In the Money

Blackstone’s Incenter completes acquisition of Agents National Title Insurance Company

Continues Incenter’s recent string of acquisitions
Over the last few years, Incenter, a Blackstone Group portfolio company, expanded its business offerings through a series of deals, including expanding into title and settlement services by acquiring Boston National. But the Boston National deal wasn’t Incenter’s only move into title and settlement services.
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Expert warns latest Ginnie Mae regs aren't improving FHA and VA pricing as intended

Questions remains exactly why this is happening
Brent Nyitray, director of capital markets for iServe Residential Lending, said in an email today that loan officers are taking note of “lousy” pricing for FHA and VAs higher up in the rate stack. But, Ginnie Mae just issued new regulations to prevent serial refinances. Why isn't it leading to higher demand?
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First American completes acquisition of BofA lien release business

Will provide lien release services for bank
First American Financial Corp., a provider of title insurance, settlement services and risk solutions, announced Thursday the completion its acquisition of Bank of America’s lien release business. The major deal makes Bank of America’s lien release business and its employees part of First American’s mortgage solutions division.
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SEC halts $600 million alleged cryptocurrency scam that aimed to revolutionize banking

AriseBank claimed it was building the world’s first “decentralized bank”
The Securities and Exchange Commission halted the operations of a company that claimed it raised $600 million in an initial coin offering as part of an effort to “revolutionize banking” using cryptocurrency. The SEC complaint alleges that AriseBank used social media, a celebrity endorsement (from Evander Holyfield, no less), and other tactics to raise hundreds of millions of dollars in just a few months.
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Neptune Flood secures $2 million in seed financing round

Flood insurance provider planning expansion
Flood insurance provider Neptune Flood has secured more than $2 million in seed round funding. The investment was led by Trevor Burgess, founder and former CEO of C1 Bank, with participation from existing investor and Neptune’s CEO and co-founder, Jim Albert.
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Japan’s SoftBank continues U.S. real estate push by leading $865 million investment in Katerra

Makes sizable investment in construction disruptor
In the last few years, Japanese technology company SoftBank Group has undertaken a significant move into the U.S. real estate and housing market with a series of investments and acquisitions. Now, SoftBank is making another move into U.S. real estate by leading a massive capital raise in Katerra, a company that wants to revolutionize the construction industry.
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