in debt and equity from top investors. National Association of Realtors® is a strategic investor in Knock through its investment arm, Second Century Ventures. This means that Knock's homeownership solutions can be sold to its clients by its 1.5 million members. The company currently operates 72 markets across the country but wishes to expand to 100 by 2023.
REAL ESTATE TECHNOLOGY, INVESTMENTS
Inside Real Estate and BoomTown | January 24, 2023
BoomTown and Inside Real Estate recently announced their merger to establish the industry's premier residential real estate technology firm.
This merger will create a residential real estate software and services market leader in product and customer categories. After the acquisition, Inside Real Estate may help top franchises, brokerages, teams, and agents better manage their operations. Its research and development (R&D) and customer service will also help the new company come up with new ideas and help real estate agents get ahead quickly. Both missions help real estate professionals succeed.
Grier Allen, CEO of BoomTown, expressed, "This is the first day of an exciting new chapter for BoomTown and our clients." He further added, "Joining Joe and the talented Inside Real Estate team enables us to continue on our combined mission to serve the real estate industry with world-class technology and services. With a clear vision for the future, we look forward to accelerating the pace of innovation to fuel our clients' growth and success."
(Source – Newswire)
Inside Real Estate and BoomTown have a history of providing high-value, innovative solutions that help real estate professionals improve business outcomes, gain a competitive edge, and increase transactions and revenue. The merger will create the largest and most active community of high-performing real estate professionals and combine award-winning technological solutions, top-tier client support, and services offered by both companies.
When pooled, these assets and supports will allow us to accomplish - the best user experience in the front office, the most advanced back office software, a dynamic marketplace, and a global network of technology partners, and the most- innovative homeownership solutions in the business.
Nick Macey, President of Inside Real Estate, said, "This combination brings together significant capability to innovate as a true technology partner and support the needs of our customers." "Our passionate, capable team is committed to leading with the features, products and solutions that drive agent, team, brokerage and enterprise brand success," he concluded.
(Source – Newswire)
About Inside Real Estate
Over 4 lakh leading brokerages, agents, and teams trust Inside Real Estate, a fast-growing, independently-owned real estate software company. kvCORE platform, its flagship product, is the industry's most modern and comprehensive solution for broker growth at every level. Inside Real Estate's 250 outstanding workers and accomplished leadership team enable them to innovate and succeed for their growing customer base.
BoomTown gives its users a mobile app for agents on the go, transaction management, commissions, and accounting, a mobile website that can be customized and linked to local MLS data, personalized advertising, lead creation services, and more.
REAL ESTATE INVESTMENT, MORTGAGE AND LENDING
Gantry | January 23, 2023
Gantry, the largest independent commercial mortgage banking firm in the United States, recently informed that it produced $4.93 billion in commercial mortgages in 2022.
Meanwhile, even in 2021, Gantry had produced about $5.15 billion despite economic instability. It has broken records in the last three decades, completing the second-best production of commercial mortgage banking operations.
Jeff Wilcox, Principal of Gantry, said, "Last year was a tale of two halves, where after record setting Q1 and Q2 production totals, the market slowed for price discovery during the second half of the year. Despite the challenges, we have an experienced team that has successfully navigated cycle shifts in the past and operates proactively from that perspective."
(Source - Business Wire)
With $17.5 billion in national-level business in 2022, Gantry has no failed or missed transactions in asset types. This performance led to active interactions with clients as the originator and service provider, an actual rating at the time of placement, and a consultative role in choosing the best financial plan for the client's unique investment objectives. In addition, it examines every investment keenly for variations in performance, maturities, and tenant rollover at the annual assessments.
In 2022, Gantry provided 476 loans, including every type of commercial asset class. Around 85% of Gantry's 2022 production was financed by life insurers, regional banks, and credit unions, with each type of lender performing better for various borrowers. In terms of asset classes, Gantry continues to secure office, retail, and lender-preferred industrial and multifamily loan deals. In addition, Gantry successfully funded specialty assets, such as healthcare and self-storage, through various correspondent or associate lenders.
Gantry, a San Francisco-based private mortgage bank, has many correspondent lenders that use its production, closing, and servicing services. The company, founded in 1991, has approximately 100 employees in regional offices in the western US and New York and over 45 production teams that generated nearly $5 billion in the past year. The $17.5 billion nationwide servicing platform covers over 2,000 loans in 43 states. It is one of the few non-banking, non-insurance chartered companies with a Primary Servicer rating from Standard & Poor's.