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Built Technologies closes $88 million Series C funding round

Housing Wire

Multi-year HousingWire Tech100 winner Built Technologies , a construction finance software and construction payment technology company, closed an $88 million Series C funding round. Modern construction finance requires new infrastructure altogether. and Canada. and Canada.

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Planet Home Lending adds new regional sales manager

Housing Wire

Adding his leadership skills will be beneficial at a time when Planet is looking to differentiate itself with various purchase loan products, one-time-close construction loans and other niche programs, the company stated.

Lending 420
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One Small Bank Keeps Financing Construction Despite Rate Hikes

Propmodo

When seeking construction financing for major real estate projects, developers almost always turn to big banks. Large institutional capital has been one of the biggest lenders to commercial development projects over the past decades. In 2019, the bank inked one of its biggest deals. percent from the third quarter of 2022.

Banks 67
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First Internet Bank is shuttering its consumer mortgage business

Housing Wire

It will also include the company’s local traditional consumer mortgage and construction-to-permanent businesses. Claiming to be the first state-chartered, Federal Deposit Insurance Corporation -insured (FDIC) institution to operate entirely online, the bank combines nationwide consumer, small business and commercial deposit base.

Banks 421
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Indie brokerage Nationwide Real Estate Executives joins eXp Realty

Housing Wire

In 2022, his team closed $887 million in sales on 1,091 transactions, with an average home price of $740,000, eXp said in a statement Wednesday. In addition to the brokerage, Owen also owns a property management company, an escrow firm, a commercial real estate arm and a design-and-construction firm.

Brokerage 370
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M&T RCC’s Christine Chandler nominated as MBA vice chair for 2024

Housing Wire

” Chandler brings to the role more than 30 years of experience in commercial real estate finance, having been with M&T since 1991. She also worked as a senior Fannie Mae DUS underwriter and held various roles managing the closing and delivery for FHA and Ginnie Mae transactions.

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Pacific Western Bank gets $1.4B from Atlas after 20% decline in deposits

Housing Wire

The current bank crisis hit California-based Pacific Western Bank , a community bank owned by PacWest Bancorp that has a focus on real estate and commercial loans. from the previous closing. “We PacWest Bancorp’s shares were trading at $10.94 on Wednesday afternoon, down 10.4% billion in the fourth quarter of 2022.

Banks 397