Lending

SoFi officially locks in $500 million investment led by Silver Lake

Brings SoFi’s total equity funding to $1.9 billion
SoFi locked in another massive funding deal, being it’s total equity funding to $1.9 billion. While the deal includes a familiar name, it’s private-equity firm Silver Lake that led the deal. Mike Cagney, SoFi co-founder, chairman, and CEO, touches on where the online lender plans to go from here.
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NAFCU to CFPB: Pull credit unions out from under your authority

Credit unions continue cry for regulatory relief
Credit unions got looped in with the rest of the industry after the financial crisis, falling under the new industry watchdog dubbed the Consumer Financial Protection Bureau to ensure such extreme lending would never happen again. The only problem is that credit unions believe they never contributed to the crisis.
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Warren Buffett gives us all an update on his stake in affordable housing

Time for annual, public letter to Berkshire Hathaway shareholders
Every year billionaire investor Warren Buffett releases an annual letter to Berkshire Hathaway shareholders, unraveling the inner workings of his conglomerate’s performance. The 29-page document details the status of Clayton Homes, which specializes in manufactured homes, a key industry in fixing the affordability crisis.
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Monday Morning Cup of Coffee: Trump targets CFPB funding for greater control

Is his election slowing down affordable housing? California thinks so
President Donald Trump's budget proposal reportedly includes a big change for the CFPB. We have the details for you. Plus, will the Fed raise rates in March? Here's one way to get a clue. Also, did the Oscars get its first HUD joke? Twitter thinks so. And Trump's election appears to be costing California some much-needed affordable housing.
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Fannie Mae announces new front-end credit risk-sharing deal

Deal with insurers provides up to $375 million in coverage
Fannie Mae announced Friday that it executed its second front-end credit risk-sharing deal through its Credit Insurance Risk Transfer program. The deal provides insurance coverage on a maximum coverage of approximately $375 million from pools of single-family mortgages that carry a combined unpaid principal balance of approximately $15 billion.
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[Video] MBA CEO: The future of Fannie Mae and Freddie Mac reform

We need to be concerned about the housing finance system
After nearly 10 years under conservatorship, reforming Fannie Mae and Freddie Mac is finally high up on the President’s priority list. However, there is still no official plan around what exactly this reform will look like. The CEO of the largest trade group in the mortgage finance space gives his take on what the future for reform will likely look like.
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Trial date set for former LandCastle Title CEO Nat Hardwick

Stands accused of conspiring to embezzle $20 million
Exactly one year ago, federal authorities arrested Nathan (Nat) Hardwick, the former chief executive officer of LandCastle Title and former managing partner of Morris Hardwick Schneider, on charges that he embezzled millions of dollars from his former companies. And exactly one year from now, Hardwick will stand trial for allegedly conspiring to steal more than $20 million from the attorney escrow accounts and operating accounts of Morris Hardwick Schneider and LandCastle Title.
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