In the Money

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.
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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.
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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.
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RBS to pay $20 million to Illinois pension funds over crisis-era mortgage bonds

New settlement is bank’s eighth such settlement in recent years
For the third time this year, the Royal Bank of Scotland is about to pay up over the bank’s mortgage practices in the run-up to the housing crisis. RBS has already reached a nearly $5 billion settlement with the Department of Justice and a $500 million settlement with the state of New York. Now, the bank has agreed to a new $20 million settlement with the state of Illinois.
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HomeStreet to sell a piece of its mortgage servicing portfolio

Bank will sell $5B of its single-family MSRs to Matrix Financial
Seattle bank HomeStreet announced this week it will sell a piece of its mortgage servicing rights to Matrix Financial Services. The deal, which includes an unpaid principal balance of $4.9 billion in single-family MSRs, amounts to approximately 20% of the bank’s single-family servicing portfolio.
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New Residential completes $190M acquisition of Lewis Ranieri’s Shellpoint Partners

Shellpoint is the parent company of New Penn Financial and others
New Residential Investment Corp.’s acquisition of Shellpoint Partners, a mortgage vehicle that is owned in part by Lewis Ranieri’s Ranieri Partners, is now complete. The companies announced this week that the $190 million deal, which was first announced in November 2017, is now finalized.
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Morgan Stanley fined for failing to protect clients

Agrees to pay SEC $3.6M for weak policies
Morgan Stanley agreed to pay a $3.6 million fine after regulators determined it failed to detect or prevent the misappropriation of client funds, the U.S. Securities and Exchange Commission said Friday. As part of the agreement, Morgan Stanley did not admit or deny any wrongdoing.
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