CNA Reinforces Its Commercial Real Estate Appetite with New Coverage and Service Enhancements

Last Spring, CNA announced commercial real estate and property owners as a part of its targeted Middle Market focus class initiative. Today, the global insurer reinforces commercial real estate as a core industry appetite with the announcement of new coverage and service enhancements, further positioning CNA as a premier carrier for these businesses. “We’ve seen strong new business growth with this business since we launched it earlier this... 

Canadians confront housing market with caution and confidence

Residential mortgage consumers remain remarkably positive as they weather the financial storm, according to a report released today by the Canadian Association of Accredited Mortgage Professionals (CAAMP). Attitudes towards local conditions have shifted only slightly with 38 per cent of Canadians believing now is a good time to purchase and 32 per cent believing it is a bad time. Mortgage arrears remain low and steady at .28 per cent and an overwhelming... 

AllRegs FCRA Coursework Approved for Attorney CLE Credit in California and Florida

AllRegs, the leading information provider for the mortgage industry, announced that its Fair Credit Reporting Act (FCRA) coursework has been approved for continuing legal education (CLE) credit by the State Bar of California and the Florida Bar Association. The coursework is delivered through the organization’s education division, AllRegs Academy. “As mortgage regulations continue to evolve based on Congress’ response to recent market changes,... 

Mortgage Industry Veteran Launches National Loan Auditors

Chief executive officer, August Blass, announces the launch of Walnut Creek, Calif.-based National Loan Auditors (NLA), a company providing quality control, pre-close, and post-close auditing, risk assessment consulting, and fraud prevention to the mortgage and banking industries. The company was developed to assist loan modification professionals review loan documents for errors or misrepresentations and help in reducing the high foreclosure rates... 

CB Richard Ellis Group, Inc. Announces Underwriters’ Exercise of Option to Purchase Additional 7,500,000 Shares of Class A Common Stock

CB Richard Ellis Group, Inc announced today the underwriters exercised their option to purchase 7,500,000 additional shares of the Company’s Class A common stock at an offering price of $3.77 per share. As a result, the estimated net proceeds of the offering have increased to approximately $207.1 million. CB Richard Ellis expects to use the proceeds from the sale for general corporate purposes. The offering is being conducted as a public offering... 

Solutions for Land Developers in Turbulent Markets

SCS-Strategic Capital Solutions, LLC is pursuing an aggressive initiative to originate bridge financing for commercial and residential development transactions throughout the United States. SCS is targeting experienced developers and financial institutions with properties in foreclosure, or owners having difficulty obtaining completion financing or sponsors requiring financing for the acquisition of distressed assets. This initiative focuses on special... 

URDANG and Onyx Equities Sell White Plains, NY, Office Building for $82 Million

URDANG, part of BNY Mellon Asset Management, and Onyx Equities, LLC, have completed the sale of a 320,000-square-foot office building in White Plains, New York, for $81,775,000. The multi-tenant, fully occupied building at 1311 Mamaroneck Avenue had been part of the URDANG Value-Added Fund, L.P. portfolio, a real estate investment vehicle formed by URDANG Capital Management, Inc. to acquire a portfolio of value-added properties located throughout... 

Stonegate Mortgage Corporation Opens a New Branch Office in Oak Grove, MO

Stonegate Mortgage Corporation opened a retail facility in Lenexa, KS in May of 2008. The company now employs 17 full-time originators in the Kansas City market, and announces the opening of a new location in Oak Grove, MO to service the lending needs of Jackson County. The company has employed Lori Caldwell to originate full-time in western Missouri from the new branch facility. Stonegate Mortgage Corporation is a full service mortgage bank, underwriting... 

Del Mar DataTrac Adds 37 Clients In Six Months

Del Mar DataTrac®, Inc. announced at the Mortgage Bankers Association’s (MBA’s) 95th Annual Convention & Expo that the company has added 37 clients in the six-month period spanning February to August 2008. Del Mar DataTrac provides solutions that empower small- and medium-sized mortgage bankers to deliver extraordinary customer service and drive up production while reducing risk, increasing productivity and streamlining their overall efficiency. This... 

Lenders Benefit from QuestSoft and OpenClose Partnership, More Streamlined Compliant Loan Origination Capabilities

QuestSoft, a provider of compliance software and geocoding services for lenders, and OpenClose, developers of Web-based, end-to-end mortgage lending software, announced today at the Mortgage Bankers Association’s 95th Annual Convention and Expo announced the integration of QuestSoft’s automated compliance tool, Compliance EAGLE, with OpenClose’s loan origination software (LOS). Compliance EAGLE is the only automated compliance solution to be...