Industry Watch: Figure merges with Homebridge, Ready Capital acquires Red Stone and more

Ready Capital Corporation has announced the acquisition of Red Stone and its affiliates in exchange for cash and stock, as well as the assumption of certain Red Stone guarantees of secured indebtedness. Red Stone’s management team, including chair and co-founder John Sokolovic, and all employees have already joined Ready Capital.

Blockchain-based fintech lender Figure Technologies has signed an agreement to merge with Homebridge Financial Services. Figure, founded in 2018 by entrepreneur Mike Cagney (who also founded SoFi), leverages blockchain technology to offer origination, servicing, financing and private fund services in HELOC, student loan and mortgage refinancing and personal loans. The company reached a valuation of $3.2 billion after its latest funding round in May.

Planet Home Lending has opened a new branch in Wilmington, North Carolina, located at 1608 Queen Street. Dawn Bailey is branch manager of the new location.

Advisors Mortgage Group has opened a new branch in Manalapan, New Jersey. Located at 200 Craig Road, the new branch is managed by Anthony Marrone.

Union Home Mortgage has announced a new multi-year partnership with Ohio State University, making It the “Official Home Lending Sponsor of Ohio State Athletics.” UHM will receive exposure and brand visibility across a variety of Ohio State Athletics’ media platforms and venues, such as network radio exposure in both football and men’s basketball broadcasts and LED signage positions in both Ohio Stadium and The Schottenstein Center. Additionally, UHM will be the presenting sponsor of the Buckeyes’ annual football Spring Game each year of the agreement.


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