Cleveland-based KeyCorp has agreed to acquire Malone Mortgage Co., Dallas, which it says will expand its ability to provide Federal Housing Administration financing to commercial real estate developers.The terms of the transaction were not disclosed. Malone Mortgage originates, underwriters, and services multifamily FHA loans nationwide for new construction, acquisition, and the refinancing of existing facilities, KeyCorp said. The company said its commercial real estate line of business, KeyBank Real Estate Capital, boasts nearly $19 billion in annual financings and ranks in the top 10 FHA servicers in the United States. Malone Mortgage's annual financings total about $200 million, and its commercial mortgage loan servicing portfolio stands at approximately $1.2 billion, KeyCorp reported. The company can be found online at http://www.key.com.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A labor shortage is costing the market tens of thousands of new homes per year, and tariff uncertainty is adding thousands of dollars in expenses per unit.
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The pace of revenue growth slowed toward the end of 2024, with the trend continuing into the first three months of this year, NAHB reported.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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The 10 basis point decline in the 30-year fixed mortgage was the most since March and the first time rates are below 6.7% since April, Freddie Mac said.
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The firm, now going by Fairway Home Mortgage, said the change is a representation of plans to create a "connected ecosystem."
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