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M&A

Senators scrutinize Rocket’s Redfin, Mr. Cooper deals

Industry News, M&A, Politics and policy, Rocket Mortgage /

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 »

Roadblock for Redfin shareholder vote on Rocket merger removed

Industry News, Law and legal issues, M&A, Redfin, Rocket Mortgage /

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

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Rocket plans to raise $4B to pay off Mr. Cooper debt

Earnings, Industry News, M&A, Rocket Mortgage /

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 »

Rocket’s deals for Redfin, Mr. Cooper bring new growth and challenges

Industry News, M&A, Rocket Mortgage /

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 »

Next Level Education acquires Summit Mortgage Training

M&A, Originations, Regulation and compliance, Training /

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 »

Guild Mortgage, Bayview Asset explore servicing M&A

Capital markets, M&A, Originations, Servicing /

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, Redfin aim to block stockholder suit proceedings

Industry News, Law and legal issues, M&A, Rocket Mortgage /

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

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Rocket, Mr. Cooper merger: HMDA data reveals market impact

HMDA, M&A, Originations, Rocket Mortgage, Servicing /

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 »

Rocktop buys Incenter Capital, expecting robust MSR market

M&A, MSR, Secondary markets, Servicing /

Rocktop Technologies’ purchase of Incenter Capital Advisors is both complementary to its current capabilities as well as a way for the company to differentiate itself. Terms of the deal, which was completed on May 15, were not disclosed. For now, Incenter Capital Advisors will retain its current branding. “We are very tech heavy, tech enabled,

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Dark Matter confirms layoffs as it right-sizes

M&A, Mortgage technology, Originations /

Dark Matter executives confirmed the company has undergone a reduction in force, as the company sets its next phase in motion. As a standalone company, Dark Matter has only existed for about 20 months. On Sept. 15, 2023, what had been the Black Knight origination technology business, primarily its Empower loan origination system, was sold

Dark Matter confirms layoffs as it right-sizes Read More »

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