GMAC Commercial Mortgage Corp. has provided a total of $75 million in permanent, fixed-rate financing for two different projects. The company has allotted $50 million for a Houston office building and $25 million for phase one of Columbus Commons, a newly built Philadelphia retail property. The Houston property is one of the four major office buildings on the site, which also includes the Omni Hotel. The 481,222-square-foot office building is situated on 28 acres adjacent to the Buffalo Bayou. In Philadelphia, the commercial retail property is located at Columbus Boulevard and is anchored by a 315,000-square-foot IKEA and a 161,000-square-foot Lowe's. Major tenants include a 30,000-square-foot Best Buy, a 35,000 square-foot Linens 'n Things, a 12,800-square-foot R&S Strauss and a 10,700-square-foot Pier 1 Imports. Both transactions were arranged through GMAC's Proprietary Lending Group.
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The RMBS notes benefit from geographic diversity and credit enhancement.
10h ago -
A Consumer Financial Protection Bureau "waives any alleged noncompliance" by the mortgage company while continuing to dole out redress to borrowers.
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Refinance apps made up more than 40% of all mortgage applications last week, driving an uptick as consumers seek out cheaper mortgage payments.
July 2 -
The chairman and regulator of Fannie Mae and Freddie Mac pointed to Jermone Powell's recent testimony about renovations to the Federal Reserve's headquarters.
July 2 -
It's a rare theft of trade secrets complaint by the industry leader, which stayed out of the spate of litigation between competitors during the refinance boom.
July 2 -
Navy Federal Credit Union will not pay a $15 million fine or $80 million in restitution to service members who were illegally charged surprise overdraft fees when their accounts had sufficient funds.
July 2