Thoma Bravo Acquires Ellie Mae – 10% Staff Laid Off in Restructure

Ellie Mae laid off around 10 percent of its staff in a team restructure plan after being acquired in April by Thoma Bravo for an all cash $3.7 billion purchase. Ellie Mae, Inc. is a cloud based software company that electronically processes 35% of all U.S. mortgage applications through its streamlined mortgage origination process. Ellie…

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Cedar Band Corporation Sued HUD Over FHA Mortgage Assistance Program Changes

On April 18, 2019, US Department of Housing and Urban Development (HUD) issued a clarification of interpretation letter to lenders; Mortgagee Letter 19-06. The letter’s purpose was to clarify documentation requirements when a homebuyer is receiving down payment money from another person or entity.  It was immediately effective, referring to effective date for case numbers…

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