Mission Capital Advisors, New York, is accepting bids on behalf of an unnamed seller for all or part of a more than $260 million distressed commercial mortgage portfolio. The properties collateralizing the nonperforming and subperforming loans are in Florida, Georgia, Nevada, Arizona and California. Among the collateral property types are multifamily, condo-conversion, retail, office, single-family residential, residential development land, marinas, a restaurant and an auto dealership. Mission Capital can be found online at http://www.missioncap.com.
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New York Life's investment arm is buying a majority stake in Verus' parent, as higher rates draw insurers to non-QM. Lenders should expect deeper-pocketed buyers and competition.
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The agreement expands the top-5 bank servicer's relationship with the technology company, claiming it brings its full portfolio to the MSP platform.
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The typical mortgage company is well behind the average fintech, insurance company and bank in terms of AI development and maturity, according to a new survey.
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Federal Reserve Gov. Michael Barr said artificial intelligence has not yet had a material impact on the labor market, but governments and businesses should be prepared nonetheless.
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DRB Group is partnering with Acrisure Mortgage and Alta Home Lending to start two mortgage joint ventures set to open in January 2027, the company announced.
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Servicers may need to use some of their less common risk management tactics rather than solely relying on borrowers holding significant equity, Andy Walden said.
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