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Investor accuses Rocket’s Dan Gilbert of insider trading

Housing Wire

A Rocket Companies ’ investor filed a stockholder derivative complaint on Monday that accuses the company’s chairman of using non-public information to sell stocks and avoid material losses. The lawsuit, first reported by Reuters, was filed in the Delaware Chancery Court by an investor, Christopher Vargoshe. He sold 20.2

Investors 378
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Fix-and-flip lender Kiavi lays off 7% of employees

Housing Wire

Non-QM lender Kiavi , which specializes in fix-and-flip and investor loans, has laid off 39 employees, sources told HousingWire on Thursday. Because we are in the hard money space, we don’t have a lot of investors willing to buy our assets because of the rate hikes, is what our CEO told us.”.

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Opinion: 5 policy changes that can improve housing affordability

Housing Wire

Decades ago, zoning laws were used to legally segregate local communities based on race. Smaller lot sizes mean more units can be built, and legalizing accessory dwelling units (ADUs) makes more efficient use of already-existing homes. The cost of labor has skyrocketed in recent years, driven by shortages in the construction workforce.

Law 377
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Crypto and real estate awkwardly mingle in Miami

Housing Wire

There are traffic cones and foreboding construction signs outside the Miami Beach Convention Center and the doors are locked. This is like what the internet was in 1993, 1994,” said Suresh Nichani, managing director of I-Chain Capital , an investor in blockchain projects. It’s actually, literally, a bit difficult to access.

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Biden tax credit to rehab homes is finally unveiled

Housing Wire

HUD has also taken steps to craft a rule on the legal duty to Affirmatively Further Fair Housing. Investors who acquire and renovate older homes could claim the credit on their federal tax returns, as long as the home is sold to and occupied by an eligible buyer. How hybrid title and valuations help increase lending efficiency.

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Knox Financial announces $10 million in Series A funding

Housing Wire

Other investors included Greycroft, Pillar VC, 2LVC, and Gaingels. Knox automates and oversees a property’s finances and taxes, insurance, leasing and legal, tenant and property care, banking, and bill pay. That’s $14.7 million of total funding to-date for Knox.

Landlords 371
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Lawsuit pits PLS industry against CFPB

Housing Wire

District Court judge in Wilmington, Delaware, put the structured-finance industry on high alert because of the serious legal and financial implications it poses for the private-label securities (PLS) market. It completely upends the construct of securitization.”. A ruling late last year by a U.S.

Legal 377