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Rocket Trims IPO By 39 Pct From $3.3B To $2B After Investors Reject Valuation

PYMNTS

Rocket Companies, the parent of mortgage lending giant Quicken Loans , reduced its terms to go public, Bloomberg reported. The Detroit-based company is expected to market a reduced number of shares at about $18 to $20 apiece, Bloomberg reported, citing sources. which is owned by Gilbert.

Cleveland 233
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VCs Back Autobooks For SMB Banking

PYMNTS

The company cited research from Below Research that found 70 percent of SMBs say they would use a cash flow management solution if it were offered by a bank, representing a gap between what small businesses want and what they get from their banks.

Detroit 122
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MBA Tech 2017: Blockchain, APIs and Robots, Oh My!

William Mills

Seth Wheeler, Managing Director at JPMorgan Chase, posed the question, “Do we build or do we partner?” Tony Garritano from Progress in Lending held an Innovations Awards event at the London House which showcased seven companies in the mortgage industry that are leading the way in compliance, eClosings, appraisals and information management.

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Helping Homeowners Access Home Equity Without Debt

PYMNTS

The last financial crisis was kicked off by structural flaws in the real estate market that left people underwater on loans they were unable to manage. ” Unison offers them that access point at a time when the product they offer has become particularly relevant to the market’s needs. .”

Las Vegas 255
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15 Minutes With … Scott Badley

Independent Banker

Scott Badley says his informal work attire matches his casual management style. But a couple are pushing up against the metro Detroit area. We complement that with a compliance committee of all those regulation owners (mostly department managers) who meet at least monthly to discuss compliance issues. Scott Badley.

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VC Seems To Fizzle Out For B2B FinTechs

PYMNTS

Instead, VCs leaned conservatively toward a mix of B2B FinTechs operating in the financial management space for small businesses (SMBs) and in the treasury management market for mid-level and larger enterprises. Treasury Management. The company provides cash and treasury management solutions. Alternative Lending.

Fintech 100
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Ally Financial starts job cuts with less than 5% of staff affected

American Banker

The Detroit-based firm said the job cuts will occur across divisions and aren't isolated to a single line of business.

Detroit 41