Investments

Citi’s slightly higher earnings pulled down by mortgage revenue in Q1

Causes retail banking to increase just 4%
Citigroup reported Friday a slight increase in its earnings from last year, but this was not thanks to its mortgage banking revenues, which actually pulled earnings down slightly. While the bank doesn’t say much on its mortgage activity, Citi did report that if it excludes mortgage revenues, its retail banking revenue increase doubles.
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Regions Bank invests in Kevin Costner-backed mortgage startup Lender Price

Will also begin using Lender Price to improve bank’s digital lending process
When a fintech startup announces a new investor, the investor is usually an equity firm or some other private investor. Lender Price, a mortgage and consumer digital lending technology platform provider, is going about things a little differently. The company’s lead investor is none other than Kevin Costner (yes, that one), and now, the company has a new investor, a prominent depository institution.
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Private capital interest in mortgages growing? Angel Oak closes its largest securitization

More than 80% of loans are non-QM
Earlier this year, Angel Oak Capital Advisors, an investment management firm that specializes in mortgage credit, raised $291 million to invest in mortgages that don’t fit inside the Qualified Mortgage box. Apparently Angel Oak’s investors aren’t the only ones interested in non-QM loans. Angel Oak announced this week that it closed its largest securitization to date, a $328.78 million offering comprised largely of non-QM mortgages.
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Starwood Capital Group expands asset management team

Adds two to senior-level roles
Global private investment firm Starwood Capital Group announced this week it has made two senior additions to the firm's asset management team. In January, Alex Waterbury joined Starwood as managing director, head of development, and in June, Andrea Pierce will be joining the firm to serve as the managing director, head of office asset management.
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HomeUnion launches crowdfunding platform for single-family rentals

Individual investors can now buy into “fix-and-flip fund”
HomeUnion, an online residential real estate investment firm, is increasing its presence in the single-family rental market. Back in 2015, HomeUnion began lending to single-family rental investors. Now, HomeUnion is launching a new program that will make the company itself an investor in single-family rentals, but the company isn’t using its own money.
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From HW Magazine

April Kudos: Celebrating milestones, launches and awards in the mortgage industry

CoreLogic, Calyx Software, New Penn and HousingWire
The J. Ronald Terwilliger Foundation for Housing America’s Families is giving $3 million to Enterprise Community Partners, a nonprofit that designs and builds affordable housing. The grant is designed to create “innovative, integrated approaches” in areas like job training and healthcare that can increase economic mobility. The grant will be used to fund a two-year effort that includes assessing existing programs and identifying priority needs.
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From HW Magazine

Should you be investing in cryptocurrency?

A look at the turbulent world of initial coin offerings
Initial coin offerings are the latest red-hot investment trend, seeking to disrupt the traditional means of raising venture capital for startup businesses and firms. The market itself has witnessed an incredible expansion in the last year, but as the cryptocurrency market explodes and new coins flood the market, is the Securities and Exchange Commission looking to cool down its rapid-paced growth? 
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From HW Magazine

How mortgage companies are capitalizing on their greatest asset: big data

APIs have changed the game
The evolution from a paper-based process to this era of big data is astounding. Consider that according to IBM, 90% of the world’s data has been created in the last two years. The Internet of Things — your thermostat, refrigerator, even your kid’s Barbie doll — is increasing that data exponentially. For mortgage companies, that data represents a treasure trove more valuable than the gold bars stacked in the vault at the New York Federal Reserve Bank, but only if they can figure out how to harness it for their specific business. Fortunately, scores of fintech companies are ready to help.
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From HW Magazine

The 2018 HW Tech100

The most innovative technology companies in housing
This year’s HW Tech100 features a much more expansive landscape than ever before. Winners included heavy hitters and innovative disruptors. Even new tech players in the blockchain space are joining the party now. Other exciting developments can be seen on the identity-protection and fraud-prevention sides. But make no mistake, the name of the game in tech, these days, is lending, lending, lending.
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