Category: Top National News

Stonegate Mortgage announced Richard Kraemer has been named interim CEO of the company. Mr. Kraemer is replacing Jim Cutillo, who has resigned from the company effective September 10.

Marketplace lenders–which are also known as peer-to-peer or alternative lenders – have focused on facilitating loans to underserved niches within both the residential and commercial sectors. It’s an approach that, at least for now, seeks to co-exist with, rather than supplant, the traditional mortgage market.

Speculation that a pro-investor settlement looms in the Fannie Mae and Freddie Mac cases has driven shares sharply higher. This is wishful thinking.

More signs calling out banks that are being bad neighbors will be going up this week. State Assemblyman Michael Kearns says he started the “shame campaign” to expose lenders that foreclose on homes and let them rot for years. Kearns says banks are dragging down communities and leaving taxpayers holding the bag.

The sudden collapse in the Shanghai Composite and the devaluation of the yuan in the past month have led some to worry that it could cause trouble for the U.S. real estate. But those who follow the market closely see potential capital flows from the turmoil in China to the relative safety of American property.

Local banks in search of bigger returns are rushing to grab a slice of Boston’s soaring commercial real estate market, lending at a pace not seen since the boom of the late 1980s and raising concerns among bankers and analysts that another bubble is in the making.

First American’s Loan Application Defect Index for July found that loan application defects rose 4.9% from June to July, rising to the second highest total of the year.

The single-family housing market is on track to have a very good year, according to Freddie Mac’s Insight & Outlook for August. However, it also notes, the issue of overheated property valuations is always lingering in the background.

With the right lending recipe, these loans can beat default rates of other loan types.

New York’s first real estate project financed significantly though crowdfunding is set to open, a step forward for a nascent investing model that has yet to prove itself in commercial property.