TheMReport — News and strategies for the evolving mortgage marketplace.
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Th e M Rep o RT | 11 mtech is led by Shawn Murphy, will remain on board and continue to provide the same level of quality products and service to its clients. No other terms of the transac- tion were announced. "Joining with Clayton and its parent, Radian, gives us the re- sources to further develop the tech- nology, infrastructure and vendor networks required for today's more competitive, compliance-focused environment," Murphy said. "Our entire management team is pleased to join the Clayton family and excited to be a part of its future growth." LoanDepot Files SEC Registration for Proposed IPO Offering The number of shares and price for loandepoT's ipo are pending. L oanDepot, LLC recently announced it officially filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for a proposed initial public offering (IPO). A press release from the com- pany noted that the IPO was filed on Form S-1 with the SEC relat- ing to its Class A common stock. A registration statement on Form S-1 relating to these securities was filed with the Commission but has not yet become effective. LoanDepot also noted that the number of shares to be offered and the price range for the pro- posed offering have not yet been determined. BMO Capital Markets is acting as co-manager for the proposed offering, the release stated. Morgan Stanley, Goldman Sachs & Co., Wells Fargo Securities, Barclays, and UBS Investment Bank are act- ing as joint book-running managers for the proposed offering. In connection with this of- fering, LoanDepot, Inc. will become the parent company of LoanDepot.com, LLC. LoanDepot was not immediate- ly available to provide a statement about the proposed IPO. In August, loanDepot announced it will now offer new home equity products, the first marketplace lender to offer consumers a varied selection of credit products through purchase and refinance home loans, unsecured personal loans, and now home equity loans on one conve- nient tech-enabled lending platform. "This is a substantial step for- ward for consumers and market- place lending after the financial crisis," said Anthony Hsieh, CEO and chairman of loanDepot, LLC. "It reaffirms our commitment of ushering in the next generation of lending that will empower borrowers and investors to con- nect through multiple products on our platform. Our vision is to deliver a diversified lending model sustainable in all market condi- tions. We look forward to leading the development of marketplace lending through the introduction of new products and services that provide credit solutions for bor- rowers with attractive returns for investors." In addition, the company also launched personal loans just two months prior to the home equity announcement, which grew $40 million in funding volume in the first two months. LoanDepot also intends to add about 1,000 employees to its 4,000+ employees, according to an an- nouncement earlier this year. Stewart Unveils Refined Brand to Support Strategic Growth Initiatives company will now operaTe under "sTewarT" and "sTewarT TiTle" To differenTiaTe iTs wide range of business offerings. S tewart Information Services Corp. recently announced the launch of a refined brand to support the company's strate- gic growth plans and efforts to communicate its focus on operating in the true spirit of partnership. "At Stewart, we believe lasting relationships drive long-term suc- cess. And to that end, we never stop working to build relation- ships with our customers," said Matt Morris, CEO of Stewart. "Our refined brand focuses on simplifying the way we com- municate about Stewart and the way we do business, and sets the stage to support us through our next phase of growth." According to the company, the refresh aligns its services under two key brands, Stewart and Stewart Title. All core title business lines will now be branded under Stewart Title. Services aligned under the Stewart Title brand include residential, commer- cial, and international through Stewart Title direct-issuing offices, as well as Stewart Title Agency Services supporting the organization's network of Stewart Trusted Providers. "Our refreshed, new look mirrors where we are taking our company and the services we provide to customers by aligning our core service offerings under the same brand umbrellas," said John Arcidiacono, chief market- ing officer for Stewart. "Our new brand is clean and concise, so our customers can easily understand who we are and how we can help them through the partner- ships we build. This is reflected in our new tagline, 'Real partners. Real possibilities.' and is our brand promise—central to how Stewart approaches business." As Stewart continues to diver- sify its offerings in the financial services space, the Stewart brand will be able to support this growth. Business units aligned under Stewart include Stewart Lender Services, Stewart Insurance and Risk Management (previously known as Stewart Specialty Insurance Services), and corporate headquarters. "our vision is to deliver a diversified lending model sustainable in all market conditions. We look forward to leading the development of marketplace lending through the introduction of new products and services that provide credit solutions for borrowers with attractive returns for investors." —Anthony Hseih, ceo and chairman of loandepot, llc