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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.

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Opinion: Why aren’t more commercial brokerages seeking affiliated arrangements?

Housing Wire

So why aren’t more commercial real estate (CRE) entities – investors , principals, banks, law firms or developers – seeking the same? Market conditions have certainly trended downward for residential or commercial real estate. CRE firms are also suffering through the highest interest rates seen in years.

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Rithm Capital closes deal with Great Ajax

Housing Wire

Rithm Capital , the parent company of multichannel lender Newrez , announced on Tuesday that it has closed a transaction with Great Ajax Corp. Meanwhile, Great Ajax is transitioning from a legacy residential loan platform to a vehicle focused on commercial real estate. which resulted in the purchase of 2.9

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Chase Home Lending increases its closing guarantee

Housing Wire

Chase Home Lending , the consumer and commercial banking arm of JPMorgan Chase & Co. , has raised its closing guarantee from $5,000 to $20,000 until July 27, 2024, the bank announced on Thursday. This grant can be used to discount underwriting fees paid at closing, or to reduce the interest rate and down payment.

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

Housing Wire

Federal Reserve Chair Jerome Powell indicated in recent congressional testimony that interest rate hikes are now likely at the “ peak for the current tightening cycle ,” after signaling in November of last year that the Fed was close to the end of its war on inflation. My guess is we’ll do 10 or 11 deals this year in the $5.5

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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.

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Stewart Louisiana expands support for commercial title, hires underwriting counsel

Housing Wire

Stewart Title of Louisiana is expanding its support for commercial real estate transactions, through the addition of Ashley Coco as the firm’s Louisiana underwriting counsel, it announced Tuesday. Before joining Stewart, Coco was the lead attorney heading the commercial services department of Commerce Title in Baton Rouge.

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