Lending software platform MeridianLink will go back into private hands after announcing Monday it had agreed to terms of an acquisition deal with investment management firm Centerbridge Partners. The deal to reprivatize the Irvine, California-based technology provider is the latest in a wave of mortgage-related mergers and acquisitions this year and also comes as advances […]
MeridianLink agrees to privatization deal Read More »
Rithm Capital announced it has entered into an agreement to purchase $1 billion worth of loans from lending fintech Upgrade. The forward-flow agreement between the real estate investment trust and the San Francisco-based neobank has Rithm acquiring $1 billion worth of home improvement loans originated and serviced by Upgrade over the coming year. The deal
Rithm buys $1B in home reno loans from Upgrade Read More »
Rocket Cos. returned to profitability in the second quarter even with a Spring home sales market which started off poorly, but has been gaining momentum month-by-month that should continue beyond September, company management said. During the quarter, the company reported net income of $34 million. This compared with a first quarter loss of $212 million.
Rocket profitable in Q2 in spite of weak spring market Read More »
Anniemac Home Mortgage is buying a small Florida-based shop, in a move that will grow its presence in the Sunshine State. Anniemac will acquire certain assets of Florida Funding, a firm based in Orlando. Since its founding in 2017, the Florida-based company has originated more than $600 million in loans, a press release claims. Details
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Beeline Financial announced Tuesday it is exiting its unusual partnership with an Oregon-based publicly traded distillery, a little less than a year after the two companies announced plans to merge. The digital mortgage lender said it will instead focus on expanding its offerings in home finance, as it expects the housing market to recover next
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Real estate and mortgage intelligence provider Ingenius announced an acquisition and integration of a new recruitment platform aimed at helping retail branch managers into its own data tools. The Pompano Beach, Florida-based technology firm welcomed the deal that combines SIMPL with Ingenius’ data software. Built by longtime mortgage sales leaders Fobby Naghmi and John Perry,
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UPDATE: This story now includes quotes from M&T’s chief financial officer and commentary from an analyst who covers the bank. M&T Bank outperformed second-quarter expectations, driven by a spike in noninterest income. Noninterest income at the Buffalo, New York-based company rose by 17% in the second quarter compared with the same period a year ago.
M&T tops estimates, eyes mergers for Northeast expansion Read More »
Union Home Mortgage announced Tuesday the expansion of its footprint in the Midwest. A team of 16 employees, led by two former UMortgage managers, will join UHM’s existing team in Cincinnati, Ohio, according to a news release. Ravi Patel and Justin Allen, who spent more than two years at mortgage brokerage UMortgage, will both serve
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Capital One confirmed it is closing the home equity lending business it acquired in the purchase of Discover. The news first appeared in a Reddit thread last week and then in Home Equity Lending News on July 1. That thread noted the company already notified affected employees of the decision to close the business known
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Rocket Companies announced Tuesday it has officially closed its $1.75 billion acquisition of Redfin. In light of that, Rocket is launching a product called Rocket Preferred Pricing to encourage consumers to use both its mortgage and real estate services. Borrowers who purchase a home with a Redfin agent and finance it through Rocket Mortgage can
Rocket closes Redfin deal, rolls out buyer incentives Read More »