article thumbnail

Pennymac shakes up tech leadership

Housing Wire

The California-based lender and servicer promoted Jim Follette to chief digital officer, a new role to pursue opportunities in digital innovations, commercial markets and solutions for homeowners. It produced $99 billion in unpaid principal balance (UPB) in 2023. Founded in 2008, Pennymac employs about 3,900 people nationwide.

article thumbnail

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. Its owned servicing portfolio reached $78 billion in unpaid principal value (UPB) at the end of 2023, with a carrying value of $1.1 billion goodwill impairment. billion, according to the KBW analysts.

Equity 373
Insiders

Sign Up for our Newsletter

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

article thumbnail

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.

article thumbnail

Big investors are buying up more commercial real estate

Realty Biz

And that’s exactly what investors are betting on, causing prices to rise in the commercial real estate market as they snap up long-vacant office buildings in anticipation of demand. As a result, commercial real estate prices have risen by 7% on average since July. The Dallas-based travel technology firm Sabre Corp.

article thumbnail

New Development Spotlight: ESCALA in the Principality of Andorra

Sotheby's International Real Estate

The Principality of Andorra | Andreu Cañadas , Andorra Sotheby’s International Realty. Located in the incomparable natural setting of Sant Miquel d’Engolasters, this exclusive 13-penthouse-unit new development named ESCALA defines the discreet luxury lifestyle in the Principality of Andorra.

article thumbnail

FAR parent updates investors on AAG integration, business performance

Housing Wire

Following the wind down of its forward mortgage business and sales of non-reverse segments including Lender Services, Commercial Originations and Home Improvement, FOA is focused solely on the reverse mortgage market,” the company said. The Company has substantially completed its exit from all non-core businesses at the end of Q1’24.”

Investor 418
article thumbnail

Private-label securities are in demand as investors bet Fed peak is reached

Housing Wire

Michael Warden , managing principal and CEO of Invictus Capital Partners — one of the largest players in the nonqualified mortgage (or private-label) securitization space via Verus Securitization Trust — is also quite bullish on the future of private capital in the mortgage market.

Investor 413