In the Money

M&A, JVs, MBS and capital investments. Deal flow, deal flow, deal flow.

ARTICLES

  • Wells Fargo extends deadline to take part in $142 million fake account settlement

    Deadline was February 3, new deadline is July 7
    It’s been a busy day in the settlement department for Wells Fargo. Early Friday, the bank was fined $1 billion by the CFPB and the OCC for mortgage lending and auto insurance abuses. And late Friday afternoon, the bank notified customers that it is extending the deadline to participate in the bank’s $142 million fake account class action settlement.
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  • RealPage continues growing, set to acquire ClickPay for $218 million

    Acquisition will be company’s fifth since 2017
    RealPage, a provider of software and data analytics to the real estate industry, went on quite the run of acquisitions last year, acquiring four different companies throughout the year. As it turns out, RealPage isn’t done yet. The company announced Friday that it is acquiring ClickPay, an electronic payment platform servicing 2.3 million units across the multifamily, HOA, condominium and co-op segments of real estate, in a $218 million deal.
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  • Point secures $150 million commitment to buy equity from homeowners

    Atalaya Capital Management agrees to buy $150 million in shared equity investments
    Point, a financial technology platform that offers homeowners the opportunity take equity out of their home without taking on new debt, is set to grow thanks to a $150 million commitment from Atalaya Capital Management, a private investment firm. Under the agreement, Atalaya and Point entered into a forward flow purchase program wherein the investment firm is committing to buy as much as $150 million of Point’s shared equity instruments.
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  • Digital lending platform LenderClose secures new investment to power growth

    Iowa-based company will hire 25 new employees
    LenderClose, a digital lending platform for credit unions and community banks, is ready to plot the next stage of its growth thanks to a new investment from Next Level Ventures, a venture capital firm that invests in growing companies based in Iowa. The company did not make the specific financial details available, but the company said that it plans to use the money to hire 25 new employees.
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  • LenderLive announces acquisition of reQuire Holdings

    Acquisition diversifies LenderLive's client base and expands technology-enabled product offerings
    Mortgage services provider LenderLive announced Monday that it has acquired reQuire Holdings, a group of technology-enabled companies that provide compliance, quality assurance and valuation solutions for both the residential and commercial real estate markets. reQuire Holdings’ companies include reQuire Real Estate Solutions, Service 1st, CRES and Covius.
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  • Gamechanger: Zillow to begin buying and selling houses

    Follows lead of Redfin and other direct homebuyers
    Nearly one year ago, Zillow shook up the real estate industry when it announced that it was getting into the home selling business by launching “Zillow Instant Offers.” As it turns out, that was just the beginning. Zillow announced Thursday that it will begin buying homes and selling homes directly to and from homeowners.
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  • New Penn Financial acquiring Envoy Mortgage’s correspondent lending division

    New Penn continues growth
    New Penn Financial’s growth in the wake of its parent company being acquired by New Residential Investment Corp. is set to continue, as the lender announced Monday that it is acquiring the correspondent lending division of Envoy Mortgage. Late last year, New Residential announced that it planned to acquire Shellpoint Partners, which owns New Penn, in a $190 million deal.
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  • HomeUnion launches crowdfunding platform for single-family rentals

    Individual investors can now buy into “fix-and-flip fund”
    HomeUnion, an online residential real estate investment firm, is increasing its presence in the single-family rental market. Back in 2015, HomeUnion began lending to single-family rental investors. Now, HomeUnion is launching a new program that will make the company itself an investor in single-family rentals, but the company isn’t using its own money.
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  • Silver Lake acquiring $500 million stake in Credit Karma

    Acquisition values Credit Karma at $4 billion
    Silver Lake, a private equity firm that led a $500 million round of funding online lender SoFi last year, is increasing its interest in the personal finance space by acquiring a “significant minority stake” in Credit Karma, the personal finance company. Specifically, Silver Lake plans to invest $500 million in Credit Karma in a deal that values the company at $4 billion.
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