Real estate brokerage Radius moves into mortgage lending

Abstract

A California real-estate firm and tech startup has added a mortgage brokerage division, making it the latest in a growing list of initiatives connecting the two industries. San Francisco-based Radius, a real-estate brokerage and provider of tech-based services to real estate agents, recently began offering mortgage options to its home-state customers. Mortgage borrowers will also be able to easily receive status updates about the loan process from their agent. The new unit, named Radius Mortgage, is led by Michael Bardales, appointed as director of mortgage, and senior lending manager Grace Davis. The company's entry into mortgages is another example of the growing links between real estate and home lending. As mortgage volumes slow from 2021's pace, other tie-ins continue to emerge, including partnerships between digital lender Lower and iBuyer Opendoor and Beeline's deal to provide mortgages for Roofstock subsidiary, Stessa, the platform serving single-family rental investors. Recently, Remax, the nationwide network of real estate agents, also said it intended to increase investment in its Motto Mortgage broker franchise chain, aiming to eventually generate more than $100 million in related revenue.