Howard M. Sipzner, chief financial officer and treasurer of Equity One Inc., North Miami Beach, Fla., has been appointed executive vice president of the real estate investment trust.The shopping center REIT said Mr. Sipzner will continue as CFO, but that David W. Briggs has been named vice president and treasurer. Mr. Briggs will also continue as chief accounting officer of the REIT. Mr. Sipzner, 42, has been with Equity One since 1999 following a 15-year career with Chase Securities, Chemical Banking Corp., and Merrill Lynch, the REIT said. Mr. Briggs, 43, spent 15 years with Westfield America and Ernst & Young LLP, joining Equity One in 2002.
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The Community Home Lenders of America and the Community Associations Institute want the FHA to insure loans on condos approved by Fannie Mae and Freddie Mac.
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The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
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Most lenders said they had already priced in the widely-anticipated decision to cut short-term rates for 30-year home loans but other products will benefit.
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The deal for the Class A office building owner will be funded from Rithm's cash as well as liquidity on the balance sheets, plus possible co-investors.
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Mortgage applications saw a significant jump for the second consecutive week, as homeowners took advantage of plummeting rates, the MBA said.
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The government-sponsored enterprise is making changes to mortgage-backed securities and servicing disclosure files to support use of the advanced credit score.
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