SCI Capital Group, Los Angeles, has announced the closing of a mezzanine fund focused on the development and acquisition of real estate. The fund, SCICG Mezzanine Fund I LLC, received capital commitments exceeding its initial $10 million offering. The company said the fund will provide short-term secured loans to SCI affiliates for real estate development and the acquisition of developed real estate. SCI Capital can be found on the Web at http://www.scicapitalgroup.com.
Newly minted Federal Reserve Chair Kevin Warsh will host his inaugural press conference on Wednesday. Bankers will be paying close attention to what he says — and how he says it.
The Federal Housing Finance Agency's annual report to Congress asks for enforcement and referral powers beyond the limited ones it currently has.
The deal reinforces PennyMac's AI-focused pivot and will also accelerate development and growth of its proprietary servicing platform, the lender said.
Rithm and UWM Holdings are the favorite names among publicly traded lenders, while BTIG adds coverage of Better Home & Finance at a buy rating.
The deal offers a series of exchangeable, class A and B notes, which will pay coupons ranging from 6.00% on the A1 tranche to 5.00% on the A33 tranche.
This industry executive finds subservicing mortgages impacted by rule changes and relatively higher delinquency rates helps test operations and keep them sharp.
