American Financial Realty Trust, Jenkintown, Pa., has reported that its president and chief executive officer, Harold "Hal" W. Pote, died suddenly and unexpectedly while vacationing with his wife this week in Turkey.Mr. Pote, 60, had served as president and CEO of the real estate investment trust since August 2006. The company's board of trustees announced the formation of an interim office of the president, consisting of Glenn Blumenthal, chief operating officer; Edward Matey Jr., general counsel; and David Nettina, chief financial officer. They will report to the board and to mortgage industry veteran Lewis S. Ranieri, the board chairman. The company can be found online at http://www.afrt.com.
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House Democrats on the Financial Services Committee said the more than 400-page Community Reinvestment Act proposal warrants more time for review, given its sweeping implications for community development and bank lending.
September 25 -
As tech firms increasingly rely on debt to build out their artificial intelligence buildouts, long-dated U.S. Treasuries are facing heightened competition.
September 25 -
A judge found United Wholesale Mortgage did not break the law in its handling of the retirement plan, which ex-workers say cost them a collective $1.8 million.
September 25 -
Chase Home Lending announced a limited-time rate sale, while Citizens Bank and Bank of America are focused on building up affordability programs.
September 25 -
New enhancements in business purpose lending by lenders and vendors could help originators looking for new business as conforming rates keep rising.
September 25 -
The compressed timeline could address a key challenge mortgage companies face when considering changing vendors.
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