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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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How High Interest Rates Are Changing Commercial Property Lending

Propmodo

This has been a perfect storm for the commercial real estate lending industry. Falling property prices and liquidity fears are causing banks to slow or stop lending on commercial properties. All of this combined to push commercial lending to a standstill.

Lending 113
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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. Bolstered by its 2022 acquisition of Homepoint ’s delegated correspondent channel, Planet originated $13.9

Lending 404
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M&T RCC’s Christine Chandler nominated as MBA vice chair for 2024

Housing Wire

“Christine is a passionate and influential leader in real estate finance and is a terrific choice to lead MBA and its members through the challenges and opportunities our industry faces,” said Matt Rocco , the 2023 MBA chairman and president of Colliers Mortgage.

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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. billion in fully funded cash proceeds from the global investment firm Atlas SP Partners through a new senior asset-backed financing facility. The company secured $1.4

Banks 396
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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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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