Fairway Independent Mortgage Corp. announced Wednesday it has acquired the assets of Hallmark Home Mortgage, a Fort Wayne, Indiana-based mortgage lender. As part of the transaction, Hallmark will become a new division of Fairway and will operate under a revised brand: Hallmark Home Mortgage, powered by Fairway. Financial terms of the deal were not disclosed. […]
Fairway Independent Mortgage buys assets of smaller firm Read More »
By acquiring Title365, Covius Services, whose product offerings including title and settlement services primarily on defaults, will be expanding its presence on the origination side, a company executive said. It complements Covius’ existing expertise in providing title services for defaults, Pete Pannes, chief business officer, said. “Second, there were significant technical integrations that we’ve been
Title365 buy allows Covius to expand origination loan focus Read More »
Five U.S. Senators have called into question the lack of federal antitrust oversight of Rocket Companies’ proposed acquisitions of Redfin and servicing powerhouse Mr. Cooper. Lawmakers, including Sens. Elizabeth Warren, D-Mass, and Cory Booker, D-N.J.,sent a letter to the Justice Department’s Antitrust Division and the Federal Trade Commission demanding to know why the agencies did
Senators scrutinize Rocket’s Redfin, Mr. Cooper deals Read More »
A Redfin shareholder vote planned for today, June 4, will proceed as planned, according to legal documentation published by a Washington federal court Tuesday. The vote is one of the final steps for closing Rocket Companies’ $1.75 billion acquisition of the real estate brokerage. In early May, plaintiff Jason Morano, a Redfin shareholder, sued the
Roadblock for Redfin shareholder vote on Rocket merger removed Read More »
Rocket Cos. is offering a combined $4 billion in senior notes to pay some of Mr. Cooper’s ten-figure debt in anticipation of the major acquisition. The Detroit-based fintech said Tuesday it wants to sell $2 billion of senior notes due 2030 and an additional $2 billion of senior notes due 2033, unconditionally guaranteed by Rocket
Rocket plans to raise $4B to pay off Mr. Cooper debt Read More »
Enjoy complimentary access to top ideas and insights — selected by our editors. Market volatility under a second Trump administration was no match for Rocket Companies’ appetite for mergers in the first quarter of the year, as the origination giant inked deals to acquire real estate brokerage Redfin and mega servicer Mr. Cooper. Now comes
Rocket’s deals for Redfin, Mr. Cooper bring new growth and challenges Read More »
Looking to expand its operation on the East Coast, Next Level Education, a provider of continuing education for the mortgage industry, has acquired Summit Mortgage Training. Terms of the deal were not disclosed. Summit is headquartered in Hanover, New Jersey and in addition to its home state, operates in Pennsylvania and Florida. Andrea Gagliardi, who
Next Level Education acquires Summit Mortgage Training Read More »
Publicly traded lender Guild Mortgage’s parent company, Bayview Asset Management, and a servicing-related affiliate are in talks about a potential deal. Bayview said in a filing that in conjunction with the affiliate it is “engaging in friendly preliminary discussions” with Guild “regarding a broader commercial relationship and potential corporate transaction. One possible outcome is “the
Guild Mortgage, Bayview Asset explore servicing M&A Read More »
Rocket Companies and Redfin are pushing back against a lawsuit that could disrupt the closing of the mortgage giant’s $1.75 billion acquisition of the real estate brokerage. Plaintiff Jason Morano, a Redfin shareholder, sued the brokerage and Rocket in early May, alleging that Redfin’s disclosures to the Securities and Exchange Commission regarding the deal omitted
Rocket, Redfin aim to block stockholder suit proceedings Read More »
Rocket Mortgage is buying Mr. Cooper in what could be a transformative deal for the industry, so we looked at what it might mean for mortgage production based on select Home Mortgage Disclosure Act datasets. An analysis of available 2024 HMDA data through iEmergent shows that while Mr. Cooper’s servicing strength could eventually help Rocket
Rocket, Mr. Cooper merger: HMDA data reveals market impact Read More »