Spencer Haber, president of New York-based iStar Financial, has been named president and a director of iStar Strategic Capital Inc., a wholly owned subsidiary of iStar Financial, effective March 31.In that capacity, Mr. Haber will be responsible for evaluating new business expansion and business development opportunities for iStar Financial, the company said. Upon becoming president of iStar Strategic, Mr. Haber will step down as president and director of iStar Financial. The parent company, which provides structured financing to private and corporate owners of real estate nationwide, can be found online at http://www.istarfinancial.com.
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Retail lender Rate separately launched yet another non-mortgage brand, with outdoor saunas and other furnishings following a high-end performance wear line.
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June purchase demand strengthened, refinances remained steady and pull-through improved, reversing May losses.
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The move is designed to align the two Utah-based businesses under a single unique name and comes two years after the bank acquired the home lender in 2024.
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Federal Reserve Bank of Dallas President Lorie Logan said at an event Thursday that conducting monetary policy actions through a third party would improve efficiency and make markets stronger.
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The Rithm subsidiary plans to reduce its involvement in decentralized operations through an agreement with the American Pacific Mortgage affiliate.
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A week after falling to its lowest point since mid-May, the 30-year fixed rate mortgage turned higher as the 10-year Treasury rose 15 basis points since June.
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