TVC Capital, a San Diego-based private equity fund focused on software acquisitions and investments, has acquired Del Mar DataTrac from Fiserv just two years after Fiserv originally acquired the product. Interestingly, Jeb Spencer, managing partner at TVC, served as Del Mar's executive chairman from 2003 to 2005, during which time the company's customer base more than tripled. Veteran company employee Rob Katz has rejoined Del Mar and will help lead the ownership transition. Details of the transaction were not disclosed. Fiserv will now focus more on its core business, which prompted the sale. "This divestiture further demonstrates Fiserv's focus on its core financial and insurance businesses and its Fiserv 2.0 goals of helping clients to achieve best-in-class status," said Tom Warsop, president of Fiserv's Financial Institutions Group. With over 15 years of industry presence, Del Mar DataTrac has been a provider of back-office lending solutions. Del Mar serves over 300 mortgage banking firms throughout the United States.
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Hedge fund manager Scott Bessent had been the betting favorite to take the reins at Treasury. Scott Turner, a former congressman and NFL player, will lead the housing agency.
November 22 -
In its latest financial stability report, the Federal Reserve warned high equity valuations and low levels of liquidity could leave the financial system vulnerable to shocks.
November 22 -
Freddie Mac is offering a municipal bond option for investors in its ML multifamily securitization offerings starting with its December issuance.
November 22 -
Investors bought 15.9% of U.S. homes sold in Q3, according to Redfin, a level similar to 2018 and 2019, when the share was around 14%.
November 22 -
The development is the latest in an ongoing series of initiatives the Department of Housing and Urban Development has introduced to encourage growth of the factory-built construction segment.
November 22 -
Serious mortgage delinquencies are at their highest since May 2023, and early payment default activity is also a concern, ICE Mortgage Technology said.
November 22