Richard Caldwell has been named executive vice president and chief lending officer at California Savings Bank's San Francisco office as part of the bank's expansion of commercial real estate lending in Northern California.The San Francisco-based bank said it now has three commercial lending offices serving Northern California: San Francisco, Walnut Creek, and Sacramento. Patricia Theophilus, EVP and chief credit officer, said the bank now has a commercial loan pipeline of over $300 million. Mr. Caldwell, who was previously a principal at Buchanan Street Partners, a regional mortgage bank and fund manager, said California Savings plans to "move quickly to meet rising demand in the region for land loans, ground-up construction, value-added bridge financing, and permanent loans across a broad range of commercial property types, including multifamily, retail, hospitality, R&D, office, industrial, and single-family residential tracts." Mr. Caldwell has also held positions at GMAC Commercial Mortgage and Merrill Lynch Capital.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
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Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
March 28 -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
March 28 -
The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
March 28 -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28 -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
March 28