In the Money

Rent-to-own innovator Divvy raises $30 million to fund growth

Funding round led by Andreessen Horowitz
Divvy Homes, a real estate startup aiming to revolutionize rent-to-own and fractional ownership, just raised $30 million to help the company continue growing. Divvy officially launched earlier this year with $7 million in funding. But now, the company has $30 million more at its disposal.
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NYSE parent company ICE acquires MERS

ICE buys remaining stake in mortgage registry
Intercontinental Exchange, the parent company of the New York Stock Exchange, is now also the parent company of MERSCORP Holdings, as the companies announced Friday that ICE has acquired all of MERS.
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Senate Democrats call for federal investigation into money laundering in luxury real estate

Sens. Van Hollen and Whitehouse ask GAO to look into all-cash market
The Treasury Department’s Financial Crimes Enforcement Network has been looking into whether foreign buyers are using shell companies to buy luxury U.S. real estate in order to launder money for almost three years, but two Democratic senators want the government to do more to figure out how much criminal activity is prevalent in these deals.
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Ocwen completes $360 million acquisition of PHH, Glen Messina takes over as CEO

Former PHH CEO assumes leadership of newly combined company
PHH Corp. is now officially part of Ocwen Financial, as Ocwen’s $360 million acquisition of PHH is now complete, the companies announced Thursday morning. But those aren’t the only big changes for Ocwen and PHH. In conjunction with the deal’s closing, former PHH CEO Glen Messina has officially taken over as president and CEO of Ocwen.
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Roofstock offering investors guaranteed rent on single-family rental homes

Company will pay investors rent on vacant properties for 12 months
Roofstock, a platform for buying and selling single-family rental homes, is offering a unique carrot to try to entice investors to use its platform to buy a property: guaranteed rent. Roofstock announced Tuesday that it is rolling out what it calls an “industry-leading” guarantee that provides up to 12 months of rent on a vacant property purchased through the company’s platform.
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SoFi wants to make it easier for borrowers to take out a home improvement loan

Partners with Kukun to provide homeowners with more info about loan benefits
SoFi is preparing to arm borrowers with more information to help them decide whether taking out a home improvement loan is the right decision for them. The growing lender announced this week that it is partnering with Kukun to use Kukun’s technology to provide prospective borrowers with new tools that will help them determine how much a home improvement project would cost and how it could affect the value of their home.
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Taylor Morrison closes AV Homes acquisition

Companies finalize deal worth nearly $1 billion
National homebuilder and developer Taylor Morrison announced Tuesday it has finalized its acquisition of AV Homes. The deal, valued at close to $1 billion, marks a significant new phase in Taylor Morrison's growth strategy and expands its scale in five overlapping markets.
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Compass raises another $400 million, now valued at $4.4 billion

SoftBank invests in real estate tech company, again
Is Compass the one real estate tech startup to rule them all? The company certainly has enough money to do so. Compass announced this week that it just raised another $400 million in its Series F funding round, which reportedly values the company at $4.4 billion.
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Better Homes and Gardens Real Estate Paracle expands into Raleigh with acquisition

Firm acquires three offices in Raleigh from Better Homes and Gardens Real Estate Go Realty
Better Homes and Gardens Real Estate Paracle acquired three Raleigh, North Carolina, offices from fellow Better Homes and Gardens Real Estate Franchise network member Better Homes and Gardens Real Estate Go Realty. In its statement Paracle says it acquired the offices break into the market it calls the “Silicon Valley of the East,” because of its appeal to major tech corporations like Apple and Amazon.
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