reAlpha Mortgage Expands Footprint into Utah, Strengthens Team with Industry Leader

Rhea-AI Summary

reAlpha Tech Corp. (NASDAQ: AIRE) has announced the expansion of its mortgage division into Utah, marking a significant step in its national growth strategy. The company has appointed industry veteran Dave Osofsky, who brings 23 years of experience, to lead the expansion into Utah's $29 billion annual mortgage origination market.

reAlpha Mortgage, now licensed in 30 states, offers a comprehensive suite of mortgage products including Conventional, VA, FHA, and USDA loans. The company leverages AI-enhanced technology to optimize operations and improve the borrower experience. Utah's selection was strategic, being among the top five fastest-growing states with a 1.8% population growth between July 2023 and July 2024.

Positive

• Expansion into Utah's substantial $29 billion mortgage origination market
• Strategic hire of Dave Osofsky with 23 years of industry experience
• Presence in 30 states demonstrates successful national expansion
• Entry into one of the top five fastest-growing U.S. states (1.8% population growth)
• AI-enhanced platform integration for improved operational efficiency

Negative

• None.

Insights

Financial Growth Strategist

reAlpha's Utah expansion taps into $29B mortgage market, adding industry veteran leadership as part of strategic nationwide scaling effort.

reAlpha Mortgage's expansion into Utah represents a calculated growth move that targets one of America's fastest-growing states with 1.8% population growth between 2023-2024. This market entry provides access to an annual mortgage origination volume exceeding $29 billion, creating substantial revenue potential for reAlpha's mortgage division.

The company has demonstrated methodical execution of its national strategy, having already secured licensing in 30 states. This systematic approach to geographic expansion suggests a well-structured scaling plan rather than opportunistic growth. The hiring of Dave Osofsky, who brings 23 years of industry experience including 4.5 years as broker/owner, strengthens reAlpha's competitive position through local market expertise and established relationships.

reAlpha's diversified mortgage product portfolio—offering Conventional, VA, FHA, and USDA loans—positions them to serve various borrower segments in this new market. Their technology integration strategy aims to optimize operational efficiency while maintaining quality borrower experiences, addressing the classic scale-versus-service tradeoff that challenges growing financial services firms.

The company's broader strategy of unifying realty, mortgage, and title services under one technology platform represents an attempt to vertically integrate the homebuying process, potentially creating operational synergies while improving customer experience. This integrated approach could provide competitive differentiation in an otherwise fragmented real estate services market.

COLUMBUS, Ohio, Aug. 07, 2025 (GLOBE NEWSWIRE) -- reAlpha Tech Corp. (Nasdaq: AIRE) (“reAlpha” or the “Company”), an AI-powered real estate technology company, today announced the expansion of its mortgage division, reAlpha Mortgage, into Utah, a key market that advances its national growth strategy while deepening local market presence. Utah is one of the top five fastest growing states in the U.S. in terms of year-over-year percentage change, with population growth of approximately 1.8% between July  2023 and July  2024¹.

To anchor this growth, reAlpha Mortgage welcomes respected industry leader Dave Osofsky. With 23 years in the business, including the last 4.5 years as a broker/owner, Dave brings the experience, leadership, and client-first mindset that align with reAlpha’s mission. He plans to accelerate market expansion and loan volume across the region.

“Expanding into Utah provides reAlpha with access to a market with an annual mortgage origination volume exceeding $29 billion², accelerating our path to nationwide scale,” said Jamie Cavanaugh, CEO of reAlpha Mortgage. “By leveraging our AI-enhanced platform alongside proven local leaders, we aim to increase loan volume while maintaining a superior borrower experience and increasing operational efficiency.”

reAlpha Mortgage offers a full suite of mortgage products, including Conventional, VA, FHA, and USDA loans, supported by an expansive lender network and AI-optimized operations. The Company continues to integrate technology across its mortgage operations with the goal of making the experience faster, simpler, and more affordable.

