In the Money

ARTICLES

  • 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.
    Read More
  • 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.
    Read More
  • 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.
    Read More
  • 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.
    Read More
  • 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.
    Read More
  • 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.
    Read More
  • PwC ordered to pay $625M to FDIC over Taylor, Bean & Whitaker/Colonial Bank audits

    Federal judge awards damages over auditor’s “negligent” conduct
    A federal judge this week ordered PricewaterhouseCoopers to pay more than $625 million to the Federal Deposit Insurance Corp. due to the auditor’s failure to discover the house of cards that was the mortgage business of Taylor, Bean & Whitaker. Click the headline for the full story.
    Read More
  • Stearns Lending to buy piece of Certainty Home Loans

    Certainty will retain name and leadership
    Stearns Lending announced recently it will acquire a piece of Certainty Home Loans. The independent mortgage bank has entered into an agreement to acquire an equity interest in Certainty, an independent mortgage lender based in Plano, Texas, that originated $1.4 billion in residential loans last year.
    Read More