In the Money

Beazer Homes expanding homebuilding operations in Carolinas

Buys hundreds of sites in $29 million deal with Bill Clark Homes
Beazer Homes, a homebuilder based in Atlanta, is set to expand its homebuilding operations in North and South Carolina thanks to a $29 million deal with Bill Clark Homes, a private homebuilder that operates in the Carolinas. Here are the details.
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Fannie and Freddie make more money per employee than almost any other company

GSEs’ profit per employee is among highest in the world
What Fannie Mae and Freddie Mac do with the money they make has long been a debate in the housing finance world. What has never been up for debate is just how much money the GSEs make. Being the major (only?) players in the secondary mortgage market has been good business for Fannie and Freddie for some time. But new analysis puts the GSEs’ business into stark perspective.
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Japan’s SoftBank completes $3.3 billion acquisition of Fortress Investment Group

Parent company of New Residential, majority shareholder of Nationstar acquired
SoftBank Group’s move into the U.S. financial markets took a huge step forward on Wednesday, as the Japanese technology company completed its previously announced $3.3 billion acquisition of Fortress Investment Group, a global investment giant that has a huge stake in the U.S. housing finance system.
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Virginia Partners Bank set to acquire majority of Johnson Mortgage Company

Transaction takes effect on Jan. 1, 2018
Virginia Partners Bank, a community bank that has operations in Maryland and Virginia, will soon acquire a majority interest in Johnson Mortgage Company, a residential mortgage company headquartered in Newport News, Virginia. Upon completion of the deal, Virginia Partners will own 51% of Johnson Mortgage.
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Trump tax reform sets markets up for Santa Rally

Passage expected this week
While the corporate tax cuts will lead to Fannie Mae and Freddie Mac needing some temporary monetary support from the Treasury, there isn’t much downside investors can see to the tax reform. Both the Dow and S&P are up in this morning’s trading.
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TCF Bank completes acquisition of Rubicon Mortgage Advisors

Rebranding as TCF Home Loans
TCF National Bank, a Minnesota-based depository, announced that it has completed its acquisition of Rubicon Mortgage Advisors, a mortgage lender with offices in Minnesota and North Dakota and licenses to operate in South Dakota, Wisconsin, Colorado, and California.
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Private equity firm Thomas H. Lee Partners takes ownership stake in Guaranteed Rate

Firm makes “material capital and strategic investment” in growing lender
Back in October, private equity firm Thomas H. Lee Partners acquired a majority interest in Ten-X, the parent company of Auction.com, but that’s not the only significant investment in the housing industry that the firm is making this year. The firm is also investing in Guaranteed Rate and taking an ownership stake in the growing retail mortgage lender.
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CalAtlantic Homes boosts Atlanta presence by acquiring of Home South Communities

CalAtlantic set to be acquired by Lennar
CalAtlantic Homes, which is set to be acquired by Lennar in the first quarter of 2018 in a $9.3 billion deal, is doing some acquiring of its own. CalAtlantic announced this week that it is increasing its footprint in the Atlanta market by acquiring Home South Communities, one of the largest privately held homebuilders in the Atlanta metro market.
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Wintrust Mortgage acquiring Veterans First Mortgage

Veterans First on track to originate more than $800 million in loans in 2017
Wintrust Mortgage is about to increase its presence in Department of Veterans Affairs lending. Wintrust Financial Corporation, the parent company of Wintrust Mortgage, announced this week that Wintrust Mortgage is acquiring Veterans First Mortgage, a lender that specializes in VA lending.
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