article thumbnail

Wells Fargo sells most of its commercial mortgage servicing to Trimont

Housing Wire

Wells Fargo has agreed to sell most of its commercial mortgage servicing portfolio to Atlanta-based Trimont. The deal is expected to make Trimont the largest servicer of multifamily and commercial loans in the U.S. The transaction includes only Wells Fargo’s non-agency, third-party commercial mortgage servicing (CMS) business.

article thumbnail

REACH Commercial announces latest proptech class

Inman

The seven startups that are part of REACH Commercial's latest class each promise to advance the way commercial brokerages service the industry, ranging from a green building resource solution to a pro-small business engine to help entrepreneurs own their real estate.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Commercial market bottom nears as foreclosures surge

Inman

Portfolios of foreclosed and seized office buildings, apartments and other commercial buildings hit $20.5 billion during the second quarter of 2024, the highest quarterly figure posted since 2015, according to MSCI.

article thumbnail

FOA agrees to sell commercial lending business to Roc Capital

Housing Wire

Finance of America Companies (FOA) has entered into an agreement to sell the operational assets of its Finance of America Commercial vertical to Roc Capital Holdings LLC. The terms of the deal do not include the FOA commercial vertical’s financial assets, which are comprised of loans and securitizations, according to the 8K filing.

article thumbnail

NAR Announces Companies for 2024 REACH Commercial Program

RIS Media

Second Century Ventures, the strategic investment arm of the National Association of REALTORS®, has announced the acceptance of seven companies to the 2024 REACH Commercial program. This marks the sixth cohort dedicated to scaling solutions for commercial real estate.

article thumbnail

5 ways commercial and residential real estate can cooperate now

Inman

A brokerage with access to a commercial division, Troy Palmquist writes, experiences a whole new way of serving clients, adding value and creating professional synergies

article thumbnail

Commercial Real Estate Exposure Endangering Dozens of Banks

RIS Media

The commercial real estate industry is in a downturn and could wind up dragging down the financial sector with it, according to a new report from Florida Atlantic University (FAU). Due to the transition to remote work, commercial real estate holdings are falling in value. The root of the issue is the COVID-19 pandemic.