Promontory MortgagePath LLC, Danbury, Conn., named Scott Turnquest as Chief Technology Officer and Jordan Higgins and Kim Joyce as Regional Vice Presidents.
Category: News and Trends
Bridge Over Troubled Water: Debt Funds and Mortgage REITs Come of Age During COVID-19
It can be challenging to raise capital for public companies involved in commercial real estate lending against a backdrop of falling stock prices. This has led to an inward focus on activities such as asset management and building liquidity for public mortgage REITs, making these market participants less active for new loan originations.
Dealmaker: JLL Secures $161M in Construction Financing
JLL Capital Markets, Chicago, arranged construction financing totaling $160.5 million to develop New Jersey and North Carolina multifamily properties.
MBA Advocacy Update
On Tuesday, the Federal Housing Finance Agency announced steps to limit the impact on both lenders and consumers of its newly issued 50-basis-point GSE Adverse Market Refinance Fee. Following two weeks of sustained MBA-led advocacy with its coalition partners, FHFA delayed the implementation date of the fee from September 1 to December 1.
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“The economic slowdown will force companies to scrutinize every dollar of their IT spending, but continued investment in mission-critical IT infrastructure like data centers and cloud services will be imperative to supporting business continuity and remote working.”
–Pat Lynch, Senior Managing Director of Data Center Solutions with CBRE, Los Angeles.
A Conversation with Scott Gesell, CEO of Gateway First Bank
Scott Gesell was recently appointed as CEO of Gateway First Bank, Tulsa, Okla. He has been an integral part of Gateway First Bank’s leadership since 2013. During his time at Gateway, he played a leading role in the merger of a 100-year-old community bank with a 20-year-old mortgage company to become Gateway First Bank.
Sponsored Content from Pavaso: Data Privacy and Working with eClosing Service Providers
Overlooking this factor when choosing an eClosing technology service provider could cost you.
Nate Johnson: 3 Ideas Toward a Fast, Efficient, Profitable Mortgage Operations Process
The U.S. real estate industry is in a volatile state – as much, if not more, than it was during the 2008 financial crisis. We are seeing some record numbers in the mortgage industry with rising foreclosures, really low interest rates, and shortage of inventory. This does seem to be a stable environment, though – but while things seem to fall in place at times, the next moment new factors disrupt the market environment. Here are three areas of turbulence in the mortgage industry.
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“The people with steady work-from-home jobs are able to move away from city centers, or even to entirely different parts of the country, and find more space for a similar price. But a lot of people searching for homes are in less advantageous financial situations and can’t afford more space even if they want it.”
–Daryl Fairweather, Chief Economist with Redfin, Seattle.
A Conversation with Scott Gesell, CEO of Gateway First Bank
Scott Gesell was recently appointed as CEO of Gateway First Bank, Tulsa, Okla. He has been an integral part of Gateway First Bank’s leadership since 2013. During his time at Gateway, he played a leading role in the merger of a 100-year-old community bank with a 20-year-old mortgage company to become Gateway First Bank.