In the Money

Direct homebuyer OfferPad secures $150 million in funding to power growth

Targeting $1.5 billion in volume in 2018
There certainly appears to be no shortage of money interested in investing in the burgeoning direct homebuyer segment. Opendoor has been raising money hand over fist, a newcomer named Perch launched last week with $30 million in funding, plus Zillow and Redfin both recently expanded into direct buying. The other growing player is OfferPad, which announced this week that it recently secured $150 million in new funding to continue growing its direct buyer business.
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Direct homebuyer Perch raises $30 million to fund expansion

Currently available in San Antonio, Texas
The move towards institutionalizing the home-flipping business has another player: Perch. The company, which is based in New York, launched recently and is currently buying houses directly from homeowners and selling those houses in San Antonio, Texas. The company plans to grow beyond San Antonio and has secured $30 million in funding to power that growth.
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Mutual of Omaha Bank acquiring Synergy One Lending

Deal will allow Mutual of Omaha to expand into reverse mortgages
Mutual of Omaha Bank, the banking arm of insurance giant Mutual of Omaha, is expanding its mortgage platform by acquiring Synergy One Lending, a mortgage lender based in California. One important piece of the deal for Mutual of Omaha: acquiring Synergy One will allow the company to expand into reverse mortgage lending.
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The state of the multifamily market in three top 10 lists

New York, Dallas-Fort Worth, and Los Angeles exhibit big-time lending and building activity
The data on Q1 2018 keeps rolling in, and it can be a little overwhelming. Here is a round up of three top 10 lists that sum up what you need to know about the state of the national multifamily market by the numbers.
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Freddie Mac outstrips Fannie Mae in multifamily guarantee growth by 19 percentage points

Multifamily lending market looks healthy as both companies report growth in their multifamily portfolios
Freddie Mac’s multifamily guarantee portfolio grew 30% year-over-year whereas Fannie Mae’s grew by 11% YoY. According to both companies’ quarterly financial results, Freddie grew its portfolio from $164 billion to $213 billion. Fannie grew its portfolio from $253.3 billion to $281.3 billion. This translates to 152,000 rental units and 154,000 units funded, respectively.
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Quicken Loans reports lending growth in Q1, stays atop the leaderboard for the second consecutive quarter

Quicken points to proprietary tech as a key driver in its growth
Quicken Loans is feeling itself, announcing Wednesday that in the first quarter, for the second consecutive quarter, it has held onto the title of number one loan originator, posting a total of $20.5 billion in loan originations. This is a 5% jump year-over-year, and Quicken points to its proprietary tech as the wind in its sails.
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Redwood Trust inks deal with 5 Arches to grow single-family rental loan business

Buying minority interest in investor-focused originator
Redwood Trust, a real estate investment trust that specializes in buying and securitizing jumbo mortgages, is set to expand into investor-focused loans thanks to a new deal with 5 Arches. Under the deal, Redwood Trust is buying 20% of 5 Arches, an originator and asset manager of investor-focused loans, including loans for single-family rental homes, multifamily bridge, and fix-and-flip residential real estate.
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Mortgage REIT merger: Two Harbors acquiring CYS Investments

Companies plot expansion into agency RMBS
Nearly two years ago, Two Harbors Investment Corp., a mortgage REIT, shuttered its mortgage securitization business, wherein the company bought jumbo mortgages and securitized them. And now, the company is preparing to expand its agency RMBS business by acquiring CYS Investments, a fellow mortgage REIT that specializes in investing in agency RMBS backed by fixed-rate single-family residential mortgage loans, adjustable-rate mortgages and hybrid ARMs.
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Waterton plans $2.5 billion investment in multifamily housing

Announces closing of $920 million investment fund
Waterton, a national real estate investor and operator, is planning to invest more than $2.5 billion in multifamily housing over the next two years after closing its largest-ever investment fund. According to David Schwartz, Waterton’s chief executive officer, chairman, and co-founder, the firm has big plans for Venture XIII, which is the firm’s largest fund ever.
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