reAlpha’s ‘Be My Neighbor’ Secures Mortgage Broker License in New Mexico

Rhea-AI Summary

reAlpha Tech Corp. (Nasdaq: AIRE) has announced the operational expansion of its subsidiary, Be My Neighbor (BMN), a veteran-operated mortgage brokerage company. BMN has obtained its broker license in the State of New Mexico, marking a significant step in its expansion strategy.

Nathan Nottingham, Chief of Staff of BMN, expressed excitement about bringing their client-focused mortgage services to New Mexico, aiming to provide residents with a more personalized and efficient home financing experience. This move is part of BMN's strategic growth plan to expand into additional states, offering accessible, transparent, and community-driven mortgage solutions.

Positive

• Expansion of subsidiary Be My Neighbor into New Mexico market
• Acquisition of mortgage broker license in New Mexico
• Strategic growth plan to expand into additional states

Negative

• None.

DUBLIN, Ohio, Oct. 17, 2024 (GLOBE NEWSWIRE) -- reAlpha Tech Corp. (“reAlpha” or the “Company”) (Nasdaq: AIRE), a real estate technology company developing and commercializing artificial intelligence (“AI”) technologies, today announces the operational expansion of its subsidiary, Be My Neighbor (“BMN”). BMN, a veteran-operated mortgage brokerage company, has obtained its broker license in the State of New Mexico.

“Securing this license in New Mexico is a pivotal step in our expansion strategy,” said Nathan Nottingham, Chief of Staff of BMN. “We’re excited to bring our client-focused mortgage services to New Mexico, providing residents with a more personalized and efficient home financing experience.”

As part of its strategic growth plan, BMN will continue to expand into additional states, delivering accessible, transparent, and community-driven mortgage solutions.

About reAlpha Tech Corp.
reAlpha Tech Corp. (Nasdaq: AIRE) is a real estate technology company developing an end-to-end commission-free homebuying platform. Utilizing the power of AI and an acquisition-led growth strategy, reAlpha’s goal is to offer a more affordable, streamlined experience for those on the journey to homeownership. For more information, visit www.realpha.com.

About Be My Neighbor
Debt Does Deals, LLC (d/b/a Be My Neighbor) is a veteran-operated mortgage brokerage company operating in 27 states. The company believes that one house has the power to make a life-changing impact for a family and future generations. Their mission is to bring humanity back into the biggest financial real estate decision that a person will make in their lifetime by showing them how to build generational wealth through smart real estate decisions and actually enjoy the process along the way. For more information, visit bemyneighbor.mortgage.

Forward-Looking Statements
The information in this press release includes “forward-looking statements”. Forward-looking statements include, among other things, statements about BMN’s recently acquired broker license in New Mexico; the anticipated benefits of BMN’s expansion into New Mexico and plan to expand into additional states; reAlpha’s and BMN’s ability to anticipate the future needs of the short-term rental market; future trends in the real estate, technology and artificial intelligence industries, generally; and reAlpha’s and BMN’s future growth strategy and growth rate. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “could”, “might”, “plan”, “possible”, “project”, “strive”, “budget”, “forecast”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: reAlpha’s limited operating history and that reAlpha has not yet fully developed its AI-based technologies; reAlpha’s ability to commercialize its developing AI-based technologies; whether reAlpha’s technology and products will be accepted and adopted by its customers and intended users; reAlpha’s ability to integrate the business of BMN into its existing business and the anticipated demand for BMN’s services in any of the markets reAlpha or BMN operates or provide services in; BMN’s ability to expand into additional states; reAlpha’s ability or the inability to maintain and strengthen reAlpha’s brand and reputation; the inability to accurately forecast demand for short-term rentals and AI-based real estate focused products; the inability to execute business objectives and growth strategies successfully or sustain reAlpha’s growth; the inability of reAlpha’s customers to pay for reAlpha’s services; changes in applicable laws or regulations, and the impact of the regulatory environment and complexities with compliance related to such environment; and other risks and uncertainties indicated in reAlpha’s U.S. Securities and Exchange Commission (“SEC”) filings.

Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements.

Although reAlpha believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. reAlpha’s future results, level of activity, performance or achievements may differ materially from those contemplated, expressed or implied by the forward-looking statements, and there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking statements.

For more information about the factors that could cause such differences, please refer to reAlpha’s filings with the SEC.

Readers are cautioned not to put undue reliance on forward-looking statements, and reAlpha does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Company Contact
Investor Relations
investorrelations@realpha.com

Media Contact
irlabs on behalf of reAlpha
Fatema Bhabrawala
fatema@irlabs.ca

FAQ

What license did Be My Neighbor obtain in New Mexico?

Be My Neighbor, a subsidiary of reAlpha Tech Corp. (AIRE), obtained a mortgage broker license in the State of New Mexico.

Who is the Chief of Staff of Be My Neighbor (AIRE)?

Nathan Nottingham is the Chief of Staff of Be My Neighbor, a subsidiary of reAlpha Tech Corp. (AIRE).

What is Be My Neighbor's expansion strategy for AIRE stock?

Be My Neighbor, part of reAlpha Tech Corp. (AIRE), plans to expand into additional states beyond New Mexico, offering accessible and transparent mortgage solutions as part of its strategic growth plan.

How does the New Mexico license benefit reAlpha Tech Corp. (AIRE)?

The New Mexico mortgage broker license allows reAlpha's subsidiary, Be My Neighbor, to offer its mortgage services in the state, potentially increasing market presence and revenue opportunities for AIRE.