Ostara Corp., Wernersville, Pa., has announced an agreement with Sunset Commercial Group, a subsidiary of Franklin Center, Pa.-based Sunset Mortgage Co., under which Ostara and a subsidiary will be able to use and offer short-term commercial bridge loans.Ostara said the bridge loans will vary in size from $1 million to $15 million on a project-by-project basis. The Ostara subsidiary involved in the arrangement is Mountain Top Associates Inc., the company's real estate arm. The relationship with Sunset "is expected to add significantly to the size and number of commercial real estate projects that Ostara participates in," the company said. Alfonso C. Knoll, Ostara's chief executive, said Sunset's size and its affiliation with Sunset Mortgage "add a significant capital source for our undervalued real estate projects." The companies can be found online at http://www.ostaracorp.com and http://www.sunsetmortgage.com.
-
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
39m ago -
The top five producers had an average dollar volume of VA and USDA loans of more than $35 million in 2023.
2h ago -
While income decreased from the fourth quarter, it accelerated on an annual basis across NVR's building and lending units.
9h ago -
Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
10h ago -
Prevention through new building standards and mapping technology aim to keep home insurance rates down but mortgage bankers see challenges.
April 23 -
The mortgage lender and servicer announced that Ranjit Bhattacharjee, a capital markets veteran, and Kevin Barker, a financial analyst with two decades of experience, have joined its ranks.
April 23