In the Money

Mortgage REIT merger: Two Harbors acquiring CYS Investments

Companies plot expansion into agency RMBS
Nearly two years ago, Two Harbors Investment Corp., a mortgage REIT, shuttered its mortgage securitization business, wherein the company bought jumbo mortgages and securitized them. And now, the company is preparing to expand its agency RMBS business by acquiring CYS Investments, a fellow mortgage REIT that specializes in investing in agency RMBS backed by fixed-rate single-family residential mortgage loans, adjustable-rate mortgages and hybrid ARMs.
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Waterton plans $2.5 billion investment in multifamily housing

Announces closing of $920 million investment fund
Waterton, a national real estate investor and operator, is planning to invest more than $2.5 billion in multifamily housing over the next two years after closing its largest-ever investment fund. According to David Schwartz, Waterton’s chief executive officer, chairman, and co-founder, the firm has big plans for Venture XIII, which is the firm’s largest fund ever.
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Wells Fargo extends deadline to take part in $142 million fake account settlement

Deadline was February 3, new deadline is July 7
It’s been a busy day in the settlement department for Wells Fargo. Early Friday, the bank was fined $1 billion by the CFPB and the OCC for mortgage lending and auto insurance abuses. And late Friday afternoon, the bank notified customers that it is extending the deadline to participate in the bank’s $142 million fake account class action settlement.
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RealPage continues growing, set to acquire ClickPay for $218 million

Acquisition will be company’s fifth since 2017
RealPage, a provider of software and data analytics to the real estate industry, went on quite the run of acquisitions last year, acquiring four different companies throughout the year. As it turns out, RealPage isn’t done yet. The company announced Friday that it is acquiring ClickPay, an electronic payment platform servicing 2.3 million units across the multifamily, HOA, condominium and co-op segments of real estate, in a $218 million deal.
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Point secures $150 million commitment to buy equity from homeowners

Atalaya Capital Management agrees to buy $150 million in shared equity investments
Point, a financial technology platform that offers homeowners the opportunity take equity out of their home without taking on new debt, is set to grow thanks to a $150 million commitment from Atalaya Capital Management, a private investment firm. Under the agreement, Atalaya and Point entered into a forward flow purchase program wherein the investment firm is committing to buy as much as $150 million of Point’s shared equity instruments.
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Digital lending platform LenderClose secures new investment to power growth

Iowa-based company will hire 25 new employees
LenderClose, a digital lending platform for credit unions and community banks, is ready to plot the next stage of its growth thanks to a new investment from Next Level Ventures, a venture capital firm that invests in growing companies based in Iowa. The company did not make the specific financial details available, but the company said that it plans to use the money to hire 25 new employees.
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LenderLive announces acquisition of reQuire Holdings

Acquisition diversifies LenderLive's client base and expands technology-enabled product offerings
Mortgage services provider LenderLive announced Monday that it has acquired reQuire Holdings, a group of technology-enabled companies that provide compliance, quality assurance and valuation solutions for both the residential and commercial real estate markets. reQuire Holdings’ companies include reQuire Real Estate Solutions, Service 1st, CRES and Covius.
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Gamechanger: Zillow to begin buying and selling houses

Follows lead of Redfin and other direct homebuyers
Nearly one year ago, Zillow shook up the real estate industry when it announced that it was getting into the home selling business by launching “Zillow Instant Offers.” As it turns out, that was just the beginning. Zillow announced Thursday that it will begin buying homes and selling homes directly to and from homeowners.
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New Penn Financial acquiring Envoy Mortgage’s correspondent lending division

New Penn continues growth
New Penn Financial’s growth in the wake of its parent company being acquired by New Residential Investment Corp. is set to continue, as the lender announced Monday that it is acquiring the correspondent lending division of Envoy Mortgage. Late last year, New Residential announced that it planned to acquire Shellpoint Partners, which owns New Penn, in a $190 million deal.
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