Technology

Quicken Loans parent company Rock Holdings just bought Dictionary.com (really)

Continues acquisition streak for Rock Holdings
Rock Holdings, the parent company of Quicken Loans, is getting into the dictionary and thesaurus business. Literally. Rock Holdings announced this week that it acquired Dictionary.com and Thesaurus.com, websites that boast approximately 540 million pageviews per month. But why, one might ask? Read on.
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Airbnb takes Boston to court over city’s “draconian” short-term rental rules

Argues city’s laws violate Constitution, federal and state laws
The city of Boston has new rules surrounding short-term rentals that are set to go into effect on Jan. 1, 2019. According to Airbnb, Boston’s short-term rental rules violate the Constitution, multiple federal laws, and Massachusetts state law. Airbnb also claims the city's rules threaten short-term rental sites with “draconian” punishments should they violate the city’s rules.
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LoanScorecard launches new solution

SimpleCECL utilizes Andrew Davidson & Co’s credit and prepayment model
LoanScorecard announced it launched a new solution designed to provide loan-level analyses for current expected credit loss provisioning reserves. The company explained SimpleCECL will replace the current “incurred loss” model and goes into effect in 2020 for SEC-filing institutions and 2021 for all other financial institutions.
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Cloudvirga appoints new chief customer success officer

Jesse Decker previously served as Roostify's vice president of client services
Cloudvirga announced that Jesse Decker has joined the company as its chief customer success officer. Decker comes to the company with more than two decades of experience overseeing enterprise technology transformations and customer success programs.
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Vacasa wants to help landlords turn empty apartments into short-term rentals

Vacation rental management platform expands into multifamily
Vacasa, which bills itself as the “largest vacation rental company” in North America and recently raised $64 million, now has its sights set on the multifamily industry. Vacasa announced Wednesday that it is expanding into the multifamily business by launching Vacasa Multifamily, a new initiative wherein the company will seek to partner with landlords in urban city centers to turn empty apartments into short-term rentals.
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Top multifamily operators band together, plan massive investment in real estate tech

Launch venture capital fund with $108 million in the bank
Five major multifamily real estate investment trusts, Aimco, Boardwalk, Essex Property Trust, MAA, and UDR, are partnering with private owners Starwood Capital Group, Cortland, and GID to invest more than $100 million in a venture capital fund, which will be used to invest in “disruptive real estate technology companies” in the multifamily industry.
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Redfin partners with Notarize to enable completely online mortgage experience

With eClosings, Redfin takes the final step toward digital mortgages
Redfin has taken the final step toward providing its clients with a fully digital home buying experience. The listings giant’s mortgage arm has announced a partnership with Notarize in a deal that offers Redfin Mortgage clients the ability to close on a home quickly, easily – and completely online.
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Fintech lender Prosper enters mortgage arena with eyes on HELOC disruption

Bets on growth in home equity lending with digital offering
Fintech lender Prosper, a longtime player in the personal lending space, has set its sights on the home equity sector, announcing plans Wednesday to enter mortgage lending with the release a digital HELOC product in early 2019. “We are taking advantage of our expertise in consumer credit and personal loans to build a product that removes the complexity and time-consuming barriers in applying for a HELOC,” said Prosper CEO David Kimball.
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Amrock levies blockbuster claims against HouseCanary, wants $740 million verdict overturned

Claims HouseCanary engaged in collusion, fraud, and deception
HouseCanary and its top executives engaged in collusion, fraud, and deception as part of an effort to convince a jury to order Amrock to pay out one of the largest judgments in the country this year, Amrock claims in a blockbuster legal filing. And based on these new revelations, Amrock wants a new trial and the $740 million judgment against it tossed out.
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