A more ambitious iteration The gathering this year is more ambitious than past iterations, as NAMB will host the International Mortgage Brokers Federation (IMBF) for the Inaugural World Summit. Between 40-50 mortgage professionals from across the world will be in attendance from the US, Australia, Ireland, Canada, and the United Kingdom. “This year’s IMBF world … [Read more…]
“Motto Mortgage Miracles offers an advantageous alternative to the traditional mortgage bankers currently operating in Harrison City,” said Zollner. “We provide the scope, scale and support of a large retail lender, while offering the flexibility, autonomy and exceptional service of a local mortgage broker that knows how to navigate the intricacies of the home buying … [Read more…]
Denver-based real estate giant RE/MAX announced that it was laying off 7% of its staff on Friday. According to the company’s filing with the Securities and Exchange Commission, layoffs were part of a reorganization, which RE/MAX said is “intended to streamline the Company’s operations and yield cost savings over the long term.”
The filing stated that RE/MAX expects the reorganization to be substantially complete by the end of the quarter. RE/MAX also noted that the reorganization will result in a pre-tax cash charge for one-time termination benefits between $2.75 million and $3.25 million.
In the same filing, RE/MAX announced that it had let go of Adam Grosshans, the firm’s principal accounting officer, as part of the reorganization. Leah Jenkins, who currently serves as executive director of financial reporting and technical accounting, was named vice president and chief accounting officer. She was also appointed as RE/MAX’s new principal accounting officer.
“These measures are strategically designed so that we are better positioned to continue executing on growth initiatives for our networks and driving value for our stakeholders,” the company said in a statement. “Growth of the RE/MAX and Motto Mortgage networks is a collective advantage, and our commitment remains steadfast in delivering a greater return for all. Though it is difficult to say goodbye to teammates, their contributions are greatly appreciated and they are leaving with our utmost gratitude and support.”
RE/MAX laid off 17% of its staff, roughly 120 employees, a little over a year ago. The July 2022 layoff impacted technology workers, including operators of the booj platform, as RE/MAX shutdown booj prior to partnering with Inside Real Estate and its kvCORE platform.
During the second quarter of 2023, RE/MAX recorded a 10.6% annual decline in revenue to $82.4 million, and a net income of $2 million, down from $5.8 million a year prior. The firm has also struggled to maintain its U.S. agent count in recent months. In Q2 2023, U.S. agent count was down 6.3% year over year, to 56,987 agents.
Source: housingwire.com
RE/MAX Holdings CEO Steve Joyce cited the challenging market conditions for the reorganization and cost-cutting effort. “The combination of higher interest rates and tight inventory has made for a challenging housing market and agent-recruiting-and-retention environment,” Joyce said in the company’s Q2 2023 financial report. RE/MAX’s slumping revenue of $82.4 million in the second quarter (down … [Read more…]
First is fundamentally changing the real estate industry. We believe that operational excellence will be key to our success and will be driven by constant improvement as well as bold game changing innovations.
As one of our early engineers, you’ll help guide key design, architecture, and technology decisions. You will be a part of our platform team, helping us to build a platform to support our customer-facing and internal applications. You will help us to scale the system to meet the needs of our expanding userbase. This includes driving the product roadmap, bringing “design thinking” on product features, coordinating development efforts across the team, and working with the front-end team to ensure that our efforts are aligned.
What you bring to the table
* 5+ years of developing Rails applications in production :
* SQL and relational database experience (not just using a database through an ORM)
* Experience in building APIs (REST at least, GraphQL a plus)
* Passion for startups and building products that will be used to change the face of real estate
* Generalist mindset, excited to jump into many parts of the stack to ship working software
* You can develop features without hand-holding in Rails, diving down into the database level as needed
* Clear, effective communication skills, both written and verbal
* Experience with agile practices, including TDD/BDD, continuous delivery, object oriented design, etc
* Comfort with asynchronous development: pull requests, chat, email, etc
Extra bonus points for
* Sidekiq (or another background job system integrated with Rails)
* GraphQL experience
* DevOps skills (Ansible and/or AWS cloud a plus)
* Front-end experience (especially React)
* Mobile development experience
* Proficiency in GitHub flow
* Experience with pair programming (remote or in-person)
* Open source contributions, side projects and gems (edited)
Now is your chance to become part of a world-class, industry leading organization that touts the #1 real estate brand in the world! RE/MAX is a business that builds businesses. We, alongside booj, our award-winning technology company, specialize in providing the tools, training and tech to our real estate network, which includes RE/MAX and Motto Mortgage franchises, agents, brokers and consumers. Join us and build a career where your contribution is heard, your innovative ideas are valued, and hard work and collaboration truly makes a difference.
