Desert Capital REIT Inc., Henderson, Nev., has announced the acquisition of the final 22% of Consolidated Mortgage LLC, a private trust deed investment firm also based in Henderson.Desert Capital noted that it first announced the acquisition in November 2004 with an initial purchase of 25% of the outstanding equity, and bought an additional 23% in January, 11% in April, and 19% in July. The installment payments totaled $9 million in cash plus 450,000 shares of Desert Capital common stock, the real estate investment trust reported. The REIT can be found online at http://www.desertcapitalreit.com.
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McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
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The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
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The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18 -
In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
April 18 -
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18