Fannie Mae is off to steady start on its path toward issuing $15 billion in notes this year through its Connecticut Avenue Securities (CAS) real estate mortgage investment conduit, or REMIC. The agency is about to unveil its third deal this year through its CAS credit-risk transfer vehicle. The March offering, CAS Series 2022-R03, involves […more]
Purchased for $3.75 million in July of 2019, the 2,053-square-foot, three-bedroom unit #3501 in The Avery at 488 Folsom Street features “an extra wide open floor plan that creates a light-filled, airy and elegant lifestyle,” with expansive views, three full bathrooms and parking in the tower’s garage. Having returned to the market priced at […more]
Most title business owners dream of the day they can sell the firm they’ve built for the maximum multiple. Others look forward to building their brands with strategic acquisitions when the timing is right. Here are some tips and pointers on crossing that finish line with maximum results. Although it might be their dream to […more]
Tomo, a fintech startup focused on the purchase mortgage sector, announced raising a $40 million Series A led by SVB Capital, according to a press release shared with FinLedger. The fundraise more than doubles Tomo’s valuation to $640 million. It included participation from existing investors Ribbit Capital, NFX and Zigg Capital. New investors Telesoft Partners […more]
Photo credit: Michael Appleton/Mayoral Photography Office on Flickr New York City officials are working to bolster fire safety in the wake of the devasting Bronx apartment fire in January that killed 17 people. Mayor Eric Adams on Sunday signed an executive order that aims to improve coordination between the city’s Fire Department and inspectors from the Department of Housing Preservation and Development […more]
When cousins Sonny and Al Gindi opened Century 21’s flagship location in 1961, they quickly learned they were onto something. The Bay Ridge department store gained popularity seemingly overnight due to its affordable pricing, and the Gindi family went on to open a dozen other locations — and expand its… Read More > The post […more]
During the Great Recession, “zombie foreclosures” were a thorn in the side of servicers. With no money to pay their mortgages, some underwater borrowers simply abandoned their homes. When the Covid-19 pandemic began in March 2020, zombie foreclosures were one of the housing industry’s greatest fears. In August 2021, the Consumer Financial Protection Bureau (CFPB) […more]
In the News Mortgage Rates Hit 4 Percent for the First Time in Three Years [NYT] EPA Adds Greenpoint’s Meeker Avenue Plume to Superfund List [Eagle] Fighting Food Insecurity at a Bushwick School [BK Reader] Greenpoint Church Raising Money to Fix Walk-in Fridge [Greenpointers] Word Bookstore Celebrates 15 Years in Greenpoint [Greenpointers] DOT to Install […more]
Most real estate professionals understand that the Real Estate Settlement and Procedures Act (RESPA) was created keeping customers in mind. The Consumer Financial Protection Bureau (CFPB) is in charge of enforcing RESPA, preventing bribes, limiting the usage of escrow accounts, and removing abusive activities in the real estate settlement process. RESPA has strict rules for […more]
Rendering courtesy of the NYC Department of Housing Preservation and Development Fifty low-income units are available at a new residential building in Downtown Brooklyn. Located at 50 Nevins Street, the two-building project was developed by the Institute for Community Living and designed by Dattner Architects. New Yorkers earning 60 percent of the area median income, or between […more]