Technology

Ocwen’s $360 million acquisition of PHH to close in days

Deal gets thumbs-up from regulators, but NYDFS has some conditions
Ocwen Financial’s $360 million acquisition of PHH Corp. is set to close within the next two weeks after approvals are received from all relevant regulatory agencies and governmental entities, the companies announced Friday morning. But the companies didn’t skate through the approval process totally unscathed. Finalizing the deal comes with some conditions from the New York Department of Financial Services, which has long been a thorn in Ocwen’s side.
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Elon Musk accused of securities fraud over Tesla tweets

SEC claims Musk’s tweets about taking Tesla private violated securities laws
Tesla Chairman and CEO Elon Musk committed securities fraud when he tweeted about taking the company private without actually securing funding as he claimed he had, the Securities and Exchange Commission claimed Thursday.
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Opendoor secures $400 million investment from Japan’s SoftBank

Growing direct homebuyer now has $3 billion in financial backing
Growing direct homebuyer Opendoor now has $3 billion in financial backing (yes, that’s “billion” with a “b”) thanks to a sizable new investment from Japanese technology company SoftBank Group. Opendoor announced Thursday that it secured a $400 million investment from SoftBank Vision Fund, SoftBank’s investment arm. But that's not all the funding Opendoor recently secured.
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Remine launches mobile MLS platform

Gives real estate agents contact info on 300 million consumers
MLS platform Remine just launched a mobile multiple listing service platform covering the 35 largest MLS markets in the nation. The app allows user to view new opportunities on the run, provides contact information on more than 300 million consumers and has a chat function for conversations between agents.
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JPMorgan expands blockchain network payments to 75 international banks

Ledger network seeks to ease processing times for non-traditional payments
JPMorgan has expanded blockchain-based payments to more than 75 international financial institutions in an effort to ease processing times for non-traditional payments. According to reporting by Financial Times (paywall), more than 75 banks, including Société Générale and Santander, are now testing the Interbank Information Network, or IIN.
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Coldwell Banker getting into the direct home buying business

Direct buying program could expand to other Realogy brands
Have we reached a tipping point in the trend of massive real estate players beginning to buy homes directly from homeowners? It looks like that may be the case, as one of the nation’s biggest real estate brands is planning to launch its own direct buying business, and its siblings may not be far behind.
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Tavant Technologies integrates with Homestar Financial Corporation

Homestar will bring VELOX to its customers
Tavant Technologies recently announced it has integrated its VELOX platform, with Homestar Financial Corporation to transform its digital mortgage experience. HOMESTAR Chief Digital Officer Walt Carter said the partnership will help the company provide a higher level of service to customers.
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Deephaven Mortgage launches new non-QM tool with LoanScorecard

The new tech will smooth out the origination and qualification processes for non-QMs
Deephaven Mortgage is launching a non-qualified-mortgage point-of-sale/pre-qualification tool called IDENTI-FI AUS to simplify the origination and qualification processes for Non-QMs. Now is a good time to be an originator in the Non-QM as Non-QM lending has been enjoying a big uptick in popularity this year, more than doubling production this year, according to LoanScorecard’s statement.
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Live Well Financial bets big on tech

Plans to launch enhanced platform to streamline forward and reverse lending
Whether they’re buying a car or refinancing a house, consumers want immediate information about their transaction at their fingertips. Acutely aware that mortgage shopping is no different, Live Well Financial is bankrolling a major upgrade in its lending platform in a bid to create a better, faster more automated experience for its customers and its originators.
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Fiserv Lending Solutions rebranding as Sagent Lending Technologies

Follows sale to Warburg Pincus
Earlier this year, Fiserv sold more than half of its mortgage servicing business to private equity firm Warburg Pincus for $395 million. The plan was for the companies to operate the servicing business, called Fiserv Lending Solutions, as a joint venture. And that’s still the case, although the joint venture won’t carry Fiserv’s name anymore.
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