Mortgage Blog

The $1 billion investment in Silicon Valley electric car startup Lucid Motors is just the latest deal by the Public Investment Fund, a Saudi Arabian government fund, in its multibillion-dollar spending spree and highlights the evolution and growing ambitions of so-called sovereign wealth funds.

A former executive at Pittsburgh’s largest bank has been named interim CEO of Fannie Mae.

Hugh Frater’s appointment is effective Oct. 16. He succeeds Timothy Mayopoulos, who announced his intent to depart in July.

Frater has served on Fannie Mae’s board since 2016. He was CEO of Berkadia Commercial Mortgage LLC from 2010 to 2014 and then was the national commercial real estate company’s chairman for a year afterward.

Previously, Frater was an executive vice president at PNC Financial…

BankUnited branches are shuttering in Florida and New York, following a trend of brick-and-mortar bank locations closing as more customers turn to online banking.

Sears Holdings Corp. on Tuesday indicated that a complex restructuring could be in its offing as it named a noted expert on bankruptcy to its board.

The beleaguered Hoffman Estates, Illinois-based retailer (Nasdaq: SHLD) said it's adding Alan Carr, managing member and CEO of Drivetrain, to its board.

“Carr has significant experience as a principal, investor and advisor leading complex financial restructurings, as well as serving as a director of reorganized businesses in the U.S. and Europe,”…

Merrimack Valley Credit Union and Bridgewater Credit Union had their first merger attempt thwarted in the spring by a federal court ruling.

Family philanthropic efforts can take many forms. Two of the most common philanthropy vehicles used among the affluent are the private foundation (PF) and the donor advised fund (DAF).

A private foundation is an IRC Section 501(c)(3) organization that has one primary source of funds, typically either from an individual/ family but may also be a business. This discussion focuses on private non-operating foundations, otherwise known as grant-making foundations.

A donor advised fund (DAF) is a separately…

Florida's largest credit union is expanding for the first time under president and CEO Kevin Johnson, who took the helm in 2016.

Suncoast Credit Union is moving into a new three-story, 107,176-square-foot building located at 6536 E. Hillsborough Ave. in east Tampa.

The building, which is across from the company's existing headquarters, will house more than 250 employees, the credit union said in a statement.

Architects Holmes Hepner & Associates, along with general contractors Creative Contractors…

Wells Fargo & Co. is taking a more focused approach when it comes to financing Hispanic-owned businesses. The San Francisco-based bank has high hopes for what this market opportunity can do both for its bottom line and the economy as a whole.

The reverse-logistics operation of Optoro Inc. and the Mediterranean-inspired menu of falafel juggernaut Cava Group Inc. propelled Greater Washington to a strong third quarter for venture funding — and gives it a shot at a record-breaking haul for 2018.

Greater Washington saw $452.67 million in venture funding in the third quarter, according to the new 2018 PitchBook-NVCA Venture Monitor report. The region has seen $1.42 billion in venture funding through the first three quarters, setting the…

For one, prepare to see the resurgence of a new local banking brand.