New England Realty Resources, a Boston-based company founded by James M. Murphy, has banded together with 11 other companies to form a company called Q10, Mr. Murphy told attendees at the MBA's commercial real estate finance/multifamily housing convention in Orlando.Q10, a commercial mortgage lender and servicer with 18 offices nationwide, is looking to have a presence in the 35 largest U.S. metropolitan markets, Mr. Murphy told MortgageWire, and is looking for independent owners to partner with for this purpose. Q10 has a $9.1 billion servicing portfolio and did about $4.5 billion in loan production last year, according to Mr. Murphy, a former president of the MBA. The company provides financing for first and second mortgages, mezzanine loans, joint ventures, and commercial mortgage-backed securities. Mr. Murphy told convention attendees that "the back-end of CMBS is broken" and that the CMBS industry is hurting itself by developing a "bidding frenzy for servicing rights."
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25