With licensing secured in 30 states, reAlpha Mortgage is demonstrating meaningful progress toward its national rollout strategy. The launch in Utah reflects this momentum, reinforcing the Company’s commitment to building a nationwide presence. By unifying realty, mortgage, and title services under one technology-driven platform, reAlpha aims to streamline the homebuying journey while reducing costs and increasing transparency for consumers.

For more information about reAlpha Mortgage and its products, visit www.realpha.com/mortgage.

About reAlpha Tech Corp.

reAlpha Tech Corp. (Nasdaq: AIRE) is an AI-powered real estate technology company transforming the multi-trillion-dollar U.S. real estate services market. reAlpha is developing an end-to-end platform that streamlines real estate transactions through integrated brokerage, mortgage, and title services. With a strategic, acquisition-driven growth model and proprietary AI infrastructure, reAlpha is building a vertically integrated ecosystem designed to deliver a simpler, smarter, and more affordable path to homeownership. For more information, visit www.realpha.com.

Forward-Looking Statements

The information in this press release includes “forward-looking statements.” Any statements other than statements of historical fact contained herein, including statements by the Chief Executive Officer of reAlpha Mortgage, Jamie Cavanaugh, are forward-looking statements. 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 ability to pay contractual obligations; reAlpha’s liquidity, operating performance, cash flow and ability to secure adequate financing; reAlpha’s limited operating history and that reAlpha has not yet fully developed its AI-based technologies; whether reAlpha’s technology and products will be accepted and adopted by its customers and intended users; reAlpha’s ability to commercialize its developing AI-based technologies; reAlpha’s ability to successfully enter new geographic markets; reAlpha’s ability to integrate the business of its acquired companies into its existing business and the anticipated demand for such acquired companies’ services; reAlpha’s ability to scale its operational capabilities to expand into additional geographic markets and nationally; the potential loss of key employees of reAlpha and of its subsidiaries; the outcome of certain outstanding legal proceedings against reAlpha; reAlpha’s ability to obtain, and maintain, the required licenses to operate in the U.S. states in which it, or its subsidiaries, operate in, or intend to operate in; reAlpha’s ability to successfully identify and acquire companies that are complementary to its business model; the inability to maintain and strengthen reAlpha’s brand and reputation; any accidents or incidents involving cybersecurity breaches and incidents; the inability to accurately forecast demand for 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; the inability of reAlpha to obtain additional financing or access the capital markets to fund its ongoing operations on acceptable terms and conditions; the outcome of any legal proceedings that might be instituted against reAlpha; 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 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.

Media Contact:

Cristol Rippe, Chief Marketing Officer

media@realpha.com

Investor Relations Contact:

Adele Carey, VP of Investor Relations

investorrelations@realpha.com

¹ Immigration drives nation’s population growth, Stateline, https://stateline.org/2024/12/20/immigration-drives-nations-population-growth/
² 2023–2024 Mortgage Origination Volume by State, Origination Data, https://originationdata.com/states. Note: U.S. territories such as Guam and the U.S. Virgin Islands are excluded from state-level rankings.

FAQ

What is reAlpha Mortgage's (NASDAQ: AIRE) expansion strategy in Utah?

reAlpha Mortgage is expanding into Utah's $29 billion mortgage origination market, led by industry veteran Dave Osofsky, leveraging AI-enhanced technology to increase loan volume while maintaining superior borrower experience.

How many states is reAlpha Mortgage (NASDAQ: AIRE) licensed in as of August 2025?

reAlpha Mortgage is currently licensed in 30 states, demonstrating significant progress in its national rollout strategy.

What types of mortgage products does reAlpha (NASDAQ: AIRE) offer?

reAlpha Mortgage offers a full suite of mortgage products including Conventional, VA, FHA, and USDA loans, supported by an expansive lender network and AI-optimized operations.

Who is leading reAlpha Mortgage's Utah expansion?

Dave Osofsky, an industry veteran with 23 years of experience, including 4.5 years as a broker/owner, is leading reAlpha Mortgage's Utah expansion.

Why did reAlpha (NASDAQ: AIRE) choose to expand into Utah?

Utah was chosen because it's among the top five fastest-growing states with approximately 1.8% population growth between July 2023-2024, offering significant market opportunity.