Key facts
- HomeSmart and loanDepot have entered into a marketing services agreement.
- The agreement gives HomeSmart's 25,000+ agents access to loanDepot's mortgage products and loan officers.
- The partnership aims to create a more integrated home search and financing experience for buyers and sellers.
- HomeSmart also has a national agreement with Guild Mortgage.
- loanDepot has funded $592 billion in loans directly to consumers since its launch in 2010.
HomeSmart, a large 100% commission-based brokerage, has entered into a marketing services agreement with retail lender loanDepot. The deal, announced Monday, will provide HomeSmart's more than 25,000 real estate agents with access to loanDepot's suite of mortgage products and loan officers. The companies aim to foster a more cohesive experience for homebuyers and sellers by integrating the home search and financing processes.
Carol Perry, HomeSmart's chief business development officer, stated that the company sought a lending partner with broad product coverage and significant scale. She noted that while the partnership is not exclusive, as HomeSmart also has an agreement with Guild Mortgage, a previous marketing services agreement with lender Lower has expired. Tom Fiddler, president of retail lending at loanDepot, expressed that the collaboration will enhance financing options and streamline the experience for buyers nationwide.
Founded in 2000, HomeSmart operates over 250 offices across 48 states, utilizing a proprietary technology platform. loanDepot, established in 2010, is licensed in all 50 states and has funded $592 billion in loans. The partnership comes at a time when many lenders are seeking to increase volume in a challenging high-interest rate environment.