Real REMAX Group has made the “strategic decision to no longer invest in growing the Motto Mortgage franchise system,” HousingWire confirmed Thursday evening with a spokesperson for the newly formed Real REMAX Group.
This news comes after The Real Brokerage and REMAX initially said that both “REMAX and Motto Mortgage, the first and only national mortgage brokerage franchise brand in the U.S., [would] continue to operate under their current brands,” in their late April 2026announcements of the acquisition.
In an FAQ published when the acquisition was first announced, REMAX told Motto Mortgage franchisees that the brand would stay the same, all agreements would stay in place and “support from Motto Headquarters remains unchanged.”
REMAX Holdings also reassured Motto Mortgage franchisees that “even after the transaction closes, the Motto Mortgage brand will be maintained and continue to operate as a dedicated franchise model.” The FAQ also noted that Motto Mortgage franchise owners should continue running their business as usual.
According to a spokesperson for Real REMAX Group, the company will “no longer offer the sale of new [Motto Mortgage] franchises.”
“Existing Motto franchisees will have flexibility in determining what comes next for their businesses, including the opportunity to mutually terminate their franchise agreements. For owners who choose not to mutually terminate, Real REMAX Group remains committed to supporting franchise owners and honoring the obligations under existing franchise agreements,” the spokesperson added.
“Real REMAX Group has made the decision to focus future investment on building a single, scalable mortgage platform centered around the broader agent community rather than continuing to invest in growing the Motto Mortgage franchise network and wemlo.”
Real has confirmed since the close of the acquisition on Monday. that REMAX would continue to operate as a franchise brand now that the merger has closed.
Leadership musical chairs
In addition, the spokesperson confirmed that Vic Lombardo, the president of REMAX’s mortgage services, had stepped down from his role. Kate Gurevich, the CEO of Real’s mortgage operation, One Real Mortgage, has taken over his role, according to the spokesperson.
Lombardo joined REMAX Holdings in August 2025 to lead its mortgage brokerage franchise, Motto Mortgage, and third-party processing firm, wemlo. An industry veteran with a decade of experience as a broker-owner, Lombardo previously served as chief operating officer of Guaranteed Rate Affinity and held leadership roles at PHH Mortgage.
He took the reins from Ward Morrison, who launched Motto in 2016 and served as president until his retirement, building the brand around its “Mortgage Brokerage In-A-Box” model.
In stepping down, Lombardo joins Chris Lim, the president and chief growth officer of REMAX, who also vacated his role after the close of the acquisition. Like Lombardo, Lim was also replaced by a member of Real’s leadership team, with the company confirming last week that Jenna Rozenblat would become president of the newly formed Real REMAX Group.
Rozenblat was Real’s chief operating officer and she is also serving as the chief integration officer for the transaction. REMAX CEO Erik Carlson has also stepped down from his role and has joined the Real REMAX board of directors.
When asked about the leadership changes, the spokesperson said that “the new leadership structure brings together experienced leaders from both organizations and is designed to capitalize on the complementary strengths of Real and REMAX.”
“The leadership team brings expertise across technology, marketing, finance, operations, brokerage and franchising,” the spokesperson added.
By the numbers
At the end of 2025, REMAX reported a total of 171 Motto Mortgage offices operating nationwide, a decrease of 24% from the year prior. The firm said that during the fourth quarter of 2025, it made the “strategic decision to terminate approximately 80 Motto franchisees who were receiving significant financial relief or were otherwise not performing from an operational perspective.”
In early 2026, REMAX introduced a new Motto franchise financial model for new Motto franchisees that transitions from an entirely fixed monthly fee to a fixed monthly fee of $2,500 plus a variable fee of 25 basis points per closed loan.
For wemlo mortgage loan processing revenue, REMAX charged a fixed processing fee of approximately $825 for each loan closed through a Motto franchise and a fixed processing fee of $995 for most loans closed through external customers.
During the second quarter of 2026, One Real Mortgage generated $1.9 million in revenue, up 10% year-over-year. Year to date, One Real Mortgage has produced roughly $110.8 million in mortgages, compared to $243 million in 2025, per InGenius. The company reported in its Q2 2026 earnings that as of early August it had 169 mortgage loan officers, including 137 affiliated with the Real Originate program.
