In the Money

Real estate listings site Zumper raises $46 million to build instant rental feature

Plans “Book Now” platform with funding from Axel Springer, Blackstone
As mellohome CEO Chris Heller recently noted, there’s a race afoot to be the dominant player offering a true one-stop-shop for homebuying. There appears to be a similar sprint happening on the rental side of the business as well. Case in point, rental listings site Zumper is preparing to roll out its own end-to-end platform that will allow renters to instantly rent an apartment or a home through its site.
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Finicity, Capsilon partner to streamline loan applications

Verification of Assets solution integrated into Capsilon’s borrower and loan officer workspaces
Finicity, a fintech company and 2018 HW Tech100 winner, announced an integration with Capsilon into its Verification of Assets solution. Capsilon Chief Operating Officer Jim Obsitnik said the mortgage industry is undergoing radical transformation driven by technology.
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Single-family rental giant bets big on house flipping market

Amherst Holdings is putting up $1 billion to fund the launch and expansion of a house flipping operation called Bungalo
Amherst Holdings, one of the largest single-family rental entities in the U.S., is putting up $1 billion to back a platform it can use to sell off homes it has flipped. According to a Bloomberg article, Amherst owns or manages roughly 20,000 single-family rentals and is launching a subsidiary called Bungalo to flip properties, selling them at no-haggle prices in the hopes of attracting buyers who want a simpler home buying experience.
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FirstClose gets capital infusion

Tech provider lands multi-million-dollar investment to fuel continued growth
Mortgage technology provider FirstClose has landed funding from Cypress Growth Capital to fuel its mission to capture more market share. While the exact dollar amount was not revealed, FirstClose, which saw its revenue climb 62% last year, said it received a multi-million-dollar investment from the Dallas-based Cypress Growth.
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RealPage completes $100 million acquisition of LeaseLabs

Provider of digital marketing services and software is RealPage’s latest acquisition
RealPage’s $100 million acquisition of LeaseLabs is now complete. The acquisition of LeaseLabs is just the latest for RealPage, a provider of software and data analytics to the real estate industry. This is RealPage’s sixth since January 2017 and pushes the company’s total outlay for its recent expansion past $1 billion.
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Americans have the highest amount of tappable equity in history

There is now more than $6 trillion for the taking, but fewer homeowners are touching it
The amount of home equity accessible to America’s 44 million homeowners surpassed $6 trillion – the highest level in history. Now, Americans have three times as much equity as they did when the market bottomed out in 2012, and 21% more than they did at before the bubble burst in 2006. Yet, fewer appear to be taking advantage of this major source of wealth.
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Retirement experts: Trump's order on retirement savings falls short

Fixing the retirement problem means fixing Social Security
Last week, President Donald Trump made a move to address what many are calling a looming retirement crisis that could cripple the country as more Baby Boomers age. While his promise to “take care of our people, to rebuild our nation, and to fight for our great American workers” sounds great, some retirement experts question whether it really amounts to much.
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RBS meets $400 million consumer relief goal by handing out $130 million in relief

Bank completes consumer relief portion of its $500 million settlement with New York
Just six months after the Royal Bank of Scotland reached a $500 million settlement with the state of New York over the bank’s mortgage practices in the run-up to the housing crisis, RBS has reached the settlement’s $400 million consumer relief goal, by providing just under $130 million in actual relief.
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$85 million NYC condo comes with 2 tickets to space, $1 million yacht, more

Agency tosses in perks to overcome stalled NYC luxury market
New York City’s luxury market has been clogged with too much inventory in recent months, slowing the sale of high-end properties, like this 15,000 square-foot duplex penthouse in Hell’s Kitchen. The owner just put the property back on the market, adding a list of eye-popping perks in a bid to sweeten the pot.
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