Jordan Paul has been named senior managing director of the recently established Related Investment Fund, which was formed to buy distressed mortgages and property from other developers, lenders, and property owners. Mr. Paul joins the Miami-based fund from Aquila Property Co., a commercial real estate investment, management, and advisory firm he founded in 2000, according to The Related Group, a private multifamily developer that formed the fund in March with Lubert-Adler, a Philadelphia-based real estate private equity firm.
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Flatworld Mortgage Solutions says its former vice president breached his employment agreements by soliciting its customers as he formed a rival offshoring firm.
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The HomeSafe Second product is now available in more than one third of all states, according to the reverse mortgage specialist.
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The Department of Housing and Urban Development agreed to do more to manage due-and-payable obligations contingent on the availability of certain resources.
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The ex-housing official is returning to a previous employer with the aim of helping guide the firm through an evolving landscape in federal policy.
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A $160 million deal to merge Hometown Financial Group subsidiaries and Primary Bank will lead to consolidation under a single brand name of TruNorth.
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The Aspire business reported $2.1 billion of lock volume, up 32% from the first quarter, but total production at the REIT fell to $8 billion from $8.5 billion.
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