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.
-
The Community Home Lenders of America and the Community Associations Institute want the FHA to insure loans on condos approved by Fannie Mae and Freddie Mac.
September 17 -
The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
September 17 -
Most lenders said they had already priced in the widely-anticipated decision to cut short-term rates for 30-year home loans but other products will benefit.
September 17 -
The deal for the Class A office building owner will be funded from Rithm's cash as well as liquidity on the balance sheets, plus possible co-investors.
September 17 -
Mortgage applications saw a significant jump for the second consecutive week, as homeowners took advantage of plummeting rates, the MBA said.
September 17 -
The government-sponsored enterprise is making changes to mortgage-backed securities and servicing disclosure files to support use of the advanced credit score.
September 17