Items Tagged with 'Mergers and acquisitions'

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  • Fidelity National, Stewart call off $1.2 billion merger after FTC moved to block deal

    Stewart also names new CEO
    Just days after the Federal Trade Commission tapped the brakes on the merger of Fidelity National Financial and Stewart Information Services, the deal that would have combined two of the country’s largest title insurance providers is now dead. The two companies announced Tuesday that they are calling off the deal that would have seen Fidelity buy Stewart for $1.2 billion.
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  • FTC moves to block $1.2 billion merger of Fidelity National and Stewart

    Alleges merger would "substantially reduce competition" in title insurance market
    The $1.2 billion merger of Fidelity National Financial and Stewart Information Services, two of the country’s largest title insurance providers, already had a major hurdle to clear after the New York Department of Financial Services said earlier this year that it does not approve of Fidelity National’s acquisition of Stewart’s New York title operation. But now, the companies have a much bigger problem on their hands: the Federal Trade Commission.
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  • American Mortgage Service Co. and Eustis Mortgage plan to merge

    Two companies have combined 110 years of lending experience
    In the latest in a string of mergers and acquisitions in the mortgage lending space, American Mortgage Service Co. and Eustis Mortgage announced recently that they plan to merge. According to the companies, they plan to relaunch as a combined company later in the year.
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  • Freedom Mortgage acquires J.G. Wentworth Home Lending

    Deal expands Freedom's reach to the mid-Atlantic region
    Freedom Mortgage has finalized an agreement to acquire J.G. Wentworth Home Lending, the company announced Thursday, in a deal that will boost its servicing portfolio by $6 billion. As part of the deal, it will add more than 570 J.G. Wentworth employees working in 35 offices across the country.
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  • Covius completes acquisition of massive chunk of Chronos Solutions' business

    Divides new offerings into new company divisions for origination and capital markets/servicing
    Covius Holdings, the technology solutions provider formerly known as LenderLive, just saw its business expand significantly with the completion of its acquisition of a sizable chunk of Chronos Solutions. On Monday, Covius announced that it had completed a deal first announced in June, and that it officially secured a capital investment from New Residential.
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  • CrossCountry Mortgage expands by acquiring bemortgage and PERL Mortgage

    Lending companies will operate under CrossCountry umbrella
    CrossCountry Mortgage, a mortgage lender based in Ohio, is expanding its operations, announcing this week that it has acquired both bemortgage and PERL Mortgage. bemortgage launched in 2017 as a division of Bridgeview Bank Group, but the company moved last year to become a division of CrossCountry Mortgage. CrossCountry acquired PERL Mortgage more recently, closing on the deal in March 2019.
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  • JLL's $2 billion acquisition of HFF to close on July 1

    Multifamily real estate giant coming soon
    The $2 billion deal that combines two of the biggest names in multifamily and commercial real estate is nearly complete, as Jones Lang LaSalle and HFF announced Friday that JLL’s acquisition of HFF is set to close on July 1.
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  • FirstBank exiting wholesale mortgage lending

    Selling correspondent channel to Rushmore, sells TPO channel to Renasant Bank
    In what’s become a trend, another lender announced this week that it is scaling back its mortgage business. In the last two months alone, HomeStreet Bank, Ditech, and Live Well Financial have all moved away from mortgage lending in one way or another. Now, FirstBank, one of Tennessee’s largest community banks, is selling off its wholesale mortgage lending operations.
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  • Growing real estate player Pretium buying Deephaven Mortgage from Värde Partners

    Set to acquire non-QM lender
    Pretium already owns one of the nation's largest single-family rental operators and buys non-performing loans from the GSEs by the truckload, and now, the company is set to expand its presence in the mortgage business even more. Pretium announced Tuesday that it is set to acquire Deephaven Mortgage, a mortgage company that specializes in non-Qualified Mortgages, from Värde Partners.
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  • HomeStreet Bank sells off more of its mortgage business to Homebridge

    Completes second phase of mortgage business sell-off
    HomeStreet Bank's move away from mortgages is nearing its completion, as the bank announced Monday that it has completed the second part of the sale of a sizable piece of its origination business to Homebridge Financial Services. According to the companies, the second part of the deal brings the total number of office locations acquired in the deal to 47.
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