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NYCB, a struggling $78B resi mortgage servicer, to receive $1B equity investment

Housing Wire

The move strengthens the bank’s balance sheet amid a confidence crisis related to its commercial real estate loan portfolio. A former CEO of OneWest Bank from 2010 and 2015, Otting will become the CEO of NYCB, replacing Alessandro DiNello, who has held the position since Thomas Cangemi stepped down earlier this week.

Equity 416
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Pennymac increases profits to $58M in Q2

Housing Wire

billion in unpaid principal balance (UPB) as of June 30, up 2% from March 31. Throughout the quarter, Pennymac increased the number of approved correspondent seller relationships to 800, attracting sellers who had connections with commercial banks that pulled back from or recently exited the channel.

Banks 369
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Compass Appoints Dawanna Williams, Founder and Managing Principal of Dabar Development Partners, to Board of Directors

Realty Biz

Williams currently serves as Founder and Managing Principal of Dabar Development Partners. Dawanna Williams is the Founder and Managing Principal of Dabar Development Partners – a real estate development firm that offers modern living solutions with intelligent planning, architectural ingenuity, and environmental integrity.

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Announcing the 2023 HW Insiders!

Housing Wire

Name Job Title Company Name Aaron Kardell Vice President of Product Lone Wolf Technologies Aayaam Kapoor Vice President of Product and Agency Real Estate Webmasters Amaly Quiroz Vice President of Transaction Operations eXp Realty Amy Gorce CEO REdistribute Andrew Binkley President Constellation Real Estate Group Ankur Bansal President of HomeLight (..)

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What should lenders look for in servicing solutions?

Housing Wire

At the same time, those options trigger specific additional requirements from investors, including reporting principal and interest collection activity, drafting funds due to the investor, resolving any reporting or drafting discrepancies, and reconciling custodial accounts. Includes web applications.

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Opinion: Why aren’t more commercial brokerages seeking affiliated arrangements?

Housing Wire

So why aren’t more commercial real estate (CRE) entities – investors , principals, banks, law firms or developers – seeking the same? Market conditions have certainly trended downward for residential or commercial real estate. CRE firms are also suffering through the highest interest rates seen in years.

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A Brief Guide to CMB Securities

Realty Biz

Commercial mortgage-backed securities (also known as CMBS) are a type of fixed-income security forming 2% of the fixed-income market. These are financial investment products on commercial properties, as opposed to residential realty. Segments These bonds are composed of underlying loans, usually contained within trusts.