HomeServices’ Chris Kelly says mortgage servicing is real estate’s new lead engine
Why this matters
Capital markets activity continues to be defined by the rotation from bank balance sheets to non-bank lenders. Private credit funds have raised record dry powder; banks have tightened CRE underwriting standards for the sixth consecutive quarter. The result is a market where well-sponsored deals clear, and marginal credit pays a meaningful spread to do so. For LPs, the allocation conversation has shifted decisively toward real estate debt, with equity allocations being deployed more selectively into operator-led platforms.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- One of 31 capital stories tracked on the wire in September 2026.
Computed from Real Estate Trail’s own tracked coverage
Executives say servicing helps preserve agent relationships and creates recurring touchpoints that can surface refi or move-up intent.
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