REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
PRnewswire | May 25, 2023
Roc Capital Holdings LLC ("Roc360"), a vertically integrated platform for residential real estate investors and a leading originator of business-purpose loans nationwide, today announced it has purchased the origination assets of Civic Financial Services ("CIVIC"), a subsidiary of Pacific Western Bank ("PacWest Bancorp"; Nasdaq: PACW).
Under the terms of the transaction, CIVIC, one of the leading institutional private lenders in the United States specializing in originating residential business-purpose loans, sold its origination assets to Roc360. Excluded from the sale are previously originated, loans and loan servicing operations. Roc360 will use the storied and trusted brand name CIVIC, which will join Roc360's growing portfolio of leading real estate brands, including Roc Capital, Finance of America Commercial¹, ElmSure, Wimba Title, and Tamarisk Appraisals.
CIVIC was founded in 2014 to serve investors who did not fit within the traditional real estate lending criteria. Since its inception, CIVIC has funded in excess of $9.4 billion through its borrower-direct, broker, and correspondent channels.
The CIVIC asset acquisition materially strengthens Roc360's existing national origination footprint, specifically in CIVIC's home state of California, the largest market for business-purpose loans to real estate investors. In 2022, Roc360 affiliates and CIVIC collectively funded in excess of $7.6 billion in business-purpose loans.
"In the face of market difficulties, we continue to expand and develop more products and services for real estate investors. We believe that America's housing stock is severely undersupplied, with more than 50% of homes in deferred maintenance, lacking the modern-day energy efficiencies that our clients install with each loan they take from us. We will continue to prudently expand and invest for long-term solutions to these structural problems," said Arvind Raghunathan, Ph.D., Founder and Chief Executive Officer, Roc360 family of companies.
Piper Sandler and Company served as financial advisor to PacWest Bancorp in the transaction.
Roc360 is a leading financial services platform for residential real estate investors, providing vertically integrated solutions, including lending, servicing, insurance, and valuation. Founded in 2014 by Arvind Raghunathan, Maksim Stavinsky and Eric Abramovich, Roc360 employs over 300 people and has funded nearly $25 billion in loans throughout the United States through its lending affiliates. The company is headquartered in New York City with offices on three continents.
About PacWest Bancorp
PacWest Bancorp ("PacWest") is a bank holding company headquartered in Los Angeles, California, with an executive office in Denver, Colorado, with one wholly-owned banking subsidiary, Pacific Western Bank (the "Bank"). Pacific Western Bank is a relationship-based community bank focused on providing business banking and treasury management services to small, middle-market, and venture-backed businesses. The Bank offers a broad range of loan and lease and deposit products and services through full-service branches throughout California and in Durham, North Carolina and Denver, Colorado, and loan production offices around the country. For more information about PacWest Bancorp or Pacific Western Bank, visit www.pacwest.com.
REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
PRnewswire | May 10, 2023
Halcyon, a company that provides income verification services, announced today that their integration is now built on the latest Encompass Partner Connect™ API Platform and available through ICE Mortgage Technology®, part of Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure to integrate their product, Tax Wallet, for income transcript verification, with Encompass® for fast and easy access to income and tax data, through Halcyon's direct API integration into the IRS.
This AI driven Fintech advancement cuts closing costs, decreases turnaround times, and levels the playing field for all borrowers with fair and impartial services. Tax Wallet's integration with Encompass provides loan originators access to income and tax data in near real time in data format without having to navigate outside of Encompass making it a seamless solution that is quick and easy to adopt, benefiting loan officers and borrowers alike. See their Marketplace Profile here.
"Halcyon is excited to announce this partnership and integration with ICE Mortgage Technology so lenders can increase their productivity, decrease costs and provide a benefit to the borrower to help them be a homeowner faster," says Kirk Donaldson, CEO of Halcyon.
