Articles by Ben Lane

Ditech runs into trouble with creditors; boots COO after just 9 months

More rough waters ahead for nonbank
Well, we’ve gone a solid two months without a bad headline for Ditech Holding Corp., the nonbank formerly known as Walter Investment Management, but it looks like the company is in trouble again. The company disclosed in an SEC filing that it's run into more trouble with creditors and is firing its COO after just nine months.
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Goldman Sachs invests $15 million for supportive housing in New Jersey

Partners with New Jersey Community Capital
Aiming to provide housing options for the state’s “most vulnerable populations,” Goldman Sachs is partnering with New Jersey Community Capital to provide $15 million to be used for supportive housing in the Garden State. Supportive housing is an affordable housing option that also provides services like job training and placement to its residents.
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Freddie Mac just had its biggest year ever in multifamily

Multifamily support hits all-time high
We already knew that Freddie Mac set an all-time record for multifamily security issuance in 2018, so it probably shouldn’t come as a surprise that 2018 was the government-sponsored enterprise’s best overall year ever in multifamily. Here are more details about how the GSE got there.
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Radian acquires real estate software and data analytics provider Five Bridges Advisors

Company will eventually carry Radian name
Radian Group is continuing with its stated strategy to diversify its business offerings and boosting its real estate software and data analytics capabilities, as the company announced Wednesday that it acquired Five Bridges Advisors. The company provides mortgage, consumer, and real estate analytics, along with valuation and risk management tools for the entire loan lifecycle, from underwriting and origination to servicing, secondary market purchase, and securitization.
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European co-living company Quarters raises $300 million for substantial U.S. expansion

Plan to develop 1,300 new co-living units in the next three years
Whether it’s because they’re attracted to communal, dormitory-style living or because that’s all they can afford these days, Millennials and other younger generations are increasingly turning to co-living as a housing option. The idea has taken off in recent years, with several different companies beginning to expand on the idea of shared living. And now, one of Europe’s largest co-living developers is planning to make a big push in the U.S.
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New York claims real estate brokers made $21 million through illegal Airbnb rentals

Sues Metropolitan Property Group for allegedly violating short-term rental laws
A group of New York City real estate brokers made $21 million through a series of illegal Airbnb short-term rentals in flagrant violation of the city’s short-term rental laws, the city claims in a new lawsuit. According to the city, Metropolitan Property Group, its owners, and others were repeatedly warned to stop violating the city’s short-term rental laws, but chose to continue to do so, earning more than $21 million in illegal revenue from Airbnb.
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Knock raises $400 million, plans massive expansion of home trade-in program

Direct buyer now operating in five markets
Around this time last year, Knock, a real estate startup that buys homes directly from homeowners, unveiled an expansion plan that would see the company grow its business beyond its first market of Atlanta. Since then, the company has indeed expanded and is now operating in five markets, but the company has much bigger plans than that. And now, the company has the money to reach those goals.
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Mr. Cooper laying off 109 mortgage employees in California

Latest rounds of cuts for mortgage industry
Over the last several months, layoffs have hit companies across the housing industry as the industry works to find solid footing in a shifting mortgage market. One company that’s been growing is Mr. Cooper Group, the nonbank formerly known as Nationstar Mortgage. But, layoffs are about to hit Mr. Cooper, too.
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