Guaranteed Rate and Compass, Inc., have announced a definitive agreement to form OriginPoint, a new mortgage origination company. OriginPoint will originate mortgages for clients of Compass’ real estate brokerage, but will also be available to all consumers in markets where Compass operates regardless of the brokerage they work with.
Morty has announced that it has closed its $25 million Series B financing round, bringing its total investment to date to $38.4 million. March Capital led the round, with participation from Rethink Impact and existing investors Thrive Capital, Lerer Hippeau, Prudence Holdings, FJ Labs and Metaprop. The company intends to use the funding to make investments in hiring, consumer marketing and product expansion. Morty will also explore B2B2C opportunities to embed mortgage technology into the greater real estate ecosystem.
Ruoff Mortgage has entered a multiyear partnership with NASCAR, designating the company the “official mortgage partner” of the stock car racing sanctioning body. The agreement includes branding as the presenting sponsor of Victory Lane across all NASCAR-owned tracks for NASCAR’s top three series: the Cup Series, Xfinity Series and Camping World Truck Series.
Interfirst Mortgage Company has launched “ONE,” a new loan program backed by non-owner occupied properties. The loan program, currently available in 28 states and the District of Columbia, is built upon a single interest rate with no adjustments and qualifies off the cash flow of the rental property (DSCR of 1 or higher). It is the first program to launch as part of Interfirst’s “Independence Series” of loan programs; additional programs, according to a statement from Interfirst, will be launched later this year.