Adam Constantine on MLK Jr.’s impact on housing equality

During the interview, Constantine explains why the industry needs to focus on evoking intentional change rather than launching lackluster initiatives.

Navigating capacity concerns amidst record-high volumes

High loan volumes continues to loom large in the new year, making the “one-stop-shop” approach to the servicing and lending process even more appealing.

Amid record-high origination volumes, mortgage fraud risk is down

CoreLogic's recently released Mortgage Fraud Report is the industry standard for nationwide fraud monitoring and analysis. Read the findings here.

How student loan debt impact homeownership

Student loan expert Catalina Kaiyoorawongs shares her practical and tangible advice for people who feel overwhelmed by their student loan debt.

Real EstateCoronavirus

eXp Realty lays off 15% of staff due to coronavirus impacts

Another major brokerage experiences fallout from Covid-19

As coronavirus is hitting the housing market in waves, eXp Realty announced on Wednesday it let go of 15% of its staff.

“Staff departures aren’t easy, but we are doing this with the utmost respect for each and every person. We are grateful for the contributions of those who are leaving us,” eXp Realty CEO Jason Gesing said in a statement. “However, we are confident about our business model and these changes are the right thing to do to put eXp on a stronger path to grow when business – and life – returns to normal.”

Other measures the company said it would be taking during the economic downturn include holding open positions and reducing its number of contractors.

In a release, eXp said that Founder Glenn Sanford, Chief Executive Officer Jason Gesing, eXp World Holdings CFO Jeff Whiteside and eXp World Holdings Chief Accounting Officer Alan Goldman have taken a significant salary reduction.

Those on eXp World Holdings board have had their cash compensation for board service reduced significantly as well.

“This global health crisis is unlike anything we’ve ever seen in our lifetimes, and our hearts go out to everyone impacted around the world, especially our agents, staff, partners and their families,” eXp Realty Chief Executive Officer Jason Gesing said in a release. “From day one, we have run a lean and agile business so that eXp would be sustainable for the future.

“During the past year we grew headcount to stay ahead of our historic growth curve. While business has gone well through the first quarter of this year, we need to be prepared for challenges that may lie ahead for the entire real estate industry in the near future.”

The virtual real estate brokerage said that April looks to be on track for year over year growth in sales volume and transactions, but is anticipating significantly reduced real estate transactions in the coming months due to the spread of coronavirus.

Most Popular Articles

Prepare for the rise in mortgage rates

Economists offer their takes on how high mortgage rates will climb, how lenders will respond and what impact this will have on the housing market. HW+ Premium Content

Jan 18, 2021 By

Latest Articles

2020 ends with 3.4 million loans in delinquency

The final delinquency tally for December is in, with data revealing that by end of 2020, 1.54 million more mortgages were reported delinquent.

Jan 22, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please