Items Tagged with 'Lennar'

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  • Lennar to sell Rialto investment business to Stone Point Capital for $340 million

    Stone Point to purchase Rialto Investment and Asset Management business
    Homebuilder Lennar announced it has agreed to sell its Rialto Investment and Asset Management business to Stone Point Capital in a deal worth $340 million. The news of the sale shouldn't come as too much of a surprise. Rumors about Lennar offloading Rialto to Stone Point surfaced in early October.
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  • Lennar subsidiary Eagle Home Mortgage fined $13.2 million for FHA lending violations

    The False Claims Act ain’t dead yet
    It appears the False Claims Act ain’t dead yet. The Department of Justice announced Friday that it reached a $13.2 million settlement with Universal American Mortgage Company, the mortgage subsidiary of Lennar that does business as Eagle Home Mortgage, to resolve allegations that the lender violated the False Claims Act by falsely certifying that it complied with FHA lending standards.
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  • Wall Street worries lead to weakening housing stocks

    Analysts reduce price targets as fears of rising interest rates grow
    This week, fear of interest rate spikes contributed to a decrease in housing stocks after analysts lowered ratings and price targets for several companies in the housing industry, according to an article written by Jim Bounds for CNBC.
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  • WSJ: Lennar in talks to sell Rialto Capital to StonePoint Capital

    The largest homebuilder in the U.S. is looking to offload noncore assets
    Lennar is in advanced talks to sell its real-estate lending arm Rialto Capital to StonePoint Capital. According to the Wall Street Journal, the largest homebuilder in the U.S. is trying to shed weight in the face of headwinds dragging on the housing market’s performance.
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  • Opendoor raises $325 million, plans nationwide expansion

    Direct homebuyer plots expansion into 50 markets by 2020
    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.
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  • Notarize raises $20 million, with help from housing giants Lennar and Realogy

    Venture arm of National Association of Realtors also took part in funding round
    Notarize, a digital platform that allows for legal, online document notarization, announced this week that it raised $20 million in its Series B round of funding. The capital raise nearly doubles the amount of money the company has raised so far. But what’s more interesting than Notarize raising $20 million is where the money is coming from.
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  • Amazon pushes further into real estate with Lennar smart home deal

    Launches “Amazon Experience Centers”
    Over the past few months, Amazon has hinted at expansion into real estate in various ways. Well, consider Wednesday’s news another sign of Amazon’s encroachment into housing and real estate. Amazon announced Wednesday that it is partnering with Lennar, the nation’s largest homebuilder, to launch what it calls “Amazon Experience Centers,” which are basically showrooms for all of Amazon’s smart home products.
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  • Lennar names new CEO for first time in 21 years

    Stuart Miller promoted from CEO to executive chairman, Rick Beckwitt named CEO
    Lennar, which became the nation’s biggest homebuilder earlier this year when it bought fellow homebuilder CalAtlantic Group in a $9.3 billion deal, announced recently that it is making a series of executive changes. The changes, which consist of promoting several of the company’s leaders, mark the first significant shakeup of the company’s leadership in some time.
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  • Lennar partners with Blend to power its financing arm

    Will digitally streamline purchase process for Lennar customers
    Lennar, one of the largest homebuilders in the U.S., is now partnering with mortgage technology provider Blend, to power its financing arm. The new system will allow Lennar mortgages to close up to 10 days faster by cutting out unnecessary manual process.
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  • Lennar completes CalAtlantic merger

    Merger creates nation’s largest homebuilder
    Lennar has completed its previously announced merger with CalAtlantic, creating the nation’s largest homebuilder. Lennar will now own or control approximately 250,000 home sites and be actively selling homes in 1,300 residential communities in 21 states.
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