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Forecast: Property Damage from Hurricane Milton Could Cost up to $50 Billion

Forecast: Property Damage from Hurricane Milton Could Cost up to $50 Billion

by Phil Hall | Oct 16, 2024 | Industry Updates, News/Current Events, Real Estate News, WRE News Exclusive

Insured industry losses to onshore property for Hurricane Milton could range from $30 billion to $50 billion, according to a forecast from the Extreme Event Solutions group at Verisk (NASDAQ: VRSK). The new forecast noted the back-to-back impact of Hurricane Helene...
Mother of Missing Texas Real Estate Agent Fears Her Daughter is Dead

Mother of Missing Texas Real Estate Agent Fears Her Daughter is Dead

by Phil Hall | Oct 14, 2024 | Industry Updates, News/Current Events, Real Estate News, WRE News Exclusive

The mother of an Olmos Park, Texas-based real estate agent who disappeared a week ago after a violent fight with her husband believes that her daughter is no longer alive. KSAT 12 News reported that Suzanne Clark Simpson was last seen by a neighbor on the evening of...
New Lending Platform Aims at Multifamily Property Owners

New Lending Platform Aims at Multifamily Property Owners

by Phil Hall | Oct 14, 2024 | Industry Updates, News/Current Events, Real Estate News, WRE News Exclusive

A trio of real estate organizations – Smith Hill Capital, ECI Group and InterVest – have teamed up to create a $250 million private lending platform that will provide financing on first mortgages, mezzanine loans, and preferred equity investments to multifamily...
Michigan Real Estate Agent Sentenced in Child Predator Case

Michigan Real Estate Agent Sentenced in Child Predator Case

by Phil Hall | Oct 14, 2024 | Industry Updates, News/Current Events, Real Estate News, WRE News Exclusive

A real estate agent in Lansing, Michigan, was sentenced to up to 20 years in prison on a charge of sexually abusive activity involving a child. According to the Lansing State Journal, 64-year-old John DeMarco received a sentence of 30 to 240 months from Judge Matthew...
Leadership Change at Arch Capital Group

Leadership Change at Arch Capital Group

by Phil Hall | Oct 14, 2024 | Industry Updates, News/Current Events, Real Estate News, WRE News Exclusive

Arch Capital Group Ltd. (NASDAQ: ACGL), a provider of insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries, announced the promotion of Nicolas Papadopoulo as CEO. Papadopoulo, who is also joining the company’s board...
Justice Dept. in $6.5 Million Redlining Settlement with Credit Union

Justice Dept. in $6.5 Million Redlining Settlement with Credit Union

by Phil Hall | Oct 11, 2024 | Industry Updates, News/Current Events, Real Estate News, WRE News Exclusive

The U.S. Department of Justice (DOJ) announced its first redlining settlement with a credit union in its $6.5 million agreement with the $6 billion-assets Citadel Federal Credit Union. The DOJ alleged that Citadel failed to provide mortgage lending services to...
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