Realogy Teams Up With Guaranteed Rate

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Realogy Holdings Corp. announced a joint venture with Guaranteed Rate Affinity LLC to originate and market its lending services to Realogy’s brokerages and subsidiaries, including NRT and Cartus. The deal likely will go into effect in June.

“As we evaluated potential new options for our mortgage origination venture, Guaranteed Rate was clearly the right strategic partner to help our company-owned brokerage business and its affiliated sales associates offer an innovative and streamlined mortgage process built on best-in-class technology,” says Realogy CEO Richard A. Smith. “Mortgage financing is a service we have provided for more than 20 years. We are delighted to partner with Guaranteed Rate and are excited to embark on this new relationship that will substantially enhance our service offerings to our customers.”

Guaranteed Rate will acquire certain assets of the mortgage operations of PHH Home Loans LLC, the existing joint venture between Realogy and PHH Mortgage. The asset purchase agreement is still subject to approval by PHH Corp. shareholders, which is expected to occur in June.

Source: Realogy Holdings Corp.

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