Two of the biggest real estate market leaders are joining forces to form a new mortgage origination company.
Compass Inc. and Guaranteed Rate announced on Tuesday that they had reached an agreement to form PointOrigin, using the breadth of knowledge and expertise of each company. OriginPoint will combine Compass’s end-to-end technology platform with secured rate digital mortgage capabilities to rapidly drive growth.
Guaranteed Rate’s digital mortgage platform will be fully integrated with Compass’ cloud-based, AI-based software suite to enable OriginPoint to “boost efficiency at every stage of the mortgage lending process for provide a faster, smoother and completely transparent buying and selling experience. loan officers, agents and clients ”, according to a release of the joint venture.
OriginPoint will create mortgages for Compass’s real estate brokerage firm’s clients, and those of any other brokerage firm, and will help agents and loan officers work together to reduce the uncertainty clients face in the mortgage process. buying a house. The new company is also looking to modernize the real estate transaction process by increasing speed and efficiency for loan originators, agents and their clients.
“Partnering with Compass and Robert Reffkin to quickly build a premier, technology-driven mortgage company is truly exciting,” said Victor Ciardelli, Founder and CEO of Guaranteed Rate, in a statement. “With rising interest rates, limited housing supply and slowing refits, now couldn’t be better to hire the best of the best loan officers and sales managers across the country. “