Further extending its reach in real estate services, Compass has announced it will launch OriginPoint, a new mortgage origination company created in conjunction with retail mortgage company Guaranteed Rate.
“Over the past eight years Compass has been laser-focused on building a company that empowers top agents across the country, and with OriginPoint, we’re creating a direct connection between these agents and the top loan officers in the industry,” Compass Founder, Chairman and CEO Robert Reffkin said in a statement. “Buying a home is the most emotionally and financially significant decision of most people’s lives and the role of the agent is to make the process as stress-free as possible.”
Though OriginPoint has yet to gain licensure, Inman notes that the new venture is expected to launch in select Compass markets by year end. Once live, OriginPoint will serve buyers and sellers in every Compass market, regardless of their agent’s affiliation.
“Partnering with Compass and Robert Reffkin to rapidly build a best-in-class, tech-focused mortgage company is really exciting,” Guaranteed Rate CEO Victor Ciardelli said in a prepared statement. “With interest rates creeping up, limited housing supply and refis slowing down, right now couldn’t be a more perfect time to hire the best of the best of the top loan officers and sales leaders throughout the country.”