The First American Corp., Santa Ana, Calif., has announced the acquisition of KTR Newmark Real Estate Services LLC and KTR Newmark Consultants LLC, privately held firms that offer appraisal, environmental, and engineering advisory services related to commercial real estate investment.The terms of the transaction were not disclosed. The combined businesses will operate under the name KTR Valuation & Consulting Services LLC and will be headquartered in New York City, with regional offices in Chicago, Dallas, Los Angeles, and Woodbridge, N.J. "KTR employs many of the most sought-after commercial real estate service specialists in the nation," said James M. Orphanides, a regional vice president of First American Title Insurance Co. and now chairman and president of KTR Valuation. Terence Tener, an 18-year veteran of KTR Newmark, will be the new company's chief executive officer. First American can be found online at http://www.firstam.com.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
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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.
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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.
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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.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28 -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
March 28