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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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JPMorgan Chase to acquire First Republic Bank

Housing Wire

Less than two months after the abrupt failures of Silicon Valley Bank and Signature Bank , federal regulators seized First Republic Bank and sold it to JPMorgan Chase Bank. First Republic is the largest lender to collapse since the 2008 financial crisis and the second-largest bank failure in American history.

Banks 397
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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. A former CEO of OneWest Bank from 2010 and 2015, Otting will become the CEO of NYCB, replacing Alessandro DiNello, who has held the position since Thomas Cangemi stepped down earlier this week.

Equity 438
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Former Caliber CEO Sanjiv Vas joins Two Harbors board

Housing Wire

He oversees the strategy and growth of Pagaya’s commercial business – including its single-family rental business and its subsidiary Darwin Homes. a KKR -owned company; Citibank ’s mortgage division; Morgan Stanley ; American Express ; and Bank of America. Before joining Pagaya, Vas was CEO of Caliber Home Loans.

Principal 444
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Snapshot of lenders’ Q1 earnings: Profitable players leverage servicing portfolio against origination drop

Housing Wire

As banks and non-bank lenders recently released earnings for the first quarter of 2022, two things became clear: Origination volume plummeted across the board, but those that managed to muster up a good quarter benefited from servicing portfolios. Two of the nation’s largest banks, JPMorgan Chase and Wells Fargo & Co.

Principal 397
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“It’s ridiculous”: Real estate industry opposes newly proposed cash-deal reporting rules

Housing Wire

As the principal broker for a RE/MAX franchise in coastal Cannon Beach, Oregon, Alaina Giguiere’s typical responsibilities include marketing homes for sellers, touring homes with buyers, generating new business leads, managing client relationships, and drafting and reviewing contracts with buyers and sellers.

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No sign of relief in housing even as the Fed holds rates steady 

Housing Wire

While Fed Chair Jerome Powell emphasized incoming data will determine whether the central bank will raise its federal funds rate at its next FOMC meeting in November, the “dot-plot” of rate projections showed policymakers foresee one more hike by the year-end. Therefore, the Fed needs to wait and not raise rates.

Banks 448