Please wait as we prepare your PDF file ....

Mission Chronicle Blog

Search Blog

our goal is to help you stay informed by providing timely and interesting articles.

Redfin Mortgage expands to Pennsylvania, targets other states

01/11/2018

Download PDF

Seattle-based tech-powered brokerage Redfin today announced the expansion of Redfin Mortgage into Pennsylvania — the fourth market added since Redfin Mortgage’s launch in January 2017.

Redfin senior communications specialist Alina Ptasynnski said Pennsylvania was a “natural early market” since Title Forward, Redfin’s title business, is headquartered there.

Redfin Mortgage, serving Redfin’s buyer clients exclusively, offers fixed- and adjustable-rate conforming mortgages as well as jumbo loans for higher-priced homes with a 30-day closing guarantee. Redfin says the guarantee is based on the fact that all buyers go through a fully underwritten pre-approval process that includes these three contingencies:

The buyer’s credit and employment status must remain fundamentally unchanged after pre-approval. The home must appraise for an amount equal to or more than the sale price. The borrower must provide proof of title commitment and homeowners insurance.

If Redfin Mortgage is unable to close within the guaranteed 30-day timeline, they promise to give buyers a $1,000 closing cost credit.

“The Redfin Mortgage 30-day closing guarantee gives homebuyers an edge in the current real estate market driven by low inventory and strong competition,” said Redfin Mortgage head, Jason Bateman in a press release.

Delight agents, grow your brokerage with Adwerx Enterprise Tool automatically creates and distributes listing ads on behalf of a brokerage’s agents READ MORE

“By earning the seller’s confidence that the sale will close on time, offers from buyers with a Redfin Mortgage pre-approval letter will stand out from the crowd in a bidding war.”

Lastly, Redfin says their lending platform is designed to integrate with the company’s brokerage operations and Title Forward, Redfin’s title and settlement company. Furthermore, Redfin maintains there are no incentives for Redfin agents to recommend a Redfin loan, although they do tout the potential savings of using Redfin for all homebuying needs.

Redfin Mortgage made its 2017 debut in Texas, with a goal to provide a digital process with better service, quick closings and lower fees by employing a shared technology platform, compensation based partly on customer satisfaction and an exclusive focus on Redfin buyer clients.

As of now, the company operates in Texas, Illinois and the District of Columbia, with plans to expand into Virginia in the near future.

Redfin went public in July 2017.

Email Marian McPherson.

Source: click here

Read More

INSPIRED, INTELLIGENT, INSIGHTFULL

STAY INFORMED WITH TIMELY AND INTERESTING ARTICLES FROM OUR BLOG, MISSION CHRONICLE. OUR ASPIRATION IS TO PROVIDE REALTORS AND OTHER REAL ESTATE INDUSTRY PROFESSIONALS WITH EXCEPTIONAL RESOURCES AND SHARE OUR KNOWLEDGE TO PROPEL YOU TO YOUR GOALS.

  • Pitching your real estate tech to Inman? Avoid these 6 blunders

    If you’re a technology company stakeholder trying to catch the eyes of Inman’s tech-forw...

  • Real estate photographer sues Zillow for copyright infringement

    A California photographer of high-end properties says his contract with agents is ‘not transfe...

  • Howard Hanna acquires Allen Tate Companies to form mid-Atlantic real estate giant

    Howard Hanna Real Estate Services is acquiring Allen Tate Companies to create a powerhouse real esta...

  • Existing home sales remain steady, ending 4-month slump

    Sales of existing homes remained steady from July to August, ending four months of decline, accordi...

  • Zillow to feature listings from Canada’s largest indie brokerage

    As part of its efforts to come to Canada, Zillow will soon feature listings from the country’s...

  • The secret to growing your business 10x in one year

    To have a successful real estate business, you must establish yourself as a niche real estate servic...

  • 3 ways agents can become the ‘digital mayor’ for their neighborhood

    Meet three agents who are killin’ it in everything from local content marketing to social medi...

  • Compass launches Telluride office, snags two top Sotheby’s agents

    Compass is expanding into the Rocky Mountain ski-town of Telluride, Colorado, with an award-winning ...

  • DocuSign passes Zillow’s market cap, and NAR is reaping the rewards

    DocuSign, the cloud-based electronic signature platform, is skyrocketing in value and even overtook ...

  • The ‘Compass Effect’ is creating chaotic Gulf War-like battlefield

    Suddenly, like the Persian Gulf, real estate has become antagonistic and fiercely competitive, with ...

September 2018
Mon Tue Wed Thu Fri Sat Sun
« Aug    
 12
3456789
10111213141516
17181920212223
24252627282930

  • Polls

    What information you are looking for?

    View Results

    Loading ... Loading ...
  • Last month Results

    How Is My Site?

    • Good (100%, 3 Votes)
    • Excellent (0%, 0 Votes)
    • Bad (0%, 0 Votes)
    • Can Be Improved (0%, 0 Votes)
    • No Comments (0%, 0 Votes)

    Total Voters: 3

    Vote

    Loading ... Loading ...