Halcyon assists in deepening lenders' overall relationship with their borrowers to offer products and services that are specific to each individual, creating additional revenue streams beyond the initial loan closing. They have multiple products that ensure you will know more about your borrower every step of the way – IRS income & tax transcripts, digitally prepared tax returns and a Registered Investment Advisory platform to offer full financial services to your borrowers. Visit www.halcyonsw.com.
About ICE Mortgage Technology
ICE Mortgage Technology combines technology, data and expertise to automate the entire mortgage process from consumer engagement through loan registration and every step and task in between. ICE Mortgage Technology is the leading cloud-based loan origination platform provider for the mortgage industry with solutions that enable lenders to originate more loans, lower origination costs, and reduce the time to close, all while ensuring the highest levels of compliance, quality, and efficiency. Visit icemortgagetechnology.com or call (877) 355-4362 to learn more.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
Businesswire | May 30, 2023
Rubicon Technologies, Inc. (“Rubicon” or the “Company”) (NYSE: RBT), a leading digital marketplace for waste and recycling and provider of innovative software-based products for businesses and governments worldwide, today announced that it has entered into an agreement with GoldOller Real Estate Investments (“GoldOller”), a seasoned real estate investment and management firm, to provide scalable waste and recycling services.
GoldOller finds unique investment opportunities in markets and product classes often passed over by more traditional institutional investors. In this three-year agreement, Rubicon will provide waste and single-stream recycling services to GoldOller across 17 multifamily locations in the United States. With a growing portfolio of owned and managed multifamily assets totaling more than 40,000 units, GoldOller’s properties extend from New York to Florida, and all the way across to Texas. The three founding members of GoldOller have a combined 70 plus years of experience in real estate investment, management, and development.
Rubicon will bring its market-leading RUBICONConnect™ product, and the power and scope of its network of more than 8,000 hauler and vendor partners, to bear in providing scalable waste, recycling, and sustainability solutions to GoldOller in support of its environmental and business goals.
“Rubicon is proud to support GoldOller’s forward-thinking approach to real estate investment with our industry-leading waste, recycling, and sustainability solutions,” said Tom Owston, Chief Commercial Officer at Rubicon. “By providing scalable waste and recycling services through our digital platform, we’re supporting GoldOller in its efforts to reduce its environmental impact while delivering value to its stakeholders.”
“We are excited to partner with Rubicon to help us achieve our environmental and business goals while also improving the quality of life for our residents,” said Sarah Campion, VP of Asset Management at GoldOller. “We believe that the use of Rubicon’s technology will help us make a measurable difference in the communities where we operate.”
For more information on how Rubicon is deploying its market-leading technology products to equip businesses, local governments, and haulers with the tools and software they need to improve operations, meet sustainability goals, and (ultimately) end waste, visit the enterprises, governments, and haulers pages on Rubicon’s website.
Rubicon Technologies, Inc. (NYSE: RBT) is a digital marketplace for waste and recycling, and provider of innovative software-based products for businesses and governments worldwide. Striving to create a new industry standard by using technology to drive environmental innovation, the company helps turn businesses into more sustainable enterprises, and neighborhoods into greener and smarter places to live and work. Rubicon’s mission is to end waste. It helps its partners find economic value in their waste streams and confidently execute on their sustainability goals. To learn more, visit rubicon.com.
AboutGoldOller Real Estate Investments
With a growing portfolio of owned and managed multifamily assets totaling more than 40,000 units, GoldOller “Nation” now extends from New York to Florida and all the way across to Texas. Richard Oller and Jeffrey Goldstein joined forces in 2004 sharing the helm at Multifamily Management Services and affiliates (MMS) and together with founding member Jake Hollinger created GoldOller Real Estate Investments in 2009. With a combined 70-plus years of experience in real estate investment, management, and development – projects include market rate and affordable apartments, condominiums, office, hotel, retail, and single-family development. Led by Richard, Jeffrey, Jake, and the addition of VP of Operations Jill Hinton – GoldOller Real Estate Investments is an innovative owner/operator and an emerging leader in the multifamily real estate industry. And while our expertise is increasing value, our business is helping you achieve your investment objectives, reach your career potential or experience comfortable living.