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Rocket Companies announces deal to acquire Redfin for $1.75 billion

Housing Wire

The transaction will merge Redfins home search platform , which is comprised of 50 million monthly visitors, 1 million active purchase and rental listings and its network of over 2,200 agents, with Rockets mortgage services, with the goal of delivering “a more seamless experience from search to close, to servicing and future transactions.”

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. Drive purchase mortgage growth: The transaction will generate significant revenue synergies across search, real estate brokerage, mortgage origination, title and servicing.

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

Housing Wire

It seems that everyone in mortgage and real estate has an opinion about Rocket Mortgage ‘s pending $1.75 After the deal was announced, CEO Varun Krishna told investors that he expects a lift in purchase mortgage growth after the deal closes. Essentially, it’s the holy grail of mortgage and real estate tech.

Mortgage 271
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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 434
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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. In the mortgage space, TD Bank was a top-35 U.S. billion in loans, down 25% year over year, according to Inside Mortgage Finance estimates.

Investing 447
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loanDepot concludes $500M debt extension

Housing Wire

A loanDepot subsidiary, LD Holdings Group LLC, will exchange its outstanding senior notes due in 2025, paying 6.5%, for senior secured notes due in 2027, paying 8.75%, according to an 8-K filing sent Thursday to the Securities and Exchange Commission (SEC). 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.

Investing 445