JER Investors Trust Inc., a McLean, Va.-based company that originates and acquires commercial real estate structured finance products, and JER Partners have announced the closing of a $220 million private equity fund that will invest in loans secured directly or indirectly by real estate.The fund will invest in B-notes, mezzanine loans, whole mortgage loans, preferred equity, commercial mortgage-backed securities, and CMBS-related products. However, nonperforming loans and single-family residential debt and mortgages are outside the scope of the targeted investments, the companies said. Both companies will receive management fees and a percentage of aggregate profits. JER Investors and JER Partners, the private equity arm of J.E. Robert Cos., can be found on the Web at http://www.jer.com.
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A federal judge in Texas dismissed the Consumer Financial Protection Bureau's medical debt rule and prohibited states from passing their own laws prohibiting medical debt on credit reports.
6h ago -
Dr. Mark Calabria takes on the additional role of chief statistician of the United States; retired Ally Bank executive Diane Morais has joined First Citizens Bancshares' board of directors; MainStreet Bank has promoted Alex Vari to chief financial officer; and more in this week's banking news roundup.
9h ago -
While refinances are behind the latest increases, the pace of purchase activity may be a stronger indicator of where the housing market sits.
11h ago -
The share of economists expecting a September rate reduction grew in the July Wolters Kluwer survey, but the October or later percentage also increased.
11h ago -
Rising home prices and softening sales offer a mixed view of a market that some say is shifting to favor buyers.
11h ago -
The notes are backed by home improvement installment loans originated by approved dealers in Foundation Finance Company's network.
July 11