Goldman Sachs Acquires House Flipping Lender – NMP Skip to main content

Goldman Sachs Acquires House Flipping Lender

Oct 16, 2017
When it comes to buying and selling real estate owned (REO) properties, Huntsville, Ala., leads the nation for flipping this particular property, according to data from the online real estate marketing platform Hubzu

Goldman Sachs Group Inc. has announced plans to buy Los Angeles-based Genesis Capital LLC, which provides funds for developers seeking to purchase, renovate and flip single-family homes.
 
Genesis was launched in 2007 and is being acquired from funds managed by Oaktree Capital Management LP. Terms of the acquisition were not disclosed.
 
"Our new partnership is a validation of the platform we have worked tirelessly to build and the strong relationships we have developed with a loyal customer base," said Robert Wasmund, Co-CEO of Genesis Capital. "We look forward to working with the Goldman Sachs team in our next stage of development."

 
About the author
Published
Oct 16, 2017
Rocket Makes VantageScore Its Default After Testing Finds Borrower Savings

After four months of testing, Rocket will make VantageScore 4.0 its preferred model for eligible retail loans while keeping both scoring options available to brokers

Sep 29, 2026
CHLA: More Freddie Mac MBS Buying Could Narrow Mortgage Spreads

Trade group estimates greater Freddie participation could compress spreads another 10 to 12 basis points as Fannie has taken the lead in GSE mortgage-bond buying

Sep 23, 2026
Early Loan-Limit Race Splits Into Three Tiers

Lenders are now offering $845,000, $847,440, or $850,000 before FHFA sets the official 2027 limits

Sep 23, 2026
Better, Garg Clash Over Claimed 46% Shareholder Support

Better disputes its former CEO’s preliminary consent count as the two sides trade accusations and an Oct. 2 target date approaches

Sep 23, 2026
Fannie Changes How Rent From A Former Home Counts

Fannie now prohibits leases for departing residences and permits market-analysis tools instead of Form 1007, creating a key documentation difference from Freddie Mac