Hometown Commercial Capital, Burlingame, Calif., has announced the formation of a joint venture with Belvedere Capital Partners aimed at extending nationally Hometown's community bank lending programs for commercial real estate investors.William G. Fisher has been named chief executive officer of the new firm. Mr. Fisher was previously an executive vice president at Wells Fargo and was more recently the founder and CEO of an unnamed financial services start-up firm, the company said.
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Issuances of new HECM-backed securities dropped off in June on both a monthly and yearly basis, according to a new report from New View Advisors.
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The vote to approve the $12 per share deal, which rejected a hostile bid from UWM Holdings, came following several postponements of a special meeting.
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A mortgage customer claims his data was compromised in a hack last year at a tax and accounting firm reportedly used by the wholesale giant.
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The government-sponsored enterprise clamped down on project review requirements and certain factory-built home appraisals while loosening other guidelines.
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The June jobs report is creating an overhang on economist forecasts for interest rates going forward, especially when combined with recent inflation data.
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The Bureau of Labor Statistics report showed the labor force continued to expand but at a weaker rate than in recent months. The development weakens the case for a near-term rate hike.
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