In the Money

Virginia Partners Bank set to acquire majority of Johnson Mortgage Company

Transaction takes effect on Jan. 1, 2018
Virginia Partners Bank, a community bank that has operations in Maryland and Virginia, will soon acquire a majority interest in Johnson Mortgage Company, a residential mortgage company headquartered in Newport News, Virginia. Upon completion of the deal, Virginia Partners will own 51% of Johnson Mortgage.
Read More

Trump tax reform sets markets up for Santa Rally

Passage expected this week
While the corporate tax cuts will lead to Fannie Mae and Freddie Mac needing some temporary monetary support from the Treasury, there isn’t much downside investors can see to the tax reform. Both the Dow and S&P are up in this morning’s trading.
Read More

TCF Bank completes acquisition of Rubicon Mortgage Advisors

Rebranding as TCF Home Loans
TCF National Bank, a Minnesota-based depository, announced that it has completed its acquisition of Rubicon Mortgage Advisors, a mortgage lender with offices in Minnesota and North Dakota and licenses to operate in South Dakota, Wisconsin, Colorado, and California.
Read More

Private equity firm Thomas H. Lee Partners takes ownership stake in Guaranteed Rate

Firm makes “material capital and strategic investment” in growing lender
Back in October, private equity firm Thomas H. Lee Partners acquired a majority interest in Ten-X, the parent company of Auction.com, but that’s not the only significant investment in the housing industry that the firm is making this year. The firm is also investing in Guaranteed Rate and taking an ownership stake in the growing retail mortgage lender.
Read More

CalAtlantic Homes boosts Atlanta presence by acquiring of Home South Communities

CalAtlantic set to be acquired by Lennar
CalAtlantic Homes, which is set to be acquired by Lennar in the first quarter of 2018 in a $9.3 billion deal, is doing some acquiring of its own. CalAtlantic announced this week that it is increasing its footprint in the Atlanta market by acquiring Home South Communities, one of the largest privately held homebuilders in the Atlanta metro market.
Read More

Wintrust Mortgage acquiring Veterans First Mortgage

Veterans First on track to originate more than $800 million in loans in 2017
Wintrust Mortgage is about to increase its presence in Department of Veterans Affairs lending. Wintrust Financial Corporation, the parent company of Wintrust Mortgage, announced this week that Wintrust Mortgage is acquiring Veterans First Mortgage, a lender that specializes in VA lending.
Read More

Freddie Mac launches single-family rental financing pilot program

Partners with CoreVest
Freddie Mac and CoreVest are partnering on a pilot program, which is expected to expand financing options for investors in single-family rentals for workforce and affordable housing. "Today, Freddie Mac Multifamily has taken another important step to increase the availability of affordable rental housing in communities across the country," said David Leopold, vice president of targeted affordable sales & investments at Freddie Mac Multifamily.
Read More