Metropolitan Funding Corp., a New York-based HUD/FHA lender, has formed a commercial real estate lending platform called Metrofund Group in joint venture with Sagecrest, a Greenwich, Conn.-based hedge fund, and Merchant Equity Group.The venture has arranged $160 million in initial capital and will provide bridge, transitional and mezzanine loans, Merchant Equity Group, a New York-based developer, reports. Hadley Bressman, president, Metropolitan, said that he believes the venture "will enable us to grow quickly and take advantage of the more difficult economic environment in 2007." James Kerner, who has considerable Wall Street experience with some investment banks, will be the COO of Metrofund Group. Most recently, he was chief underwriter for Nomura Securities' real estate division, according to Merchant Equity.
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In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
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Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
March 27 -
The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
March 27 -
The lender accused its former leader of compromising its Fannie Mae seller/servicer number to prevent it from delivering loans.
March 27 -
Equity is entitled to a little over $70,000 worth of damages.
March 27 -
Audited financials, proof of fidelity bonds and errors and omissions insurance must be provided on Ginnie Mae Central after May 13.
March 27