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

Housing Wire

Regardless of whether you are on the buy or sell side for a mortgage lender and/or servicer in a M&A transaction, it is critical to focus on post-closing matters too. 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.

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CoStar closes $1.6B purchase of Matterport

Housing Wire

Matterports cutting-edge 3D capture and AI-powered property insights have already transformed how residential and commercial properties are marketed and experienced, Andy Florance, the founder and CEO of CoStar Group , said in a statement. CoStar paid $1.6 billion for the acquisition.

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Wells Fargo sells most of its commercial mortgage servicing to Trimont

Housing Wire

Wells Fargo has agreed to sell most of its commercial mortgage servicing portfolio to Atlanta-based Trimont. The deal is expected to make Trimont the largest servicer of multifamily and commercial loans in the U.S. The transaction includes only Wells Fargo’s non-agency, third-party commercial mortgage servicing (CMS) business.

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No, homeowner delinquency rates aren’t elevated

Housing Wire

These loans pertain to multifamily mortgages, which are used for commercial properties with five or more units, such as apartment buildings. As always, you have to examine the data closely before concluding anything on the internet. However, the data references Freddie Mac ‘s Serious Delinquency levels on multifamily loans.

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Chase Home Lending increases its closing guarantee

Housing Wire

Chase Home Lending , the consumer and commercial banking arm of JPMorgan Chase & Co. , has raised its closing guarantee from $5,000 to $20,000 until July 27, 2024, the bank announced on Thursday. This grant can be used to discount underwriting fees paid at closing, or to reduce the interest rate and down payment.

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MBA promotes Jamie Woodwell to lead its commercial, multifamily public policy efforts

Housing Wire

The Mortgage Bankers Association (MBA) on Monday appointed Jamie Woodwell as its senior vice president of commercial/multifamily policy and strategic industry engagement. MBA leadership praised Woodwell for his market expertise and detailed economic insights in the commercial and multifamily real estate sectors.

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Rithm Capital closes deal with Great Ajax

Housing Wire

Rithm Capital , the parent company of multichannel lender Newrez , announced on Tuesday that it has closed a transaction with Great Ajax Corp. Meanwhile, Great Ajax is transitioning from a legacy residential loan platform to a vehicle focused on commercial real estate. which resulted in the purchase of 2.9

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