Mon.Dec 21, 2020

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Thoma Bravo acquires RealPage for $10.2 billion

Housing Wire

Private equity investment firm Thoma Bravo will acquire proptech company RealPage in a transaction valued at approximately $10.2 billion, including net debt, according to a release. The transaction, which was unanimously approved by the RealPage board of directors, is expected to close during the second quarter of 2021 and will make RealPage a privately held company.

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Former Cincinnati Bengal Mike Doss Makes a Big Play With The Robert Weiler Company

The Robert Weiler Company

When you spend your whole life on the football field, it is hard to imagine yourself in an entirely different career. For Mike Doss, after he retired from the NFL, his future path was unclear. What role would be the best fit for his skill set? Mike decided that a job in sales was his best option; then Bob and Skip Weiler came along. Mike met Bob and Skip in the Fall of 2019, and there was an immediate mutual interest.

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Qualia hits unicorn status, acquires Adeptive Software

Housing Wire

Digital closings firm Qualia announced Monday that it had reached unicorn status with a fresh infusion of venture capital. And for good measure, it also announced that it had acquired a rival in the title and escrow software space. Qualia said on Monday that it was now valued at more than $1 billion following a $65 million Series D funding round, according to reports.

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Mortgage forbearance rate ticks up to 5.49%

Housing Wire

The U.S. forbearance rate measuring the share of mortgages with suspended payments increased for the second time in nearly six months from 5.48% to 5.49%, according to the Mortgage Bankers Association. According to Mike Fratantoni, MBA’s senior vice president and chief economist, more borrowers are seeking relief as restrictions on businesses and rising COVID-19 cases are triggering layoffs and slowing economic activity.

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Servicers likely to keep foreclosures low in 2021

Housing Wire

After nearly 40 million people became unemployed by May because of COVID-19, the housing industry, borrowers and the Federal Reserve quickly realized that without ample aid, things could quickly turn sour. However, servicers leveraged the lessons learned from the last recession to help avoid a catastrophe, synergistic technology and a blanket of forbearance large enough to cover the nation kept mortgage servicers busy, but prepared.

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ALTA shakes up leadership team with staff promotions

Housing Wire

Headed into 2021, the American Land Title Association announced the promotion of six of its staff members to new leadership positions. “I am incredibly proud of this team and thrilled to have the opportunity to work with such a talented group,” ALTA CEO Diane Tomb said. “Each of them has demonstrated their value while at ALTA, especially during the pandemic when we needed their strengths the most.

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FHA extends foreclosure and forbearance policies to 2021

Housing Wire

Ten days ahead of the latest expiration date, the Department of Housing and Urban Development announced that the Federal Housing Administration is providing a two-month extension of its foreclosure and eviction moratorium, and initial forbearance requests through Feb. 28, 2021. This now marks the fourth eviction moratoria extension the FHA has enacted since the COVID-19 pandemic began.

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How the latest stimulus impacts renters and homeowners

Housing Wire

A second round of stimulus checks will be sent directly to citizens beginning next week, according to Treasury Secretary Steven Mnuchin. The $900 billion stimulus package negotiated by Congress over the weekend will include $600 individual stimulus checks for those making under $75,000, $300 a week of extra unemployment benefits, federal food and rent relief, and money for schools and small businesses through the Paycheck Protection Program.

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