The delinquency rate for commercial mortgage-backed securities (CMBS) dropped for the second consecutive month after six months of increases, according to data from Trepp Inc. February’s overall delinquency rate decreased 26 basis points to 6.30%. One year ago, the...
The average annual property insurance premium among mortgaged single-family homes rose by a record $276 in 2024 to $2,290, a 14% year-over-year climb, according to a data report from Intercontinental Exchange Inc. (NYSE:ICE). Premiums are now up by 61% over the last...
The Consumer Financial Protection Bureau (CFPB) has dropped its enforcement action against the consumer credit report provider TransUnion (NYSE: TRU). According to Reuters, the CFPB initiated its enforcement against TransUnion case in 2022, claiming longtime executive...
The Bascom Group LLC, a private equity firm, has acquired Highridge Apartments, a 257-unit apartment community in the coastal market of Ranchos Palos Verdes, California, for $127 million. Highridge Apartments is an institutionally owned, 1972-vintage property that has...
Oklahoma City-headquartered Bank7 has acquired First American Mortgage Inc., a residential mortgage lender based in Yukon, Oklahoma. The financial aspects of the deal were not disclosed. First American Mortgage has operated since 1993 and facilitated over $3 billion...
Island Capital Group LLC, a New York City-headquartered international real estate merchant bank, has recruited Melissa Iorio as an executive managing director. Iorio most recently served as head of investor relations at Cohen & Steers, where she helped build the...
