The Blackstone Group this week finally completed its purchase of all or parts of PMAC Lending, a California-based lender that will help the investment banking firm establish itself in the red-hot West Coast mortgage market. Although the publicly traded Blackstone has maintained a cone of silence regarding its talks with PMAC, employees of the Chino Hills lender began reporting the news themselves through various social media outlets, including Facebook. At least two other nonbank lenders are in talks with Blackstone, one in California and one in Pennsylvania. A spokeswoman for Blackstone declined...
Two Harbors is starting to offer “expanded credit” mortgages via its conduit, including allowing for lower credit scores and higher loan-to-value ratios.
The case caught the attention of many loan officers and managers because it centered around the basic issue of what type of client information an LO can take with them when they depart one organization for another.
According to one published report, Gov. Andrew Cuomo is considering John Coffey as the next superintendent for New York Department of Financial Services.
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