In the Money

How bad is it for Equifax? Company reveals full fallout from data breach

How much has it cost? Plus what else is credit reporting agency facing
It’s been just over two months since Equifax disclosed that it had been the victim of a “cybersecurity incident” that exposed the personal information of 145.5 million U.S. consumers. Since then, the fallout from the data breach has been extensive, to say the least. But now, for the first time, the company is detailing the full fallout from the breach - and it's more than extensive.
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Nationstar in talks with California, New York to settle regulatory issues

SEC filing reveals ongoing settlement negotiations
Earlier this year, the Consumer Financial Protection Bureau hit Nationstar Mortgage, the nonbank also known as Mr. Cooper, with a $1.75 million fine for the company’s alleged failure to comply with the reporting requirements of the Home Mortgage Disclosure Act. But it looks like that wasn’t the only regulatory issue the company is dealing with this year.
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Real estate tech company Compass raises $100 million, plans massive expansion

Capital raise values company at $1.8 billion
Last year, Compass raised $75 million in a round of funding that turned the company into real estate’s newest billion-dollar startup company. Now, one year later, the company’s valuation is nearly double that, thanks to another significant capital raise. And the company plans use this new funding to launch a massive expansion.
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Fannie Mae selling $1.23bn in NPLs to Goldman Sachs subsidiary

MTGLQ Investors buying another 7,500 loans
The winning bidder is MTGLQ Investors, which is a “significant subsidiary” of Goldman Sachs. Over the last few years, Goldman Sachs used MTGLQ to buy billions and billions in loans from both of the GSEs. And now, it's buying over than a billion more in loans from Fannie Mae.
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Did Bill Dallas shutter most of NewLeaf Wholesale?

Sources: Layoffs mixed with plans to buy retail/wholesale/reverse platform
Here’s what we’ve heard so far: Bill Dallas told national sales leader Tom Conklin that he was letting nearly everyone at NewLeaf go, in order to finalize a secret mortgage lender acquisition he was reportedly chasing.
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Zillow just had its best quarter ever

Sees record profit and revenue in third quarter
There seems to be something about the third quarter that’s good for Zillow's business. Last year’s third quarter saw the company post its biggest profit ever – and its first quarterly profit since the fourth quarter of 2013. Since then, it's been three straight quarters back in the red for Zillow. But now that the third quarter has come around again, Zillow is back in the black, with another record-breaking quarter.
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Capital One suddenly exits mortgage and home equity business

Says mortgage business is too competitive
Capital One announced Tuesday it is exiting the mortgage and home equity business immediately, just a few years after becoming a major player in the mortgage finance market. The sudden move will mean about 900 layoffs across the division, the majority of whom are in the Dallas area. Click the headline to see why Capital One says it’s leaving the mortgage industry.
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Mr. Cooper leads $7 million funding for digital homeowners insurance agency Matic

Will make Matic’s services available in coming digital mortgage platform
Mr. Cooper, the nonbank formerly known as Nationstar, is getting into the homeowners insurance business – sort of. Mr. Cooper isn’t going to be writing its own insurance policies, at least not yet, but the company did invest in Matic Insurance Services, a digital homeowners insurance agency that allows mortgage borrowers to buy homeowners insurance during the mortgage transaction.
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Equifax clears execs in data breach insider trading probe

Company says execs did not know about breach when they sold company stock
Four Equifax executives were not aware of the massive data breach at the credit reporting agency when they sold off more than $1.5 million in company stock before the breach became public knowledge, the company said Friday. Here's the timeline.
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