RE/MAX LLC, Motto Mortgage and booj are an equal opportunity employer committed to diversity and inclusion, as well as non-discrimination in employment. All qualified applicants receive consideration without regard to race, color, religion, gender, sexual orientation, national origin, age, veteran status, disability unrelated to performing the essential task of the job or other legally protected categories. All persons shall be afforded equal employment opportunity.
Source: geekestateblog.com
Denver-based brokerage franchise Motto Mortgage, owned by RE/MAX, has accused broker shop UMortgage of “tortious interference” in its contract with a former franchisee called TRB Solutions, whose controlling member was Breon Price, the top-producing loan officer.
According to a lawsuit filed in March in a U.S district court in Colorado, UMortgage “unlawfully solicited” and “induced” Price and his team to join the company in the latter half of 2022, despite knowing the franchisee was subject to an agreement with Motto Mortgage.
The franchise agreement was not set to expire until December 1, 2025, and Motto claims Price expressed a desire in late 2022 to renew it for a new five-year term. But the team transitioned to UMortgage on December 14, 2022, and UMortgage tried to solicit other franchisees, such as one in Atlanta, per the lawsuit.
Price was one of the four original members of Motto’s advisory council, contributing to forward-planning strategies. He was set to hold the role until 2024, the lawsuit says.
TRB Solutions, which operated as Motto Mortgage Apex in Cincinnati, received Motto’s support, such as know-how, training, access to third-party resources and other trade secrets, according to the document.
But the franchise agreement prohibited franchisees from becoming officers, directors, shareholders, members, licensees, partners or managers in other mortgage companies.
Motto claims UMortgage knew about the franchise agreement, which is allegedly proven by a company check used to pay the sum of $172,800 related to the TRB termination agreement.
A spokesperson for Motto said the company is pursuing legal action against UMortgage after the company intentionally sought to impede on Motto’s franchisee contracts.
“Motto Mortgage will not allow a competitor to misrepresent the nature of their business acquisitions and induce Motto Mortgage franchisees to violate/terminate their franchise contracts,” the spokesperson wrote in an email.
Anthony Casa, UMortgage’s president and CEO, said in a statement that Price and his team joined UMortgage because of its platform.
“If having the best value proposition for loan originators is interfering with Motto Mortgage’s business model, then they are in BIG trouble,” Casa added.
That’s not the only lawsuit on hiring practices that involves UMortgage and its loan officers.
In late March, Maryland-based lender NFM, Inc. sued two former loan officers, Justin Bolden and Stephen Levitt, for violating its non-compete agreements when they left the company the month prior to join UMortgage.
According to the lawsuit filed in a district court in Maryland, the LOs agreed to sign a Code of Conduct Agreement in which the company mentioned the employees could not “compete with NFM for a period of one year after the termination of employment and not to solicit customers, employees, or anyone else that has a business relationship with NFM.”
However, according to the lawsuit, both employees serve in a “substantially similar role” at UMortgage compared to their roles at NFM and utilize “confidential, proprietary and trade secret information” to compete with the lender.
HousingWire reached out to NFM lending, Bolden and Stephen, but they did not reply to requests for comments.
Casa, who said “non-compete agreements don’t hold up in court,” mentioned mortgage companies pursue litigation to “intimidate their existing loan originators.”
“This is a bully tactic, which we will expose, and then we will take all of their loan originators.”
Source: housingwire.com