Articles Tagged with ''Lennar Corporation''

Movement Mortgage buying big piece of Lennar’s Eagle Home Mortgage

Acquiring retail operations of homebuilder’s mortgage arm
Movement Mortgage has been through a couple rounds of layoffs this year, but when the nonbank lender laid off 180 employees back in October, CEO Casey Crawford said the company had no plans to step back. And that’s just what the company has done. Movement Mortgage announced Wednesday that it is acquiring a big piece of Lennar’s mortgage arm, Eagle Home Mortgage.
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Hippo raises $70 million in funding with help from Felicis Ventures and Lennar

Digital home insurance company has now raised a total of $109 million in capital
Hippo Insurance recently announced it raised $70 million in growth funding, bringing the company's total amount of capital raised to $109 million. The California-based company has managed to grow sales 30% month over month, grabbing the attention of some serious heavy hitters.
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Moody's: Homebuilding outlook falls from positive to just ok

Macro factors and order trends expected to slow growth
Moody’s Investor Service has lowered its homebuilding outlook from positive to stable, signaling macro factors and order trends are expected to impact future growth. Moody's VP-Senior Credit Officer Joseph Snider said the firm believes that industry revenue growth will be below 10% by 2019.
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Lennar subsidiary Eagle Home Mortgage fined $13.2 million for FHA lending violations

The False Claims Act ain’t dead yet
It appears the False Claims Act ain’t dead yet. The Department of Justice announced Friday that it reached a $13.2 million settlement with Universal American Mortgage Company, the mortgage subsidiary of Lennar that does business as Eagle Home Mortgage, to resolve allegations that the lender violated the False Claims Act by falsely certifying that it complied with FHA lending standards.
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Lennar names new CEO for first time in 21 years

Stuart Miller promoted from CEO to executive chairman, Rick Beckwitt named CEO
Lennar, which became the nation’s biggest homebuilder earlier this year when it bought fellow homebuilder CalAtlantic Group in a $9.3 billion deal, announced recently that it is making a series of executive changes. The changes, which consist of promoting several of the company’s leaders, mark the first significant shakeup of the company’s leadership in some time.
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CalAtlantic Homes boosts Atlanta presence by acquiring of Home South Communities

CalAtlantic set to be acquired by Lennar
CalAtlantic Homes, which is set to be acquired by Lennar in the first quarter of 2018 in a $9.3 billion deal, is doing some acquiring of its own. CalAtlantic announced this week that it is increasing its footprint in the Atlanta market by acquiring Home South Communities, one of the largest privately held homebuilders in the Atlanta metro market.
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Fitch, Moody’s bullish on massive Lennar-CalAtlantic merger

Both cite combined company’s size as significant benefit
On Monday, Lennar and CalAtlantic Group announced a deal that will see Lennar acquire CalAtlantic in a deal valued at approximately $9.3 billion. The deal will create the nation’s largest homebuilder. Both Fitch Ratings and Moody's Investors Service are bullish on the deal. Here's why.
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Lennar merger will create nation’s largest homebuilder

Deal with CalAtlantic makes company top 3 builder in 24 of 30 largest markets
It’s turning out to be a year of significant growth for Lennar. Earlier this year, the homebuilder closed on a $643 million acquisition of WCI Communities, a luxury homebuilder headquartered in Florida. But that deal pales in comparison to Lennar’s latest deal.
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Lennar targets Millennials with mortgage that pays off their student loans

Lennar subsidiary Eagle Home Mortgage offers unique lending product
A recent study showed that mounting student loan debt is holding Millennials back from buying homes – for seven years. But one homebuilder is trying to make that seven-year delay go away. Eagle Home Mortgage, a mortgage lender and a subsidiary of Lennar, announced Tuesday that it is rolling out a new mortgage program that will help homebuyers pay off their student debt.
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Lennar bullish after new home demand reaches 10-year high

New orders, deliveries, revenue from home sales all see double-digit increases
The most recent data on housing starts and new home sales painted a decidedly gloomy picture about the state of the nation’s housing economy. And while some observers are suggesting that the lack of housing supply is nearing “emergency” status, one prominent homebuilder is seeing just the opposite.
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