Boston-based Hometap has closed a $300 million securitization of home equity investment (HEI) loans originated by the company, marking its fifth transaction in the space. The deal, closed on Aug. 29, included a $231 million Class A tranche rated at BBB(sf) and a $12 million Class B tranche rated at BBB(low)(sf) by Morningstar DBRS. “Through […]
Hometap closes $300M securitization of home equity investments Read More »
Rocket Companies has extended the deadline for investors to exchange debt issued by a Mr. Cooper Group subsidiary for the lender’s own paper — a step tied to its $9.4 billion acquisition of the competitor. The deadline moved from Sept. 2 to Sept. 30, still leaving enough time for the deal to close in the
Rocket pushes back debt exchange deadline amid Mr. Cooper deal Read More »
As the nationwide housing inventory and affordability crisis persists, a trio of experts sit down with HousingWire to detail proposed solutions. The solve? It’s multi-faceted and it comes down to fixing supply issues, changing zoning and updating regulation. Kent Colton, president of the Colton Housing Group and former CEO of the National Association of Home
Experts offer multi-faceted solutions to the housing supply shortage Read More »
The Local Initiatives Support Corp. (LISC) has appointed Valerie White to lead its national housing team — expanding her role beyond her current position as senior executive director of LISC New York. White will oversee the organization’s national housing investments — which total $30.4 billion to date — with a focus on expanding access to
LISC appoints Valerie White to lead national housing strategy Read More »
Boston-based Hometap announced at the end of July that it has deployed more than $2 billion to 20,000-plus homeowners through its home equity investment (HEI) platform. The milestone comes less than 18 months after Hometap achieved $1 billion in home equity investments — a reflection of rising demand for alternative financing solutions. “This milestone reflects
Hometap says it’s only ‘scratched the surface’ with home equity investments Read More »
Real estate investors are turning their gaze skyward in preparation to take part in upcoming needs of the space exploration and data sector. This week, a CNBC report pointed to global real estate firm Hines and its recent acquisition of the Titusville Logistics Center — a nearly 250,000-square-foot industrial facility on Florida’s Space Coast. The
Real estate investors eye space economy as the new frontier Read More »
Silicon Valley Bank (SVB), a division of First Citizens Bank, and lending partner Setpoint announced on Wednesday that they’re providing a $200 million warehouse facility to Austin-based mortgage tech firm UpEquity. The funding is expected to support $1 billion in originations over the next two years, helping homebuyers purchase new homes before selling their current
UpEquity gets warehouse facility from Silicon Valley Bank, Setpoint Read More »
Opendoor has agreed to pay $39 million to settle a lawsuit that alleges the company misled investors about the reliability of its pricing technology, according to court documents filed Friday. The proposed settlement — filed in federal court in Arizona and first reported by Reuters — must still be approved by U.S. District Court Judge
Opendoor will pay $39M to settle pricing algorithm lawsuit Read More »
Legacy Group Capital on Thursday announced its first institutional capital partnership with LibreMax Capital LLC, an $11.8 billion asset management firm that specializes in securitized products and asset-backed finance. The deal involves an 18-month revolving period during which principal payoffs can be reinvested to originate new loans, creating a projected $400 million in additional funding
Legacy Group Capital secures $180M from LibreMax Capital Read More »
A prominent Dallas-based home-flipping franchisee of HomeVestors of America — known for its “We Buy Ugly Houses” ads — is being accused of operating a Ponzi scheme that defrauded investors out of tens of millions of dollars. According to lawsuits and ProPublica interviews with alleged victims, Charles “Chas” Carrier, the owner of C&C Residential Properties,
HomeVestors franchisee accused of running Ponzi scheme Read More »