1031 Exchange Options, a real estate investment consultancy based in Walnut Creek, Calif., has changed its name to Inverness Real Estate Investments. The company said the name change reflects its "increased focus on individual investors" seeking to buy institutional-grade real estate. "While much of our past business came from clients seeking investment properties to complete a 1031 exchange, we have seen over the past three years that our broad selection of real estate investment opportunities is drawing increased interest from direct investors," said Cary Losson, founder and president of Inverness. The company can be found online at http://www.invernessrei.com.
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California Gov. Gavin Newsom signed a bill that requires HOAs to hold a minimum reserve contribution and the California Fair Lending Examination Act last week.
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The REIT accused the wholesale leader of hiding its massive market gamble during the negotiations, which resulted in $741 million in losses.
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The Federal Reserve is restructuring bank supervision into five regions, following state lines, and putting one regional leader in charge. It's also planning to revise regulatory thresholds so that banks will need to be bigger before tougher standards kick in.
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The megalender's new platform, called Orbit, aims to provide its broker partners with advantages and perks that help them compete in a tough rate environment.
October 6 -
While the three largest lenders now offer VantageScore, Bank of America Securities says two agency pulls boosts consumers scores, no matter which model.
October 5 -
Federal Housing Finance Agency Director Bill Pulte said last week that it will slash the budget for its inspector general, spurring Senate Banking Committee Democrats to seek his testimony.
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