In the Money

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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Elon Musk accused of securities fraud over Tesla tweets

SEC claims Musk’s tweets about taking Tesla private violated securities laws
Tesla Chairman and CEO Elon Musk committed securities fraud when he tweeted about taking the company private without actually securing funding as he claimed he had, the Securities and Exchange Commission claimed Thursday.
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Opendoor secures $400 million investment from Japan’s SoftBank

Growing direct homebuyer now has $3 billion in financial backing
Growing direct homebuyer Opendoor now has $3 billion in financial backing (yes, that’s “billion” with a “b”) thanks to a sizable new investment from Japanese technology company SoftBank Group. Opendoor announced Thursday that it secured a $400 million investment from SoftBank Vision Fund, SoftBank’s investment arm. But that's not all the funding Opendoor recently secured.
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Former Bankrate CFO gets 10 years for cooking the books to the tune of $25 million

Pleaded guilty to defrauding shareholders out of $25 million
The former chief financial officer of Bankrate will spend the next 10 years in prison after admitting in court earlier this year that he falsified the company’s accounts in a scheme that ended up costing shareholders $25 million. According to the Department of Justice, Edward DiMaria used his position at Bankrate to artificially boost the company’s earnings from 2010 through 2014.
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WSJ: Antitrust chief to slash merger review times

Makan Delrahim intends to limit the review process for mergers to six months or less
The Justice Department’s antitrust chief, Assistant Attorney General Makan Delrahim, said the department is going to significantly reduce the review time of proposed mergers, according to a report by Brent Kendall from the Wall Street Journal. According to data compiled by law firm Dechert LLP, the average duration of significant U.S. merger investigations has been about 10 months in recent years.
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Coldwell Banker getting into the direct home buying business

Direct buying program could expand to other Realogy brands
Have we reached a tipping point in the trend of massive real estate players beginning to buy homes directly from homeowners? It looks like that may be the case, as one of the nation’s biggest real estate brands is planning to launch its own direct buying business, and its siblings may not be far behind.
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Loan officer makes list of best 100 jobs

Here are the best 100 jobs of 2018
US News & World Report just released its rankings of the 100 Best Jobs in 2018, and thanks to employment growth and flexibility, loan officer made the cut at No. 57. According to the rankings, the Bureau of Labor Statistics projects an 11% jump in employment for LOs between 2016 and 2026, with 36,500 jobs to become available in the coming decade. Other professions found in the lending world also made the list.
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Singapore real estate giant CapitaLand enters U.S. multifamily with $835 million acquisition

Buying 16 Class-B properties in Seattle, Portland, Los Angeles, and Denver
With rents continuing to rise with little sign of slowing, multifamily real estate in the U.S. is beginning to draw some serious international investor interest, as one of Asia’s largest real estate companies is planning a U.S. invasion of its own. Singapore’s CapitaLand announced Tuesday that it is entering the U.S. multifamily market with an $835 million acquisition of 16 apartment communities in Seattle, Portland, Los Angeles, and Denver.
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Quicken Loans onboards new agency to head massive marketing effort

Universal McCann takes over media buying and planning operations
According to an article from AdAge by Adrianne Pasquarelli and Megan Graham, IPG MediaBrands’ Universal McCann will now be the agency of record responsible for Quicken Loans’ media planning and buying, which Rock Holdings, Quicken’s parent company, has already made considerable investment in.
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