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    President Donald Trump's former campaign chair was just found guilty of tax and bank fraud. A jury in Alexandria, Virginia, found former Trump presidential campaign chair Paul Manafort guilty on eight charges of tax and bank fraud. The jury, which was deliberating 18 total charges, was unable to reach a consensus on 10 of the counts. Click the headline for the full story.

In the Money

Union Home Mortgage acquires NOIC/Concord

Makes second asset purchase in six weeks
Union Home Mortgage is on a roll. The Ohio-based lender has made its second asset acquisition in six weeks’ time, announcing today the purchase of assets from NOIC, Inc./Concord. Last month, the lender acquired assets from Arizona’s Alliance Home Loans in a deal that it said would push annual loan production to more than $4 billion.
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More homebuilder consolidation: Century Communities buys Wade Jurney Homes

Deal creates nation’s 10th largest homebuilder
The consolidation of the homebuilding industry continues. Last week, Taylor Morrison announced that it is acquiring fellow homebuilder AV Homes in a deal valued at nearly $1 billion. Next up is Century Communities, which announced Friday that it is acquired the remaining 50% of Wade Jurney Homes in a deal that creates the nation’s 10th largest homebuilder.
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Opendoor raises $325 million, plans nationwide expansion

Direct homebuyer plots expansion into 50 markets by 2020
One of the biggest players in the growing direct homebuyer segment is about to get much, much bigger. Opendoor, an online marketplace that buys homes directly from homeowners, announced Wednesday that it secured $325 million in new funding and is planning a nationwide expansion of its homebuying platform.
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Feds arrest dozens in sweeping action against hackers targeting wire transfers

Including those targeting real estate transactions
The federal government announced Monday that it conducted a massive sweep and arrested nearly 75 people who allegedly participated in schemes designed to intercept and hijack wire transfers from businesses and individuals, including those involving real estate transactions. The operation also resulted in the seizure of nearly $2.4 million, and the disruption and recovery of approximately $14 million in fraudulent wire transfers.
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Direct homebuyer FlyHomes raises $17 million, plans expansion into mortgages

Funding round led by prominent Silicon Valley venture capital firm Andreessen Horowitz
There’s a growing player in the burgeoning direct homebuying segment that now boasts the backing of one of Silicon Valley’s top venture capital firms. Seattle-based FlyHomes recently announced that it raised $17 million in its Series A funding round, which was led by Andreessen Horowitz, which previously invested in Facebook, Airbnb, Foursquare, Skype, Twitter, and others.
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Monday Morning Cup of Coffee: Goldman Sachs teases big move into mortgages

Marcus for mortgages? Maybe
Once a big player in mortgage lending, Goldman Sachs’ footprint in housing finance has gotten significantly smaller since the financial crisis…but that could be about to change. Is Marcus for mortgages coming soon? It appears that's something the megabank is considering. That, and more, in your Monday Morning Cup of Coffee.
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Citizens Bank buying Franklin American Mortgage for $511 million

Citizens claims deal will push bank into nation’s top 15 mortgage companies
Citizens Bank is about to significantly grow its mortgage business, announcing Thursday that it reached a deal to acquire Franklin American Mortgage Company in a $511 million deal. Citizens said that the deal will triple the size of its off-balance sheet mortgage servicing portfolio and more than double its mortgage origination platform.
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Flat fee real estate company Home Bay buys 50% stake in OnTitle

Real estate tech company will now offer title and settlement services
Over the last few years, Home Bay, a San Diego-based real estate technology company, has steadily expanded its operation beyond California. And now, the company is about to grow again, but not by expanding to a new state. Rather, Home Bay announced this week that it is getting into the title insurance and settlement services business.
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Lenders: Goldman Sachs, Zillow entering fix-and-flip market is a good thing

“A rising tide lifts all boats”
Over the last few years, the market for financing fix-and-flip projects and single-family rentals has grown significantly. In just the last year or so, massive players like Goldman Sachs, Zillow, Redfin, and others have entered those markets. And one might think that current operators in the fix-and-flip market would view those big companies entering the market as a bad thing, but that’s not the truth.
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