Johnson Capital, Irvine, Calif., has opened an office in New York City that will do commercial mortgage loan sales and syndication, with Daniel Lisser and William Nichols as managing directors and co-heads of the company.Mr. Lisser was previously head of the mortgage sales group at The Ackman-Ziff Real Estate Group, and Mr. Nichols was the president and founder of RE-Portal, according to Johnson Capital, a real estate investment advisory firm. They will both work on providing financial institutions with the right pricing for commercial mortgage loan portfolios in the secondary market, and liquidity for the loans. "There is a great demand by lenders and investors alike for more loan liquidity in the secondary market, especially outside of the CMBS conduits," said Guy Johnson, president of Johnson Capital.
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The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
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Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
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A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
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The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
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The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
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The top five producers had an average dollar volume of VA and USDA loans of more than $35 million in 2023.
April 24