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26 MOVERS & SHAKERS KEEP UP WITH WHO'S DOING WHAT AND WHO WENT WHERE Got something to share with us? Send it to Editor@DSNews.com. Solutionstar Announces Acquisition of HED365 Solutionstar, a subsidiary of Texas-based Nationstar Mortgage Holdings, announced Friday it has entered into an agreement to acquire Experience 1, Inc., the holding company for HED365 and two other technology subsidiaries in a $36 million cash deal. In its announcement, the com- pany described the strategic acquisi- tion as another step in its "continu- ing growth as the nation's premier real estate technology company." With the new addition, Solu- tionstar says it hopes to expand its purchase HED services, further di- versify its revenue streams, expand into new markets, and position the newly combined enterprise as a premier player and innovator in the national HED arena. Friday's announcement is just the latest in a series of strategic moves on Solutionstar's part to grow as a leader in real estate tech- nology. In May, the company ac- quired Real Estate Digital (RED), a real estate data aggregation firm that provides online marketing, data, transaction management, and digital media solutions. e company took another ma- jor step earlier this month with the addition of renowned technology executive Kal Raman as CEO. "When I was hired to take the helm at Solutionstar, we promised to continue to make significant, sustained investments in innova- tion and expand our products and services to elevate the company as a national leader in real estate tech- nology," Raman said. "Acquiring RED was an important step in that evolution, and acquiring HED365 underscores Solutionstar's commit- ment to leverage our technological expertise to deliver comprehensive, end-to-end online services for homebuyers, home sellers, and real estate professionals." e transaction, which is subject to customary approvals and consents, is expected to close in January 2015. CONTINUED FROM PAGE 24 CONSUMER, GOVERNMENT SPENDING BOOST REVISED Q3 2014 GDP RATE UP TO 3.9 PERCENT e U.S. economy continued to outperform in the third quarter of last year as consumer and government spending provided a boost to gross domestic product (GDP). According to a second estimate from the Com- merce Department, GDP grew at an annualized rate of 3.9 percent in July, August, and September of 2014, down slightly from the second quarter's growth rate of 4.6 percent and up from the first quarter's 2.1 percent downturn. A group of economists surveyed by Econoday had forecast a growth rate of 3.3 percent, a slight cut from the government's initial estimate of 3.5 percent. e Commerce Department said its second esti- mate received a lift from private inventory investment, which was down less than previously thought, and larger increases in consumer spending and nonresi- dential fixed investment than were first reported. at was offset in part by a smaller increase in exports. According to the department's Bureau of Econom- ic Analysis (BEA), consumer spending increased 2.2 percent in the second quarter, up from a first estimate of 1.8 percent. Spending increased for both durable goods (8.7 percent) and non-durables (2.2 percent). e price index for domestic purchases, a gauge of prices paid by American consumers, rose 1.4 percent, 0.1 percentage points higher than in the advance estimate. Meanwhile, nonresidential fixed investment increased 7.1 percent, fueled largely by a 10.7- percent increase in investing in equipment. Government spending also contributed to the third-quarter's expansion. According to BEA, real federal government consumption expenditures in- creased 9.9 percent in Q 3, a marked turnaround from a decline of 0.9 percent in the second quarter. Much of that increase came from defense spending, which was up 16 percent. e continued good news for the third quarter comes as Japan heads into a new recession and eco- nomic woes continue in the eurozone. With GDP looking relatively stable compared to the rest of the globe and employment indicators looking strong, economists say the Federal Reserve— which recently concluded its monthly bond-buying program launched to stimulate the economy—has more reason to consider moving ahead to hike interest rates sooner rather than later. While many investors expect the first increase to be around the middle of the year, some analysts say it could be earlier than that. "e unexpected strength of third-quarter GDP growth. . .is another reason to expect the Fed to begin normalizing interest rates sooner than expected next year," said Paul Ashworth, chief U.S. economist at Capital Economics. "We still anticipate the first rate hike coming in March next year." Hutchens Law Firm Attorneys Receive Top Honors Hutchens Law Firm attorney Michael B. Stein has received the highest rating for the legal profession, an AV Rating from Martindale-Hubbell, and Hutchens associate attorney Lanee Borsman has been named the 2014 Chief Justice Service Award winner by the North Carolina Lawyer Assistance Program (LAP). Stein has been practicing in the area of creditors' rights for 20 years. His primary areas of focus have been assisting clients with pursuing and collecting outstanding debt through various means. Borsman has been volunteering with the North Carolina Lawyer Assistance Program for a year and a half, and an unusually high level of volunteerism netted her this year's Chief Justice Service Award. The LAP is a service provided by the North Carolina State Bar that provides confidential assistance to North Carolina lawyers. Approximately 1.3 million GSE-backed mortgages were underwater in October 2014, representing an aggregate of $39 billion in negative equity, according to Black Knight Financial Services. KNOW THIS

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