David L. Carneal has been promoted to executive vice president and co-chief operating officer at Cornerstone Realty Income Trust Inc., Richmond, Va., and Gus G. Remppies has been promoted to EVP and chief investment officer.Mr. Carneal was previously senior vice president of operations at the real estate investment trust, and Mr. Remppies was senior vice president of acquisitions, the REIT said. Mr. Carneal, 39, joined Cornerstone in 1996, and in 1998 he became senior vice president of Apple Residential Inc., which merged into Cornerstone in 1999. Mr. Remppies, 43, joined Cornerstone in 1995 and has served as SVP of acquisitions since 1998. The company can be found online at http://www.cornerstonereit.com.
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Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
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A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
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The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
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The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
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The top five producers had an average dollar volume of VA and USDA loans of more than $35 million in 2023.
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The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
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