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eXp Realty and Newrez launch Revenos Mortgage joint venture

Plus: Mortgage rates near 2-week lows after biggest daily drop in 3 months

October 09, 2026

🥂 Here's to long weekends. Today’s newsletter is 818 words, a 3.5-minute read.

P.S. We'll be off Monday for the holiday but back in your inboxes Wednesday.

Disclaimer: Average mortgage rates as of October 08, 2026. © MND Daily Rate Index.

1. eXp Realty and Newrez launch Revenos Mortgage joint venture

eXp Realty and Newrez have formed Revenos Mortgage, a joint venture set to launch in early 2027 that pairs eXp’s 340,000+ agent network with Newrez’s origination and servicing platform.

The deal replaces Success Lending, eXp’s previous JV with Kind Lending that was wound down in September after producing $526.5 million in 2025 volume.

  • Newrez, which expects to originate about $65 billion this year, already runs about 16 joint ventures. For eXp, the servicing component is a key draw — giving agents a lender that stays connected to their clients long after closing.

The JV will operate under eXp’s existing Revenos brand, which referred 134,000 transactions and generated $1.6 billion in volume in 2025.

2. Chase lets small-business customers use their business deposits to get a lower mortgage rate

Chase is expanding its mortgage relationship pricing program to cover its 7 million Business Banking customers. Previously, only personal Chase accounts counted toward rate discounts. Now business deposits and investments can be combined with personal balances to qualify for up to 1 percentage point off a purchase or refi rate.

The practical effect: a business owner with substantial operating deposits at Chase can now use those balances to lower the rate on their personal mortgage — without bringing any new money to the bank.

“We’re opening the Chase Home Lending Relationship Pricing Program for the first time to Business Banking customers because we see an opportunity to connect business and personal financial conversations, and deliver greater value to our shared clients,” Ryan Hayes, head of retail sales at Chase Home Lending.

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3. More Nuggets

📊 Mortgage rates near 2-week lows after biggest daily drop in 3 months. (MND)

🏦 Better authorizes $30 million stock buyback. (Yahoo Finance)

📉 FHA lending to nonpermanent residents has dropped from 5.8% to 0.1%. (HW)

⚖️ Amex hit with $350M AML penalty. (BankingDive)

🏡 How rising mortgage rates are hitting the housing market hard. (The Hill)

🚨 Coach’s Corner

When everyone else is freaking out, that’s your opportunity to lead.

Agents are stressed. Buyers are nervous. Rates are unpredictable.

Your job?

— Dave Krichmar CEO

4. eXp founder Glenn Sanford hands reins to Leo Pareja

AGNT Inc., formerly eXp World Holdings, has announced that Mr Pareja had been appointed chief executive, effective immediately, succeeding Mr Sanford, who established the company in 2009.

Mr Sanford will remain chairman of the board, where he will continue to help guide the company’s long-term strategy, but has relinquished his executive employment positions.

The appointment represents a significant leadership change for the global real estate group, which operates eXp Realty, NextHome, FrameVR.io and SUCCESS Enterprises.

“Building this company from the ground up and watching our vision for a better, agent-centric model of real estate grow into the global, AI-native, multi-model platform it is today has been the privilege of my career,” Mr Sanford said.

5. Mortgage credit availability declines slightly

With rates near 7.5% and demand falling, lenders pulled back on loan programs in September — particularly cash-out refinances, investor loans, and products with flexible documentation requirements.

  • Overall credit availability fell 0.2% to a reading of 107.1

  • Jumbo credit dropped 0.3% — second consecutive monthly decline

  • Conventional credit fell 0.4%; conforming was also down slightly

  • Non-QM was the only segment that grew

“Mortgage credit availability decreased slightly in September, as lenders tightened documentation requirements on conventional loans and reduced offerings of loans that allow for cash-out refinances and investor home purchases,” said Joel Kan, MBA’s deputy chief economist.

Credit availability has now tightened two months in a row. When demand is this weak and rates this high, lenders tend to concentrate on safer, more straightforward loan types rather than stretch for volume.

☀️ You’re all caught up. See you on Wednesday!

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