The New York City Council approved a 72-story tower in Brooklyn this week, a major step toward adding desperately needed affordable housing. New York developers Rabina and Park Tower Group plan to swap a reviled, outdated low-rise office building near the Manhattan Bridge for more than 1,200 apartments. Roughly a quarter of the apartments –…
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There’s no question that banks have played a steadily diminishing role in mortgage lending and servicing over the past decade. In 2016, the three largest mortgage lenders were Wells Fargo, JP Morgan Chase, and Bank of America, and depository institutions made up six of the top 10 mortgage lenders. Fast forward to 2026, and only…
Fidelis Investors has closed its third rated residential transition loan (RTL) securitization, a $143.925 million deal backed by 330 loans originated by 29 lenders, the company announced Friday. The transaction, FIDL 2026-RTL1, is a two-year revolving securitization rated by Morningstar DBRS. The origination of the underlying RTL collateral was completed by Unitas Funding LLC, a…
The lopsided vote to approve the measure was a rare bit of election-year bipartisanship on a major affordability issue, but G.O.P. disputes and President Trump’s disinterest have left its fate uncertain.