When it comes to the mortgage impact of Compass’ purchase of Anywhere Real Estate, Rate comes out as a big winner thanks to the joint ventures it has with both companies. The Rate/Anywhere JV, Guaranteed Rate Affinity, was formed in 2017, when what was then known as Realogy teamed up with the lender after ending […]
Rate gets mortgage benefit of Compass-Anywhere deal Read More »
Radian Group is diversifying its operations away from real estate finance, exiting its businesses outside of mortgage insurance and purchasing a specialty underwriter. In related moves, Radian will be acquiring Inigo Limited, a Lloyds specialty insurer for $1.7 billion in what it termed “a primarily all-cash transaction.” Meanwhile, in what Radian lately has called its
Radian says hi to specialty insurer, bye to conduit, title Read More »
In its second transaction this month, Rithm Capital took steps to further diversify its business, this time buying office property real estate investment trust Paramount Group for $1.6 billion. It will pay $6.60 for each Paramount share, funding by cash and liquidity from the balance sheets of both companies. The company also spoke of potential
Rithm purchasing commercial REIT Paramount Group for $1.6B Read More »
Union Home Mortgage reached an agreement to acquire the assets of Sierra Pacific Mortgage, National Mortgage News has confirmed. Terms of the transaction were not available. The Strongsville, Ohio company headed by past Mortgage Bankers Association Chairman Bill Cosgrove has completed a number of acquisitions in recent years. “We are excited to work with such
Union Home Mortgage to acquire Sierra Pacific assets Read More »
Rithm Capital announced a new acquisition that adds an insurance business and further boosts its efforts to grow beyond its real estate roots toward asset management. The New York-based company and parent to mortgage lender Newrez will purchase alternative investment firm Crestline Management, a firm currently responsible for $17 billion in assets. Based in Fort
Rithm Capital moves into insurance with new acquisition Read More »
The majority of Rocket holders with senior debt that’s part of the tender offer and exchange related to the Mr. Cooper acquisition approved it, and the expiration was extended Tuesday. This suggests the pending deal, which recently received a key conditional approval from the regulator of large government-related mortgage investors, will move toward closing. Rocket
Rocket debt extended as Mr. Cooper deal moves toward closing Read More »
The oversight agency for two government-sponsored enterprises greenlighted plans for industry giant Rocket Cos. to buy megaservicer Mr. Cooper, but only under certain conditions. Fannie Mae and Freddie Mac’s regulator will require the new combined company to have “appropriate financial and operating safeguards.” Their regulator specifically is requiring them to each maintain “strict counterparty risk
GSEs’ regulator allows Rocket-Mr. Cooper combo with caveats Read More »
Glen Burnie Bancorp When Mark Hanna told his banker friends that the Maryland-based community bank he leads was planning to buy a mortgage lender, they “looked at me as if I had five eyes,” he recalled this week. The underwhelming reaction came as little surprise, said Hanna, who is the president and CEO of Glen
Maryland community bank bucks trend, pins hopes on mortgages Read More »
Hedge fund billionaire Bill Ackman is fueling more speculation about President Trump’s suggested Fannie Mae-Freddie Mac merger this fall, but experts debate the near-term benefits. The Pershing Square Capital Management CEO linked the concept to President Trump’s Truth Social post depicting a public offering for a single entity, citing the potential for a government-sponsored enterprise
Experts weigh Fannie-Freddie merger prospects Read More »
Anniemac Home Mortgage is making its second acquisition in two weeks, adding construction lending experience to its ranks. The New Jersey-based lender Tuesday said it acquired certain assets of Florida-based Home Solution Lenders. The company, which recorded almost $200 million in loan volume last year, brings expertise in construction-to-permanent loans, Anniemac said. “Having an experienced,
Anniemac buys a second Florida mortgage shop Read More »