REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
PRnewswire | May 05, 2023
On April 19, 2023,a successful acquisition by Millennium Trust Company, a leading provider of health, wealth, retirement, and benefits solutions. In this strategic move, Accruit is excited to bring real estate 1031 exchange service solutions to over 5 million Millennium Trust clients holding over $55 billion in assets under custody.
After an extensive process and in-depth evaluation of numerous companies, Accruit found the right match in Millennium Trust. For over 20 years, Millennium Trust has provided access to and custody solutions for alternative asset investments, including real estate, making the company and its existing clients a great fit for Accruit's real estate 1031 exchange services.
"As we looked at how to best serve our current clients and grow our business, finding a company with strategic, like-minded values and service, which we found in Millennium Trust, was the right move," said Brent Abrahm, CEO and Founder of Accruit. "This acquisition isn't about slowing down, it's about accelerating our growth and opportunities, and extending our reach to over 5 million potential clients."
As a 1031 exchange Qualified Intermediary and a technology solution provider, Accruit holds a unique position in the marketplace, making it an attractive extension of the solutions Millennium Trust currently offers clients. Accruit's patented 1031 exchange workflow technology, Exchange Manager ProSM, streamlines the 1031 exchange process through embedded controls, automated notifications, custom exchange agreement and document creation, and digital execution via electronic signatures, making it simple and efficient.
"Being part of Millennium Trust allows Accruit to exponentially expand our footprint and provide exceptional service to more people looking to maximize their financial wellbeing," said Steven Holtkamp, Managing Director, and CFO of Accruit.
About Accruit Holdings
Accruit Holdings boasts over 20 years in the 1031 exchange industry. Through our leading independent, national Qualified Intermediary, we provide 1031 exchange services across the U.S. and specialize in all types of exchanges from forward, reverse, and build-to-suit/improvement, to specialty "non-safe harbor" reverse exchanges. We revolutionize the industry through our patented 1031 exchange workflow software by offering both SaaS and back-office solutions to the real estate marketplace. Learn more at www.accruitholdings.com
About Millennium Trust Company
Millennium Trust Company solves important business challenges through innovative financial wellness solutions that help people plan, save and invest. With clients holding more than $55 billion in assets under custody, we are committed to using our decades of expertise and strong partnership with the financial community to empower employers, advisors and institutions to help people achieve short-term and long-term financial security. Learn more about Millennium Trust at www.mtrustcompany.com.
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MORTGAGE AND LENDING, ASSET MANAGEMENT
PRnewswire | June 02, 2023
Planet Home Lending, LLC, a national mortgage lender and servicer, announced the asset acquisition of retail lender Platinum Home Mortgage Corporation, Hoffman Estates, Illinois. Planet will acquire the majority of Platinum's origination staff, including more than 20 branch offices in strategic locations throughout the United States.
"We look to acquire right-sized, financially solid distributed retail companies," said Michael Dubeck, CEO and President of Planet Financial Group, parent of Planet Home Lending. "Platinum is a solid cultural fit. Its talented, highly experienced people share our commitment to delivering exceptional lending experiences supported by deep personal care for borrowers."
Planet expects to continue gaining market share through organic growth and strategic acquisitions. The Platinum acquisition brings to Planet a purchase-focused platform and high-producing branches, expanding the company's footprint in Midwest, Northwest, and West Coast markets.
Planet is now #9 on Inside Mortgage Finance's overall lender leaderboard and #4 among government loan producers.
"The move to Planet brings immediate access to improved pricing, technology, and marketing to Platinum's branches," said Platinum CEO and President Lee M. Gross. Gross will join Planet as Senior Vice President and will continue to lead the Platinum team at Planet.
"Planet's efficient platform gives us the pricing advantage of $26 billion in volume," Gross said. "In addition to agency and GSE home loans, Planet also has niche products tailored to today's tight real estate markets, including self-funded One-Time Close (OTC) construction loans as well as manufactured housing and renovation mortgage loans."
Platinum's former President and CEO Bill Giambrone, along with his brother Michael Giambrone, founded the company in 1993. Bill Giambrone's illustrious 30-year career as an independent mortgage banker includes remarkable contributions to the industry, highlighted by his service as a board member and past president of the Community Home Lenders Association.
