Frank Pallotta, a former Morgan Stanley mortgage origination executive, has become chief executive officer and owner of his own company, Steel Curtain Capital Group LLC, Mahwah, N.J. Mr. Pallotta was previously a managing director in Morgan Stanley's fixed-income division. He said his new company specializes in distressed/real estate-owned assets.
The sides didn't suggest a deal was imminent, but indicated their willingness to wrap up the lingering Biden-era complaint involving a Black homeowner.
Even with the positive news when it came to income, two of the big four underwriters had their earnings outlook slashed, while a third received an upgrade.
AD Mortgage's news survey finds 82% expect AI to transform the industry, and relationship skills will decide who wins in 2027.
An acquisition this year could be one in a line of other future deals, potentially involving lenders or commercial real estate firms, Ellington executives said.
If the deal is completed, the companies will form the sixth-largest publicly traded homebuilder in the U.S. with about $6.6 billion in combined revenue.
Fannie Mae and Freddie Mac's oversight chief said that he's displeased with a report that these builders have retreated from serving first-time buyers.
