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Direct mortgage lender American Financial Network Inc. is turning to zavvie to help its homebuyer clients make cash offers in competitive markets.
About 1,150 American Financial Network (AFN) loan originators working out of more than 240 offices nationwide will be able to offer clients access to zavvie’s Cash Offer programs under a partnership announced Tuesday.
Lane Hornung
“Cash offers continue to be the hottest trend in the home buying market,” zavvie co-founder and CEO Lane Hornung said in a statement. “Making more buyers cash buyers creates more business for AFN’s trusted loan originators, and we know that zavvie Cash Offer programs increase loan officer business activity.”
Cash buyers accounted for 33 percent of home sales in February, the highest share since March 2014, according to monthly agent surveys conducted by the National Association of Realtors (NAR).
John D’Onofrio
“As we endeavor to support more of our clients to compete against all-cash buyers and win more offers, we’re not just participating in a market trend — we’re leading it,” AFN’s John D’Onofrio said in a statement.
In February, AFN announced that it had selected Snapdocs’ eClosing platform and eVault solution “to accelerate digital closing adoption, boost the company’s operational efficiency, and uplevel the borrower experience.”
AFN said it expects to transition all 240 of its retail offices to hybrid, eNote and remote online notarization (RON) transactions.
A software technology company that enables real estate brokerages and mortgage lenders to offer buying and selling solutions through a white-labeled platform, zavvie debuted its power buyer program for real estate brokerages in February 2023 and launched a similar service for mortgage lenders in July.
The Boulder, Colorado-based software technology company last year announced a $3.65 million funding round led by existing investors including Second Century Ventures, the National Association of Realtors’ venture capital fund, with Second Century Ventures Managing Partner Tyler Thompson joining zavvie’s board of directors.
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