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Rocket Companies announces deal to acquire Redfin for $1.75 billion

Housing Wire

” Rocket and Redfins approaches to lending and brokerage service have always been two halves of one vision to make the whole home-buying process magical, said Glenn Kelman , CEO of Redfin. The deal is projected to boost Rockets adjusted earnings per share by late 2026.

Brokerage 482
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Rocket to Purchase Redfin for $1.75B

Appraisal Buzz

Rocket and Redfins approaches to lending and brokerage service have always been two halves of one vision to make the whole home-buying process magical, said Kelman. In 2024, Rocket saw an 8% year-over-year increase in purchase market share and aims to further accelerate growth through this acquisition.

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First Financial Bank to invest $700M by 2028 in affordable mortgages

Housing Wire

billion in the next five years for lending and investments to low- and moderate-income (LMI) clients and census tracts, with 30% of the total tied to mortgage lending. First Financial Bank’s plan also includes investments in small-business lending and donations to organizations that create and preserve affordable housing.

Investing 433
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TD Bank launches three-year plan to invest $10B in affordable homeownership

Housing Wire

New Jersey-based TD Bank has decided to invest $10 billion in affordable homeownership initiatives by 2027, including providing loans and liquidity to the residential lending market. New York, Miami and Philadelphia markets. The bank will create a SPCP for minority business, women-owned or veteran-owned enterprises.

Investing 445
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loanDepot concludes $500M debt extension

Housing Wire

million in senior notes due in the fourth quarter of 2025, resulting in new debt with a higher interest rate and a shorter maturity period than usually seen in the market for similar companies. California-based loanDepot has concluded the transaction to extend $497.7

Investing 448
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Redwood Trust to close $85M in debt offering

Housing Wire

The company said the proceeds of the debt offering are expected to fund, among other things, the firm’s residential lending business, the acquisition of mortgage-backed securities (MBS), and strategic acquisitions and investments. The notes, which had an investment grade rating of BBB from Egan-Jones Ratings Co. ,

Investing 441
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Rocket is acquiring Redfin’s huge flow of purchase leads. Can the mortgage giant convert them?

Housing Wire

“ It won’t do much now because their market shares are relatively small, but in a couple years they’re going to have a wall of scalps,” said one attendee. Such a scenario would see Rocket, which currently lags behind arch-rival United Wholesale Mortgage , capture about 16% of the purchase market.

Mortgage 251