In the Money

Trump reportedly picks Jerome Powell as next Fed Chair

Experts say will play historic role in housing affordability through the next decade
After much anticipation over who will lead the Federal Reserve after current chair Janet Yellen’s term is up next year, President Donald Trump reportedly made his decision on Wednesday. The administration notified the next Fed Chair of its plans to complete the official nomination Thursday morning. Here’s who Trump chose.
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Mark Calabria: Trump administration "committed" to ending conservatorship

Pence’s chief economist renews commitment for GSE reform
During a wide-ranging discussion about the government’s role in housing, Vice President Mike Pence’s chief economist Mark Calabria revealed Wednesday that the Trump administration is "committed" to ending the conservatorship of Fannie Mae and Freddie Mac. What else did Calabria say? Click through to find out.
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TCF Bank buying Rubicon Mortgage Advisors

Lender operates in Minnesota, North Dakota, California, others
TCF National Bank, a Minnesota-based depository, announced this week that it will acquire Rubicon Mortgage Advisors, a mortgage lender with offices in Minnesota and North Dakota and licenses to operate in South Dakota, Wisconsin, Colorado, and California. The companies say the deal is a win-win. Here's why.
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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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RBS will pay $44 million for cheating customers in mortgage bond trading

Will pay $35 million penalty, $9 million in restitution to victim customers
RBS Securities agreed to pay $44 million as part of a non-prosecution agreement covering allegations that the company’s mortgage-backed securities trading group defrauded its customers out of millions of dollars by lying about mortgage bond trades, the Department of Justice and the Special Inspector General for the Troubled Asset Relief Program announced Thursday.
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Amherst Holdings boosts single-family rental portfolio in $153.4 million deal

Acquires 1,523 properties from Tricon American Homes
Amherst Holdings, which has recently been selling single-family rental homes out of its portfolio to Altisource Residential, announced this week that its single-family residential platform completed an acquisition of rental properties that pushes its total portfolio to approximately 16,000 homes.
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Ocwen considers selling more pieces of lending business

Discloses that it may exit reverse mortgage lending
When 2017 began, Ocwen Financial had six mortgage origination lines of business: correspondent, wholesale, and retail in both forward and reverse mortgage lending. But the nonbank could soon only have one active lending channel, as the company disclosed this week that it is considering selling off more pieces of its lending business.
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