Ben Lane is the Editor for HousingWire. In this role, he helps set a leading pace for news coverage spanning the issues driving the U.S. housing economy and helps guide HousingWire's overall direction. Previously, he worked for TownSquareBuzz, a hyper-local news service. He is a graduate of University of North Texas.
The consolidation of the homebuilding industry continues. Last week, Taylor Morrison announced that it is acquiring fellow homebuilder AV Homes in a deal valued at nearly $1 billion. Next up is Century Communities, which announced Friday that it is acquired the remaining 50% of Wade Jurney Homes in a deal that creates the nation’s 10th largest homebuilder.
A federal court has finally given final approval to Wells Fargo’s $142 million class action settlement for the bank’s customers who had a fake account opened in their name. The final approval comes nearly a year after the settlement received preliminary approval by the judge overseeing the lawsuit, and more than a year after the settlement was first announced.
Equifax is continuing to reshape its leadership in the wake of the massive data breach that exposed the personal information of nearly 148 million U.S. consumers to hackers. Back in February, Equifax added a new chief information security officer, replacing one of the executives who left after the breach. Now, the company is adding another executive to help move the company forward.
One of the biggest players in the growing direct homebuyer segment is about to get much, much bigger. Opendoor, an online marketplace that buys homes directly from homeowners, announced Wednesday that it secured $325 million in new funding and is planning a nationwide expansion of its homebuying platform.
Merrill Lynch will pay $15.7 million to settle allegations that its employees misled mortgage bond customers and overcharged those customers residential mortgage-backed securities trades during a three-year period from 2009 through 2012, the Securities and Exchange Commission announced this week.
Lender Price is about to be in the market for a new CEO, as sources close to the situation tell HousingWire that Jerry Halbrook is set to leave the company later this week amid a disagreement with the company’s founders and board about the direction and future of the company.
Plaza Home Mortgage, a full-service national lender that offers wholesale, correspondent, renovation, and reverse mortgages, announced this week that it promoted Michael Fontaine to serve as the company’s chief operating officer. Fontaine previously served as Plaza’s chief financial officer and will maintain that role going forward in addition to his newly added responsibilities as COO.
China Oceanwide Holdings Group’s $2.7 billion acquisition of Genworth Financial, one of the U.S.’s largest mortgage insurers, is now one step closer to fruition, as a governmental inter-agency committee that oversees foreign investment in the U.S. has cleared the deal.
The federal government announced Monday that it conducted a massive sweep and arrested nearly 75 people who allegedly participated in schemes designed to intercept and hijack wire transfers from businesses and individuals, including those involving real estate transactions. The operation also resulted in the seizure of nearly $2.4 million, and the disruption and recovery of approximately $14 million in fraudulent wire transfers.
The three-year battle is now over. The Consumer Financial Protection Bureau moved Thursday to dismiss its case against PHH, a remarkable turnaround that crystallizes the differences between former CFPB Director Richard Cordray and current Acting Director Mick Mulvaney.
The 2018 Rising Stars represent the best young leaders in the mortgage industry. Many of our 46 winners are leading companies as C-level executives, making strategic decisions for their organizations or developing new and inventive ways to get things done. Others are contributing through product development, data management or finding new ways to engage with consumers. Across the board, their efforts and accomplishments are influencing the present and future course of our industry.
The multiple characteristics of blockchain make it an incredibly attractive mechanism across industries. It provides an unchangeable, time-stamped ledger that allows for real-time and simultaneous input. It is the perfect set-up for industries where transactions are routinely moved from entity to entity or business to business and where records need to be verified and audited. Naturally, therefore, in the world of title and real estate, blockchain provides an incredibly innovative platform.
It has been proven time and time again that companies that make an investment in workplace culture attract the industry’s best talent and achieve greater success. For leaders who want to see their business grow to the next level, the solution is to focus on building a great culture — a culture of excellence.