Capital Trust Inc., a New York-based real estate investment trust, has announced the closing of a $50 million senior unsecured revolving credit facility with WestLB AG.The REIT said the facility will bear interest at 1.50% above the London interbank offered rate. The company can be found on the Web at http://www.capitaltrust.com.
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
While home lenders are seeing a decrease in issues coming through mobile channels, phone fraud spiked last year, accounting for 28% of losses, a new report found.
The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
