Commercial Defeasance, a Charlotte, N.C.-based company that helps manage the process of defeasing commercial mortgage-backed securities loans, is opening a new office in Los Angeles next month.Matt Rothman, vice president of sales, will manage the new office, according to the company. Defeasance is a process whereby a portfolio of government securities replaces real estate as the collateral for a mortgage loan. Redemption of principal and interest from the securities pays all remaining debt service, so the note technically remains in place but is repaid from the securities purchased.
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New guidelines regarding buy-side and sell-side real estate agent compensation are set to go into effect this summer.
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Affordability challenges also have some aspiring homeowners taking second jobs or looking to draw from retirement savings, according to Redfin.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
March 28 -
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