About Planet Financial Group, LLC
Planet Financial Group, LLC, Meriden, Connecticut, is a fully integrated family of companies delivering innovative origination, servicing and asset management solutions. Through this synergistic ecosystem of products, services and technologies, Planet Financial Group provides best-in-class experiences for investors pursuing value maximization and borrowers seeking streamlined end-to-end loan lifecycle support. Planet Financial Group is the parent of Planet Home Lending, LLC and Planet Management Group, LLC, which also does business under the name Planet Renovation Capital.
About Planet Home Lending, LLC
Planet Home Lending, LLC, Meriden, Connecticut, (NMLS #17022) is an approved originator and servicer for FHA, VA and USDA, as well as a Freddie Mac and Fannie Mae Seller/Servicer, a full Ginnie Mae Issuer and approved sub-servicer and a Standard & Poor's Global Ratings- and Fitch Ratings-rated special and prime residential servicer. Planet Home Lending, LLC has been assigned a corporate family rating by Moody's Investors Service viewable at www.moodys.com. Its correspondent division offers a full suite of government, agency and niche home loans. Planet Home Lending, LLC is also a special servicer managing diverse investor portfolios. Its customized servicing solutions maximize asset recovery and optimize performance through active management at the portfolio and loan levels. Planet Home Lending, LLC is an Equal Housing Lender. For more information about Planet Home Lending, LLC,
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REAL ESTATE INVESTMENT, BUYING/SELLING
Businesswire | April 10, 2023
Rent., a leading provider of integrated marketing solutions to the multifamily and single-family rentals industry, and Realtor.com®, today announced a rental content listing distribution agreement. RentMarketplace. listings now will be distributed to the large Realtor.com® audience in addition to the current exposure on the Rent. family of sites: Rent.com, ApartmentGuide.com, Rentals.com and Redfin.com.
A first in the industry, RentMarketplace. is the only listing network providing multi-family properties access to two of the nation’s largest real estate listing sites: Redfin.com and Realtor.com®.
“At Rent., we are committed to simplifying the rental experience by connecting the right people with the right properties. In teaming up with Realtor.com®, we have significantly expanded the reach of our clients’ listings,” said Jon Ziglar, CEO of Rent. “RentMarketplace. is the only multi-family listing network to cover two of the largest real estate networks in the country, which brings incredible value to our partners and makes it easier for properties to connect with their next renter.”
The rental listing data provided by Rent. complements Realtor.com®’s current rental content derived from direct relationships with single-family and low-rise rental owners, residential property management companies, and multiple listing services nationwide. The addition of the listing data from Rent. provides a more comprehensive experience for people looking for a home or apartment to rent.
Laurence Jankelow, Realtor.com®’s Vice President of Rentals added: “As we continue to invest in and grow Realtor.com®’s open rentals marketplace, we are excited to work with new content partners of all shapes and sizes that allow us to create a better consumer experience for renters on our site. Millions of consumers search Realtor.com® each month for their next home or apartment, and as we continue to expand our audience and listings content to include the widest selection of quality rentals and more choices than ever before, we are helping drive greater results for our partners.”
With this agreement to expand content to the Realtor.com® audience, active subscription client property listings on Rent., which represent a subset of total inventory, will now receive access to over 350 million visits each month, vastly expanding their reach and exposure to potential renters, increasing leads and filling more vacancies.
About Rent.
Rent. is a two-sided marketing platform that simplifies the entire renter experience by matching the right property with the right renter, at the right time. Rent. services the property side of the market with scaled marketing solutions such as search engine marketing, lead nurturing through chat bots and client automation tools, and reputation management through ratings and reviews as well as social media monitoring and marketing. This, paired with advanced search filtering and an optimized consumer app and site experience, enables Rent. to offer renters an ideal home-finding experience. Rent. exists to help people find the perfect place. Rent. is operated by Rent Group Inc., a subsidiary of Redfin Corporation.
About Realtor.com®
Realtor.com® is an open real estate marketplace built for everyone. Realtor.com® pioneered the world of digital real estate more than 25 years ago. Today, through its website and mobile apps, Realtor.com® is a trusted guide for consumers, empowering more people to find their way home by breaking down barriers, helping them make the right connections, and creating confidence through expert insights and guidance. For professionals, Realtor.com® is a trusted partner for business growth, offering consumer connections and branding solutions that help them succeed in today’s on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. For more information, visit Realtor.com®.
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