The latest economic and policy trends facing mortgage servicers

Join this webinar for an in-depth roundtable discussion on economic and policy trends impacting servicers as well as a look ahead at strategies servicers should employ in the next year.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

Zillow analyst on whether home prices can keep climbing

Today’s episode of HousingWire Daily features an interview with Nicole Bachaud, as she discusses annual and monthly home price appreciation growth, rising inventory levels and rent prices.

Lenders, it’s time to consider offering non-QM products

The non-QM market is making a comeback following a pause in 2020. As lenders rush to implement, Angel Oak is helping them adopt these new lending products.

InvestmentsPeople Movers

Celebrity Financial buys mortgage lending firm

Purchases Midwest Equity Mortgage, plans to go on acquisition tear

Celebrity Financial, a financial-services holding company, purchased Midwest Equity Mortgage, an independent mortgage lender, in the first of several acquisitions Celebrity said it is preparing for in the near future.

"We searched far and wide for the right partner for our first acquisition and immediately saw that Midwest Equity was a perfect fit with the right infrastructure already in place to support the strategic mission. What they've built in a little over a decade is nothing short of remarkable, and we're looking forward to expanding upon their success," Celebrity's CEO David Robnett said in a statement.

In the next 12 to 24 months, the company, which currently operates in 15 states, said it plans to purchase companies in a number of industries including banking, fintech, insurance and capital markets.

The sale of Midwest Equity Mortgage is pending regulatory approval but it is expected to close in Q3. Midwest Equity Mortgage Partner and Co-Founder Pete Gabrione, along with Dave Hansen – also partner and co-founder at MEM – will both take significant equity positions in Celebrity, per the terms of the acquisition.

"Right from the start we felt a connection to David Robnett and his vision. Our Consumer Direct channel will continue to lead the industry, while our Retail channel will now have the vital support and expertise necessary to its expansion," Gabrione said in a statement.

 

Latest Articles

Refis stubbornly make a bit of a comeback

The week following Labor Day saw a flurry of mortgage loan application activity, with volume jumping by 4.9% for the seven days ending Sept. 17, according to the MBA. Refis were on the front foot again.

Sep 22, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please