Navidec Financial Services Inc., Denver, has announced the formation of a wholesale mortgage lending company for correspondent mortgage banks in the West. The new company, Jaguar Investment Group LLC, was formed by Navidec affiliate Northsight Inc. in conjunction with Jaguar Group LLC. Each will contribute $400,000 in capital in exchange for 50% membership interests in the company, Navidec said. "We are seeing one of the greatest dislocations in U.S. residential real estate history," said Navidec president John McKowen. "That dislocation has created illiquidity for financial institutions and correspondingly exceptional values for homebuyers and real estate investors."
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
4h ago -
Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.
5h ago -
McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
6h ago -
The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
8h ago -
The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
8h ago -
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18