Stephen Budorick, Paul Layne, and Douglas Winshall have been promoted to executive vice presidents at Trizec Properties Inc., a Chicago-based real estate investment trust.Mr. Budorick, based in Chicago, has held overall management responsibilities since 1998 for Trizec's 15 million-square-foot portfolio of properties in the company's Central Region. Mr. Layne, based in Houston, has overseen the REIT's 16 million-square-foot portfolio in the Western Region, chiefly in Texas and California. Mr. Winshall, based in New York, has exercised responsibility over Trizec's 15 million-square-foot portfolio in the Eastern Region, which includes New York and metropolitan Washington, D.C. The REIT said the trio, previously senior vice presidents, will retain their current regional responsibilities. Trizec can be found on the Web at http://www.trz.com.
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After home equity surged in 2023, average gains slowed last year before falling into negative territory over the past 12 months, Cotality said.
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For 2026, the mortgage industry operating environment will improve, while nonbank financial metrics should be within Fitch's rating criteria sensitivities.
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Rohit Chopra is named senior advisor to the Democratic Attorneys General Association's working group on consumer protection and affordability; Flagstar Bank adds additional wealth-planning capabilities to its private banking division; Chime promotes three members of its executive leadership team; and more in this week's banking news roundup.
December 12 -
The executive order described state legislation on artificial intelligence as a cumbersome patchwork, and pledged to develop a national framework.
December 12 -
The Department of Housing and Urban Development announced the FHA-insured loan caps for low- and high-cost areas, which are set based on conforming loan limits.
December 12 -
Kansas City Federal Reserve President Jeffrey Schmid and Chicago Fed President Austan Goolsbee said in statements Friday that their dissents from this week's interest rate decision were spurred by inflation concerns and a lack of sufficient economic data.
December 12





