In the Money

Credit Karma enters the mortgage business by buying Approved

Personal finance company has more than 80 million members
Credit Karma, the personal finance company that provides its 80 million members with products and services to manage their finances and connects those members to financial services providers, is officially getting into the mortgage business by acquiring Approved, a digital mortgage platform.
Read More

HSBC agrees to $765 million settlement with DOJ over pre-crisis mortgages

Plus $26.8 million settlement with Massachusetts
HSBC revealed Monday that it recently agreed to a “settlement-in-principle” with the Department of Justice that would see the bank pay a $765 million civil penalty that would resolve an investigation into the bank’s mortgage origination and securitization activities from 2005 to 2007. But that's not the only pending settlement for the London-based bank.
Read More

Nationstar's Xome acquires Assurant Mortgage Solutions

Looks to grow third-party sales
Xome, a subsidiary of Nationstar, announced it acquired Assurant Mortgage Solutions from Assurant, a global provider of risk management solutions, for $35 million. The acquisition expands Xome’s footprint and grows its third-party client portfolio in its valuation, title and field services business.
Read More

OCC to begin offering bank charters to nonbank fintech companies

Move already angering state regulators
Tuesday was a big day for fintech companies. In addition to the Department of the Treasury rolling out a series of proposals that could alter the playing field for fintech companies, the Office of the Comptroller of the Currency also announced Tuesday that it will begin offering bank charters to nonbank fintech companies.
Read More

Zillow expanding direct homebuyer program to Atlanta

Home sellers in Atlanta will soon be able to sell directly to Zillow
Homeowners in Atlanta will soon have a new outlet when it comes time to sell their house – Zillow. Beginning in the fall of this year, Atlanta homeowners will be able to sell their home directly to Zillow, if they so choose. The move into Atlanta is an expansion of Zillow’s direct buying program, Zillow Offers, which the company launched earlier this year.
Read More

The most expensive towns in the U.S. – and what it costs to live there

Here’s how much you need to make to live in the top 10 priciest ZIP codes
Everyone knows that living in Beverly Hills, California, or Greenwich, Connecticut, doesn’t come cheap. But how much, exactly, does it take to live there? A recent report by GOBankingRates spells it out, naming the most expensive ZIP codes in each state and determining what it costs to comfortably live there – and the results are staggering.
Read More

Beazer Homes buying Atlanta competitor Venture Homes for $65M

Deal allows Beazer to grow Atlanta-area business
Beazer Homes is expanding again. Back in December, Beazer expanded its Carolinas operation by acquiring Bill Clark Homes for nearly $30 million. The homebuilder announced this week that it is acquiring Venture Homes, a private homebuilder in Atlanta, for approximately $65 million.
Read More