Unison, one of the nation’s leading providers of home equity investments (HEIs), is facing a lawsuit from the National Association of Consumer Advocates (NACA), alleging that Unison deceptively markets its product as a “no-debt” home equity alternative. According to the complaint, Unison’s product functions similarly to a mortgage as homeowners receive an upfront cash advance […]
PennyMac Financial Services Inc. announced Wednesday afternoon that it’s acquiring Cenlar Capital Corp., the country’s second-largest mortgage subservicer. The all-cash transaction includes an upfront purchase price of $172.5 million and up to $85 million of contingent consideration payable over three years. It’s the first mergers-and-acquisitions (M&A) deal in the history of Pennymac. Cenlar’s subservicing business
Exclusive: Pennymac to acquire subservicing giant Cenlar for $257.5M Read More »
The late-January snowstorm that blanketed large portions of the U.S. is now clearly visible in national housing data. After showing only mild effects the prior week, housing activity pulled back across several key metrics, led by new listings and pending sales. Even so, the broader market picture remains intact. Inventory growth is slowing, the share
Housing market weathers storm disruption, sets up for spring Read More »