Mortgage Professionals Should be Optimistic About the Future

TheMReport — News and strategies for the evolving mortgage marketplace.

Issue link:

Contents of this Issue


Page 6 of 67

Th e M Rep o RT | 5 on the web • Credit repair companies can target dis- tressed homeowners or those who have lost their properties and may be in need of their services (forwarding address is included if the homeowner has moved). • Insurance companies can sort through the data to find potential new clients, including those who are nearing their insurance renewal date. • Real estate investors can locate potential clients by using the data to identify dis- tressed property owners who may be motivated to sell, or property owners who match their investing strategy. "As the housing recovery takes hold, and the distressed share of the market decreases, entrepreneurs are looking for new opportunities to contact homeowners who need a problem solved or a service provided," said Brian Mushaney, EVP of data solutions at RealtyTrac. "We believe this expanded platform helps further our mission of providing more data to more people, and we're excited to see how cus- tomers creatively utilize this data." Altisource Acquires Real Estate Marketplace With and this latest acquisition, the company continues to groW its online footprint. A ltisource Portfolio Solutions has added to its online offerings with the recent acquisition of self-di- rected real estate marketplace, the company announced this week. The acquisition adds an innovative, flat-fee multiple listings service (MLS) to Altisource's offerings, enabling the compa- ny to serve the quickly growing commu- nity of limited service home sellers. Last year, the limited service and self-directed real estate category accounted for nearly 30 percent of all home sales. One of the oldest and largest market- places for self-directed homebuyers and sellers, joins real estate auction marketplace as a platform for Altisource to continue to grow its online presence. " is one of the leading self- directed online real estate marketplaces, and this acquisition fits perfectly with the future of our company," said Altisource CEO William Shepro. "It allows us to combine the expertise we offer the online home auction industry through Hubzu with an innovative residential sales model to create a unique, best-in-class real estate e-commerce engine. "As the real estate market continues to evolve, this acquisition puts us in a strong position to work with real estate agents, homebuyers and home sellers to deliver value through the fast-growing limited- service home sales market," Shepro added. According to the announcement, Altisource purchased the company for $20 million at closing, with up to an additional $7 million in potential consideration based on revenue earned in the next two years. As part of the acquisition,'s employees and management have joined Altisource, including CEO Steve Udelson. "Altisource has brought incredible tech- nology innovation to real estate. We are very excited to join such an exceptional organization with the same focus on creat- ing efficiencies in real estate that benefits all parties involved, including agents and consumers," Udelson said. "The team is committed to creating more market impact, and we are confident that being part of Altisource will amplify our ability to drive change and grow our business." loanDepot to Acquire Mortgage Master in Major Deal merging the tWo brands Will result in 130 retail lending branches, four Web product centers, and 3,700 full-time associates. l oanDepot, one of the nation's largest nonbank mortgage lenders, is set to acquire super-regional mortgage firm Mortgage Master in a deal expected to close early next year, the companies announced. According to the announcement, the combination of the two brands will result in 130 retail lending branches, four Web product centers, and 3,700 full-time associates working under one company nationwide. Together, the companies' retail loan funding volume totaled $1.75 billion in October, with nearly $70 million in top-line revenue. The combined company will maintain and operate the, imortgage, and Mortgage Master consumer brands. "By welcoming our colleagues at Mortgage Master to loanDepot, we are creating a very powerful and exciting op- portunity for the organization, consumers, and our employees," said Anthony Hsieh,

Articles in this issue

Links on this page

Archives of this issue

view archives of TheMReport - Mortgage Professionals Should be Optimistic About the Future