In the Money

Opendoor lands $300 million capital infusion

The iBuyer is now valued at $3.8 billion
Digital real estate disrupter Opendoor has landed yet another massive cash infusion, raising $300 million in a recent investment round and bringing its total equity capital to $1.3 billion. Now, the company – which aims to change the way Americans buy and sell homes by whittling the process down to a few simple online transactions – is valued at $3.8 billion.
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Homeownership investment company Point raises $122 million

Plans to work with investors to tackle housing affordability issues
Homeownership investment company Point just landed a major cash infusion that will fund its plans to help more Americans access their home equity, raising $100 million in platform capital and securing $22 million in a Series B funding round. "We are witnessing the emergence of a whole new class of financial solution that is aligned with homeowners, and investors are taking notice," said Point Co-Founder and CEO Eddie Lim.
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Wells Fargo CEO Tim Sloan lands $2 million bonus day after congressional beatdown

Some members of Congress called for his firing, instead he got a raise
Looks like Tim Sloan's week is looking up. On Tuesday, the Wells Fargo CEO received a brutal lashing from Congress during a four-hour hearing before the House Financial Services Committee, during which he was raked over the coals for the bank's numerous misdeeds. But just a day later, the board of directors gave Sloan a 5% raise, increasing his total pay to a whopping $18.4 million, which includes a $2 million bonus.
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Is San Francisco's housing market about to get even crazier?

Pending wave of tech IPOs could send house prices into stratosphere
This year, a number of major Silicon Valley tech companies are set to go public, and it could have a serious impact on house prices in San Francisco. Uber, Lyft, Slack, Postmates, Pinterest and Airbnb are all planning to launch IPOs in 2019, according to The New York Times, and this will likely spur a crop of freshly minted millionaires looking to drop some serious dough to upgrade their nests.
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Goldman Sachs invests in construction finance tech startup Rabbet

Wall Street giant takes part in $8 million Series A funding
Rabbet, a construction finance technology startup based in Austin, Texas, just raised $8 million in its Series A funding round, but that’s not the big story. The big story is one of the companies that participated in the funding round. Included among Rabbet’s new backers is Goldman Sachs, the Wall Street giant.
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Expert: M&A to pick up as down cycle begins

Not enough borrowers to compete for
Mergers and acquisitions are about to pick up as the housing market sees the beginning of its down cycle, according to Ted Krus, Flagstar Bank director of executive projects and a 2017 HousingWire Rising Star.
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These markets are hotbeds for luxury real estate

Report reveals top 5 "power markets" for high-net-worth buyers and sellers
A new report by Coldwell Banker reveals where the country's wealthiest individuals are buying properties, listing the top 5 "power markets" for luxury real estate. Coldwell defines power markets as areas that offer the lifestyle amenities, education, and culture that the uber-rich seek out. Here are Coldwell's top five power markets for buyers and sellers, where you can find the greatest number of $1 million-plus homes sold.
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Former LandCastle Title CEO Nat Hardwick sentenced to 15 years for embezzling $26 million

Former CFO Asha Maurya sentenced to seven years in prison
The saga of Nathan (Nat) Hardwick, the former CEO of LandCastle Title and former managing partner of Morris Hardwick Schneider, is finally nearing its end. Back in October, Hardwick was found guilty of embezzling more than $25 million from his former companies, a crime that destroyed a prominent real estate law firm and left hundreds of people jobless. And this week, a federal judge sentenced Hardwick to serve 15 years in prison for his crimes.
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Americans are way more in debt now than they were after the financial crisis

Auto loans push household debt 21% above post-crisis levels
American household debt continues to climb to record levels, reaching $13.54 trillion in the fourth quarter of 2018. According to the latest report from the Federal Reserve Bank of New York, household debt is now $869 billion higher than 2008’s $12.68 trillion peak – and 21.4% above the debt levels seen in the wake of the financial crisis.
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