Commercial Capital Bancorp Inc. and Sperry Van Ness International Inc., both based in Irvine, Calif., have announced a strategic alliance under which SVN will promote CCBI as its provider of financing, banking, and deposit products.The companies said CCBI will provide SVN, its brokers, and its clients with an institutionalized source of prompt funding decisions for borrowers and properties referred for financing. The alliance and marketing agreement represents an effort to create "the one-stop shop for income property investors," said Stephen H. Gordon, chairman and chief executive officer of CCBI. Joint marketing will include reciprocal referral efforts, website links, and direct-mail promotions. CCBI, an originator of multifamily loans and the holding company of Commercial Capital Bank, can be found online at http://www.commercialcapital.com. SVN, a commercial real estate brokerage firm, can be found at http://www.svn.com.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
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The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
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The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
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The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.
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The five states with the lowest property taxes have an average effective real-estate tax rate of 0.44%.
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