In the Money

Trump administration wants to make it easier to save for retirement

Executive order seeks to strengthen retirement security
Americans have not saved enough for retirement, and it’s a problem that some are calling a looming crisis as the population continues to age. President Donald Trump addressed the issue today, signing an executive order that would expand access to retirement savings plans for American workers.
Read More

Opendoor goes nationwide

Plans expansion into California, Pacific Northwest, and more
Opendoor, an online marketplace that buys homes directly from homeowners, is about to go nationwide. The company told HousingWire this week that it plans to expand into California, the Pacific Northwest, and several other areas over the next few months.
Read More

Trump cancels looming pay raise for federal workers

Workers at HUD, FHA, FHFA, other agencies see raises disappear
Nearly two million federal government employees, including many at the Department of Housing and Urban Development, the Federal Housing Administration, the Department of Veterans Affairs, the Federal Housing Finance Agency, and all other federal agencies, were due a pay raise in January, but that won’t happen anymore.
Read More

News Corp’s Move acquiring Texas real estate startup Opcity for $210 million

Company matches homebuyers and sellers with real estate agents
Move, which is owned by media giant News Corp and operates Realtor.com for the National Association of Realtors, is about to grow its real estate empire by acquiring a Texas-based real estate technology startup that claims its technology can match qualified homebuyers and sellers with real estate agents in real-time. News Corp announced late Wednesday that Move is acquiring Opcity, which was founded in 2015, for $210 million.
Read More

Burgeoning real estate giant Compass buying Pacific Union

The real estate tech company just took over the biggest brokerage in California
Growing real estate tech company Compass is buying Pacific Union, the fifth largest brokerage in the nation. Compass is serious about growth and has been on an absolute tear since raising a whopping $775 million in funding over the last few years. And now, the company is putting some of that money towards seriously growing its California business by acquiring Pacific Union.
Read More

NXT Capital gets financial boost as ORIX completes acquisition of lender

NXT’s real estate division funds multifamily, office, student housing, more
NXT Capital, a lender that provides financing for the acquisition of multifamily, office, retail, industrial, hotel, student housing, and other corporate dealings, has more financial backing to grow its business now that it's under the umbrella of ORIX Corp. USA.
Read More

loanDepot CEO personal net worth reportedly at $2 billion

Anthony Hsieh set to get even richer with Amazon at the door
While Amazon continues to build a mortgage division within its ranks, the online giant reportedly continues to search for a strategic acquisition to buy into the mortgage retail space. One name often put forward is loanDepot, though CEO Anthony Hsieh is already reportedly doing just fine without needing to sell the company.
Read More

Comeback kids: Is it time for the return of the joint-venture?

Relaxing regulations and competitive market conditions could bring favor back to the JV
The return of the joint venture might be nigh upon us. Last week, the Federal Reserve lifted its hand off of Flagstar Bancorp, terminating its Supervisory Agreement with the company. Could this be indicative of sea-change for the mortgage lending industry?
Read More