Loans

Grandmother Achieves 20-Year Dream of Purchasing First Home

Retrieved on: 
Wednesday, July 28, 2021
Professional services, Philanthropy, Residential Building & Real Estate, Other Philanthropy, Construction & Property, Banking, Loans, Mortgage loan, I (Almost) Got Away With It, Professional services, Philanthropy, Residential Building & Real Estate, Other Philanthropy, Construction & Property, Banking, Loans, Mortgage loan, I (Almost) Got Away With It, Red River Bank, the Federal Home Loan Bank of Dallas, RED RIVER BANK, THE FEDERAL HOME LOAN BANK OF DALLAS

She rented several apartment units over the years, with each one lacking a backyard, preventing her from enjoying her hobbies.

Key Points: 
  • She rented several apartment units over the years, with each one lacking a backyard, preventing her from enjoying her hobbies.
  • (Photo: Business Wire)
    I love going outside to enjoy the weather and to garden, Ms. Chiem said.
  • Ive wanted a house for so long, and I finally reached my dream of 20 years.
  • Rebecca Daniels, assistant vice president and mortgage originator at Red River Bank, helped Ms. Chiem with her mortgage application.

KBRA Assigns Preliminary Ratings to Greystone 2021-FL3

Retrieved on: 
Tuesday, July 27, 2021
Professional services, Finance, Money, Finance, Economy, Loans, Credit, Collateral, Liability

Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to eight classes of Greystone 2021-FL3, a $900.0 million managed CRE CLO with the ability to reinvest principal proceeds for 36 months, which includes a six-month ramp-up period.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to eight classes of Greystone 2021-FL3, a $900.0 million managed CRE CLO with the ability to reinvest principal proceeds for 36 months, which includes a six-month ramp-up period.
  • The transaction will initially be collateralized by 29 whole loans (or participations therein) with an in-trust balance of $722.8 million and $177.2 million of cash collateral.
  • At the end of the ramp-up period, any unused proceeds will be applied as principal proceeds to pay down the notes sequentially.
  • Additionally, the transaction includes a feature which provides the sponsor with the ability to effectuate significant modifications to performing loans.

Granite Point Mortgage Trust Inc. Announces Dates for Second Quarter 2021 Earnings Release and Conference Call

Retrieved on: 
Tuesday, July 27, 2021
Finance, Banking, Professional services, Commercial Building & Real Estate, Construction & Property, Loans, Mortgage loan, Finance, Money, Mortgage industry of the United States, Mortgage-backed security, United States housing bubble, Structured finance, Economy

Granite Point Mortgage Trust Inc. (NYSE: GPMT) (GPMT, Granite Point or the Company) today announced that it will release financial results for the quarter ended June 30, 2021 after market close on August 9, 2021.

Key Points: 
  • Granite Point Mortgage Trust Inc. (NYSE: GPMT) (GPMT, Granite Point or the Company) today announced that it will release financial results for the quarter ended June 30, 2021 after market close on August 9, 2021.
  • The Company will host a conference call to review the financial results on August 10, 2021, at 10:00 a.m.
  • To participate in the teleconference, approximately 10 minutes prior to the above start time please call toll-free (833) 255-2835, (or (412) 902-6769 for international callers), and ask to be joined into the Granite Point Mortgage Trust Inc. call.
  • Granite Point Mortgage Trust Inc. is a Maryland corporation focused on directly originating, investing in and managing senior floating rate commercial mortgage loans and other debt and debt-like commercial real estate investments.

Newrez Adds New ARM Options to Dream Big, Non-QM Product Suites

Retrieved on: 
Tuesday, July 27, 2021
Professional services, Other Professional Services, Other Construction & Property, Residential Building & Real Estate, Finance, Construction & Property, Banking, Finance, Money, Financial services, Mortgage, Loans, Adjustable-rate mortgage, Banking, Mortgage loan, Super jumbo mortgage, Mortgage broker

Newrez LLC (Newrez, the Company), a national mortgage lending and servicing organization, continues to enhance its Dream Big and non-qualified mortgage (Non-QM) product suites with the launch of new adjustable-rate mortgage (ARM) loan products.

Key Points: 
  • Newrez LLC (Newrez, the Company), a national mortgage lending and servicing organization, continues to enhance its Dream Big and non-qualified mortgage (Non-QM) product suites with the launch of new adjustable-rate mortgage (ARM) loan products.
  • The debut of ARMs marks another Smart Move by Newrez to further expand its lending solution options and product sets.
  • Available as five, seven and ten-year ARM options, the new loan products are now offered across the Companys Direct to Consumer, Joint Venture and Wholesale lending channels as part of Newrezs Dream Big product suite.
  • For qualifying borrowers with strong credit, reserves, and disposable income, the Dream Big ARMs options will offer more flexible financing solutions.

Paragon Mortgage Provides $53.4 Million New Construction Loan for Multifamily Property in Colorado Springs, CO

Retrieved on: 
Tuesday, July 27, 2021
Professional services, Other Construction & Property, Residential Building & Real Estate, Finance, Construction & Property, Banking, Mortgage industry of the United States, Finance, Money, Loans, Mortgage, Economy, Public housing in the United States, United States Department of Housing and Urban Development, Urban planning in the United States, Refinancing, Mortgage loan, Federal Housing Administration

Paragon Mortgage recently provided a $53.4 million new construction HUD 221(d)(4) loan for a 236-unit multifamily project in Colorado Springs, CO - in an entertainment district anchored by the Broadmoor World Arena - a vibrant multifamily real estate market.

