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Navigating movement in the mortgage industry series: Due diligence in mergers and acquisitions

Housing Wire

It is easy to become blinded by the end goal of increasing loan volume and quality origination talent. Branding/Intellectual property: Trade names, DBAs, and domain names Trade names, DBAs, trademarks, fictitious business names or assumed business names are what the world knows the business as.

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Navigating movement in the mortgage industry series: Post-closing matters are important too

Housing Wire

Below are some of the items that wont necessarily be on your radar when you initially explore an acquisition or sale, but may need to be dealt with on a post-closing basis. To backstop some of those indemnification obligations, there will likely be an indemnification escrow agreement.

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Flyhomes acquires Home Sale Assured

Housing Wire

Proptech firm Flyhomes has entered into an agreement to purchase Innovative Holdings, LLC’s “buy before you sell” platform Home Sale Assured. In the acquisition, Flyhomes will be acquiring the Home Sale Assured brand and Meadow will join Flyhomes as VP of partnerships. The terms of the deal were not disclosed.

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Flagstar Bancorp cuts 20% of its mortgage staff

Housing Wire

“Gain on sale revenue was under significant pressure throughout the quarter as the velocity of the increase in mortgage rates rose at the fastest rate this century,” Alessandro DiNello, president and chief executive officer of Flagstar Bancorp, said in a statement. Flagstar’s mortgage division will also preserve the brand.

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Expansion-hungry APM acquires over two dozen Lend Smart branches

Housing Wire

California-based lender American Pacific Mortgage (APM) announced an asset purchase agreement with retail lender Lend Smart Mortgage on Thursday in its latest move to drum up production across the country. Lend Smart will retain its name and brand and have access to APM’s mortgage products. million in loan volume last year. “We

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Home equity products light up a dark housing market

Housing Wire

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to a review of bond-rating and industry reports.

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Rocket goes local: Testing the waters or shifting its strategy? 

Housing Wire

The lender made focused efforts to target the purchase market in 2021 and set up dedicated teams to cultivate relationships with real estate agents. What is clear here is that their long-held view that when rates went up, they could simply change their focus to purchase mortgages is not holding up.