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Rocket Companies announces deal to acquire Redfin for $1.75 billion

Housing Wire

Today, Rocket Companies announced it has entered into an agreement to purchase digital real estate brokerage Redfin in an all-stock transaction valued at $1.75 Under the agreement, each Redfin share will convert to 0.7926 Rocket Class A shares, a 63% premium over Redfins 30-day Volume-Weighted Average Price (VWAp) as of March 7, 2025.

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loanDepot eyes purchase business in the South with new mortgage JV

Housing Wire

loanDepot has signed a new joint venture agreement with Smith Douglas Homes , a top-50 homebuilder with a solid book of business in the Southern states. Smith Douglas Homes sold 2,297 homes in 2023. loanDepot has a variety of partnerships with homebuilders across the country.

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

Housing Wire

Material contracts There may be numerous contracts containing provisions that may trigger liability or exposure upon the sale of a business. These issues are not a consideration when the M&A discussions begin, but it could significantly impact the final purchase price in order to address an unforeseen liability.

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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. APM bought assets that include about 25 branches from the Minnesota retail lender Lend Smart.

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loanDepot returns to profitability, announces new strategic plan 

Housing Wire

As an example of initiatives included in the new plan, the lender announced this week a joint venture agreement with Smith Douglas Homes , a top 50 homebuilder with a solid book of business in Southern states. Its pull-through gain-on-sale margin was 3.29% in Q3 2024, compared to 3.22% in Q2 2024. billion on Sept. billion on June 30.

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Homepoint exits correspondent following deal with Planet Home Lending

Housing Wire

Connecticut-based mortgage servicer and lender Planet Home Lending has entered into an agreement to acquire assets from Homepoint ‘s delegated correspondent channel for $2.5 However, the gain-on-sale margins in the correspondent channel were just 31 basis points last year, compared to 234 bps in the wholesale channel.

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