In the Money

Goldman Sachs invests in construction finance tech startup Rabbet

Wall Street giant takes part in $8 million Series A funding
Rabbet, a construction finance technology startup based in Austin, Texas, just raised $8 million in its Series A funding round, but that’s not the big story. The big story is one of the companies that participated in the funding round. Included among Rabbet’s new backers is Goldman Sachs, the Wall Street giant.
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Expert: M&A to pick up as down cycle begins

Not enough borrowers to compete for
Mergers and acquisitions are about to pick up as the housing market sees the beginning of its down cycle, according to Ted Krus, Flagstar Bank director of executive projects and a 2017 HousingWire Rising Star.
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These markets are hotbeds for luxury real estate

Report reveals top 5 "power markets" for high-net-worth buyers and sellers
A new report by Coldwell Banker reveals where the country's wealthiest individuals are buying properties, listing the top 5 "power markets" for luxury real estate. Coldwell defines power markets as areas that offer the lifestyle amenities, education, and culture that the uber-rich seek out. Here are Coldwell's top five power markets for buyers and sellers, where you can find the greatest number of $1 million-plus homes sold.
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Former LandCastle Title CEO Nat Hardwick sentenced to 15 years for embezzling $26 million

Former CFO Asha Maurya sentenced to seven years in prison
The saga of Nathan (Nat) Hardwick, the former CEO of LandCastle Title and former managing partner of Morris Hardwick Schneider, is finally nearing its end. Back in October, Hardwick was found guilty of embezzling more than $25 million from his former companies, a crime that destroyed a prominent real estate law firm and left hundreds of people jobless. And this week, a federal judge sentenced Hardwick to serve 15 years in prison for his crimes.
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Americans are way more in debt now than they were after the financial crisis

Auto loans push household debt 21% above post-crisis levels
American household debt continues to climb to record levels, reaching $13.54 trillion in the fourth quarter of 2018. According to the latest report from the Federal Reserve Bank of New York, household debt is now $869 billion higher than 2008’s $12.68 trillion peak – and 21.4% above the debt levels seen in the wake of the financial crisis.
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Propertybase acquires real estate lead gen company BoldLeads

BoldLeads' lead gen technology integrated into Propertybase platform
Real estate technology company Propertybase announced it is acquiring BoldLeads, a real estate lead generation solutions company. BoldLeads' lead gen solution is now part of Propertybase's real estate platform and clients now have access to generate buyer/seller leads, according to the companies.
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LoanSnap raises nearly $5 million to help borrowers get “smart” loans

Backers include Richard Branson’s Virgin Group, Joe Montana’s Liquid 2 Ventures
LoanSnap, a tech startup that claims it uses artificial intelligence to help borrowers obtain “smart loans,” announced Tuesday that it raised $4.7 million to expand its offerings. According to LoanSnap, the company’s “smart loans” allow homebuyers to “not only find the best home loan for their unique financial situation, but to also understand and effectively manage overall debt to build a more secure financial future.”
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