Key Points: 
  • Paragon Mortgage recently provided a $53.4 million new construction HUD 221(d)(4) loan for a 236-unit multifamily project in Colorado Springs, CO - in an entertainment district anchored by the Broadmoor World Arena - a vibrant multifamily real estate market.
  • View the full release here: https://www.businesswire.com/news/home/20210727005351/en/
    Paragon Mortgage Arranges $53.4M HUD 221(d)(4) New Construction Loan for Eldorado Springs Apartments in Colorado Springs, CO (Graphic: Business Wire)
    This HUD-insured financing provides for a combined construction and permanent loan for Market Rate multifamily projects.
  • Paragon Mortgage Corporation is an FHA, HUD MAP and LEAN approved mortgage lender solely focused on HUD-insured financing for over 34 years.
  • Paragon Mortgage specializes in FHA Insurance loans for a variety of project types Refinancing and Acquisition financing for market rate, affordable Multi-Family and Healthcare.

Fintech Startup Landis Closes on $165M Fundraise to Help Americans Become Homeowners

Retrieved on: 
Tuesday, July 27, 2021
Professional services, Data management, Other Professional Services, Technology, Other Technology, Finance, Consulting, Economy, Loans, Mortgage loan, Debt, Real estate agent

The company also helps real estate agents nationwide as the agents who refer clients to Landis represent Landis when the company buys a home for the client.

Key Points: 
  • The company also helps real estate agents nationwide as the agents who refer clients to Landis represent Landis when the company buys a home for the client.
  • Landis typical client is a prospective homeowner who is unable to get a mortgage due to credit, down payment savings or debt.
  • If so, Landis will make a bet on the clients success by giving them a budget to pick a property, which Landis then purchases.
  • By making the app free to anyone who is working towards a mortgage, Landis hopes to help more Americans achieve their homeownership dreams and build intergenerational wealth.

Student Loan Forbearance Is Ending--How You Can Prepare

Retrieved on: 
Tuesday, July 27, 2021
Mortgage, Money, Finance, Loans, Forbearance, Economy, Student loans in the United States, Student loan, Loan servicing, Student loan default in the United States

SAN JOSE, Calif., July 27, 2021 /PRNewswire/ -- Federal student loan payments have been paused since March 2020. By now, many of us have forgotten what it's like to have that monthly bill. As the country begins reopening, the end of federal student loan forbearance is on the horizon. Unless there's an extension, forbearance will end on September 30, 2021. Here's how you can start preparing to make student loan payments again and avoid missed payments or default.

Key Points: 
  • As the country begins reopening, the end of federal student loan forbearance is on the horizon.
  • Here's how you can start preparing to make student loan payments again and avoid missed payments or default.
  • Some student loan borrowers continued making payments toward their student loans during the forbearance payment.
  • Leading up to the end of forbearance, your student loan servicer may communicate with you via mail or email to let you know important information about your student loans.

Rocket Companies, Inc. Investors: Last Days to Participate Actively in the Class Action Lawsuit; Portnoy Law Firm

Retrieved on: 
Tuesday, July 27, 2021
Loans, Portnoy, Mortgage loan, Financial market

LOS ANGELES, July 27, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Rocket Companies, Inc. (NYSE: RKT) investors that acquired shares between February 25, 2021 and May 5, 2021. Investors have until August 30, 2021 to seek an active role in this litigation.

Key Points: 
  • Investors are encouraged to contact attorney Lesley F. Portnoy , to determine eligibility to participate in this action, by phone 310-692-8883 or email , or click here to join the case.
  • It is alleged in this complaint that Rocket made misleading and false statements to the market.
  • In relation to increased competition with other mortgage lenders, amongst other factors, Rocket suffered from the highest contract rates in two years.
  • The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing.

Soltage Closes $130M Debt Facility led by Silicon Valley Bank to Finance National Solar Portfolio

Retrieved on: 
Tuesday, July 27, 2021
Articles, Loans, SVB, Renewable energy, Lead arranger, Silicon Valley Bank

JERSEY CITY, N.J., July 27, 2021 /PRNewswire/ --Today, Soltage LLC , a leading independent renewable power producer, and Silicon Valley Bank, an innovative bank active in the renewable energy and technology sector, announced that it raised a $130M debt facility led by Silicon Valley Bank.

Key Points: 
  • JERSEY CITY, N.J., July 27, 2021 /PRNewswire/ --Today, Soltage LLC , a leading independent renewable power producer, and Silicon Valley Bank, an innovative bank active in the renewable energy and technology sector, announced that it raised a $130M debt facility led by Silicon Valley Bank.
  • The investment will finance a 110 MW national portfolio of projects across six states: North Carolina, South Carolina, Maine, Illinois, Virginia and Maryland.
  • Silicon Valley Bank is the Sole Coordinating Lead Arranger of the debt facility with three other banks included as lenders.
  • For nearly 40 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast.

Calgary Startup Yr Plans Announces Pilot Partnership with Sun Life

Retrieved on: 
Monday, July 26, 2021
Finance, Money, Economy, Personal finance, Loans, Debt, Student debt, Student loan, Sun Life Financial

One of the first insurers in Canada participating in the pilot to help Canadians repay student debt

Key Points: 
  • Calgary, Alberta--(Newsfile Corp. - July 26, 2021) - Yr Plans Inc. announced a pilot partnership today with Sun Life to help Canadians repay student debt and take control of their financial future.
  • Yr Plans is the first platform in Canada offering this service, which allocates part of employees' retirement savings contributions to repay student loans.
  • We provide a relevant tool to help organizations support and attract skilled talent," said Sangita Prasad, CEO, Yr Plans.
  • Sun Life and Yr Plans' pilot partnership is one way we're helping Canadians take charge of their financial future," said Eric Monteiro, Senior Vice-President, Group Retirement Services, Sun Life.