Four industry leaders, including a former federal housing commissioner and a Freddie Mac executive, have been named to the advisory board of Pembrook Capital Management, a New York-based real estate investment management company recently founded by Stuart J. Boesky.The newly appointed board members are: Nicolas P. Retsinas, a former federal housing commissioner and former director of the Office of Thrift Supervision who is now director of Harvard University's Joint Center for Housing Studies; Adrian B. Corbiere, a senior vice president of Freddie Mac; Lewis A. "Lee" Sachs, a partner of Mariner Investment Group; and Denise L. Kiley, a former managing trustee and former chief credit officer of CharterMac, where Mr. Boesky was formerly chief executive officer. Pembrook provides capital to developers and owners of commercial real estate through the acquisition or origination of real estate debt and preferred equity. It can be found online at http://www.pembrookgroup.com.
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Mike Kortas will be adding a separate mortgage servicing company and hiring NEXA loan officers to assist with the process and give them customer insights.
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The latest government-sponsored enterprise changes include a more flexible sampling and a longer maximum term for some manufactured housing loans, respectively.
April 6 -
The product preserves borrower's first mortgage, and its potentially lower mortgage rate, without requiring the new monthly payments of a traditional HELOC, FOA says.
April 6 -
The White House's proposed 2027 budget would slash funding to the Community Development Financial Institutions Fund, the latest in an ongoing campaign from the Trump administration to dismantle the politically popular program.
April 6 -
Mortgage rates rising nearly 40 basis points from early-year lows have pushed some buyers out of the market, even as inventory and affordability remain better than a year ago, ICE Mortgage Technology found.
April 6 -
Lawsuits and probes are ramping up, and some courts have broadened the lending law's statute of limitations, said Bradley Partner Jonathan Kolodziej.
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