While real estate agents chase leads and close deals on houses, there’s another level of deal-making that takes place within the real estate industry: mergers, acquisitions, integrations and partnerships.
We’ll be recapping every week’s noteworthy deals that didn’t make it into print (and some that did) for your perusal.
This week’s deals
Require Holdings, LLC, has completed its acquisition of Deeds on Demand. Deeds on Demand is an Internet-based deed and real estate document service designed to provide fast, accurate and integrated document preparation services. Deeds on Demand’s services will be merged with reQuire Real Estate Solutions, LLC, a wholly-owned subsidiary of Require Holdings, that services the title insurance industry. “We remain focused on being a preferred provider of diversified tech-enabled real estate transaction services to the industry,” said Require Holdings CEO, Al Will, in a statement. “We intend to continue this diversification through both organic product development, and additional acquisitions to better serve lenders and settlement agents.”
Altisource Portfolio Solutions S.A. (“Altisource”), a provider of real estate, mortgage and technology services, launched noteXchange, a proprietary mortgage trading platform that can help deliver greater efficiency, security and other advantages for mortgage bankers and loan investors. This secondary market trading platform brings buyers and sellers together in a centralized exchange that enables better communications, shorter sales cycles and automated processes. “We worked closely with various buyers and sellers during the development process to create a product that would make the loan trading process more simple, transparent and secure,” said Bryan Binder, co-lead, Altisource Origination Solutions and chief executive officer, Lenders One, in a statement.
The Weichert Companies acquired New Jersey-based Virtual Endeavors, LLC, a title processing, settlement services and closing management company, and Synergy Title Agency, LLC. These acquisitions represent important investments in the company’s title production and settlement services businesses and will allow Weichert to better serve clients across every business channel. As part of these acquisitions, Aubri Holler, who owned Virtual Endeavors and Synergy Title Agency, will assume the role of president, settlement services and will function as the senior leader of Weichert’s settlement services businesses.
LoanDepot unveiled an end-to-end digital lending platform that came to life after 18 months of work and an $80 million investment. There will be a physical space to match mello’s digital footprint: loanDepot also committed to opening a 65,000 square foot mello tech campus in Irvine, California, where the company’s 400-plus tech team will work. “It’s still very early within our industry. The digital disruption that changed the consumer experience in online books, home entertainment and consumer goods is just now impacting financial services,” said CEO Anthony Hsieh in a statement. “Similar to category leaders in those industries, we can’t predict what opportunities will develop within financial services.”
Mortgage Connect LP, a national closing and title settlement service provider for the nation’s largest financial institutions, investors and servicers, and M&G Realty Enterprises, LLC, a real estate services investment company, announce that through its subsidiary, MCMG Holdings, LLC, they have acquired Urban Lending Solutions Appraisals (ULSA). ULSA, a Colorado based nationwide appraisal management company, offers innovative, customizable valuation solutions to mid and large sized lenders and servicers. The company, which will transition to the name Valuation Connect, will operate as a subsidiary of Mortgage Connect.”ULSA is a natural fit to our best-in-class service approach and shares our vision to innovate the mortgage transaction process and enhance the client experience,” said Jeff Coury, CEO of Mortgage Connect in a statement.
Williams Trew expanded their offices to include the newest location at 405 FM 1187 South, Suite 400 in Aledo, Texas. The location is scheduled to open summer 2017. The 2,500 square foot office will offer a highly visible location and the latest in technology. It is a place where associates and clients may meet to discuss residential real estate needs. “We are assisting clients with one of the most-expensive and important transactions of their lifetime,” said Williams Trew Market Area Manager Elizabeth McCoy in a statement. “It is important that we utilize all of the resources we have at our disposal so we can provide the absolute best experience for our clients.”
Altavera Mortgage Services (Altavera), a Computershare company and leading provider of outsourced residential mortgage origination services, has received residential mortgage licensing approval in ten new states, bringing its total number of state licenses to 36. Altavera’s origination services are newly available in Arkansas, Connecticut, Illinois, Iowa, Kansas, Minnesota, Mississippi, Oklahoma, South Carolina and the District of Columbia.
LendingHome launched a mortgage tool that provides tips and feedback to borrowers and a milestone timeline so they can track the progress of their loans, as well as the ability to lock in an interest rate and share their loan status with a real estate agent. “The ability to pull that agent into the fold gives that agent access to see exactly where the transaction stands,” said LendingHome CEO Matt Humphrey.
Low-fee Colorado brokerage Trelora announced “Trelora Connect,” which allows prospective buyers to communicate directly with its seller clients through a chat feature on its website. “Before Trelora Connect, [homebuyers] and sellers didn’t have very many options — and they always had to go through an agent if they had questions, no matter how big or small,” said Trelora CEO Joshua Hunt in a statement. “Trelora Connect provides an ease of communication that most agents never wanted to admit was possible.”
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