The founder and CEO of an Orange County, California-based private equity fund has been charged with defrauding hundreds of investors out of approximately $62.5 million via a promissory note scam involving real estate, Broadway shows, and cryptocurrency. According to...
A five-unit multifamily property in Norwalk, Connecticut, that was constructed in 1900 has been sold for $1.7 million, or $342,000 per unit. The three-story property at 2 Park Street encompasses four oversized one-bedroom units and one oversized loft studio totaling...
The Trump administration is seeking to have an appeals court to remove Lisa Cook from the Federal Reserve’s board of governors by Monday. The Associated Press reports the administration’s request is an attempt to exclude Cook from the central bank’s next vote on...
Commercial mortgage delinquencies were on the rise during the second quarter, according to data from the Mortgage Bankers Association (MBA). Based on the unpaid principal balance of loans, the MBA reported the following second quarter delinquency rates based on...
A Michigan credit union is seeking to attract new home loan borrowers by offering 30-year fixed-rate mortgages at a 4.99% rate. The Detroit Free Press reports Michigan Legacy Credit Union — which has branches in Wyandotte, Warren, Pontiac, Highland Township and Flat...
Canadians are re-evaluating their relationships with their financial institutions for additional credit support, according to new research from Equifax Canada. Among the key findings from the survey are the following: 56% of mortgage holders say they will explore...
Hits and Misses for the Real Estate Week of June 29-July 3
