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Congress presses FHLBs on housing focus amid accusations of mission drift
At the first congressional oversight hearing to examine the Federal Home Loan Bank (FHLB) system in 15 years, lawmakers on the House Subcommittee on Housing and Insurance wanted to better understand why a Depression-era banking system designed to safeguard access to mortgage credit wasn’t doing more to advance that mission. That nearly century-old system of…
He Started with $5,000. Now He Owns 14 Rental Properties (And Quit His Job!)
When Niyi Adewole got his first “real” job out of college, he had one goal: financial freedom. But when he asked his coworkers about the company 401(k), he left more confused than convinced. In searching for answers, he discovered a much better path: real estate investing. Then, with just $5,000 in savings, he bought his…
Vantage Launches 24/7 Gold CFD Product | LeapRate
Multi-asset CFD broker Vantage has launched XAUUSD247, a new over-the-counter gold CFD product available 24 hours a day, seven days a week, including weekends. The move comes as demand for round-the-clock precious metals trading continues to grow and as the CME Group recently announced plans to expand trading of certain gold futures contracts to 24/7. …
The big interview: How brokers are finding South Florida condo deals others are missing
Foundation Mortgage has built a condo team for that very reason, bringing on a specialist who previously ran condo operations at Sprout and has involvement in Fannie Mae advisory processes. Marc Halpern (pictured top), CEO of Foundation Mortgage in South Florida, said understanding those engineering reports gives educated brokers and lenders an advantage. “We’re going…
Apartment Complex Sells for $51M in Los Angeles’ Miracle Mile – Commercial Observer
Prime Residential acquired the 132-unit complex in the Miracle Mile neighborhood for $51.3 million. An LLC tied to Studio City-based Harrison Properties sold the property at 740 South Burnside Avenue, named Palm Court Apartments, for approximately $388,000 per unit. Marcus & Millichap’s Jeff Louks, Gayle Factor and Elliot Sabag represented the seller, while Matt Ziegler…
This City Clocked Record July 4th Heat—and Renters Paid Dearly for It
This past Fourth of July weekend was a hot one for many cities across the U.S., including Chicago where temps reached mid to upper 90s and a heat index around 100 to 105 degrees, and four people died. For some renters in the Windy City, staying cool cost more than expected. That’s because landlords in…
