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The Kevin and Fred Show 

Apr 14, 2020

JPMorgan Chase tightens mortgage lending standards amid uncertainty

The lender will require a 700 credit score and 20% down for mortgages

 

 

https://www.inman.com/2020/04/13/jpmorgan-chase-tightens-mortgage-lending-standards-amid-uncertainty/

 

 

 

Good News for kW Agents… 

 

Keller Williams Offices Reducing CAPS in half.  

 

 

 

eXp Realty lays off 15% of staff amid market slowdown

Executives at the company are taking salary reductions in an effort to reduce company expenses as home sales across the country slow

 

Redfin is furloughing 41% of its real estate agents

The company announced it's also laying off 7% of its staff in an SEC filing

 

Realogy temporarily cuts executive pay amid coronavirus slowdown

Realogy CEO Ryan Schneider is taking a 90% pay cut while his direct reports are reducing compensation by 50%

 

 

 

 

eXp World Holdings reports first profitable quarter since NASDAQ listing

The company reported $800K in net income for the fourth quarter of 2019 while revenue grew 82%

 

 

Net income for eXp World Holdings was reported at $800,000 in the fourth quarter of 2019, or a diluted $0.01 per share. In the fourth quarter of 2018, eXp Realty reported a net loss of $5.2 million.

 

For the full year 2019, eXp World Holdings reported a net loss of $9.6 million, or $0.15 per diluted share. In 2018, the company posted a net loss of $22 million, so it improved over those numbers in 2019.