Mortgage Blog
Saudi group could invest $1B in Tesla rival that plans to build Phoenix-area factory
An electric-car startup that has plans to build a manufacturing plant in Arizona is in discussions for a $1 billion investment from Saudi Arabia.
Saudi Arabia’s deep-pocketed sovereign wealth fund is in talks to invest more than $1 billion in Newark, California-based Lucid Motors, Reuters reports, citing unnamed sources.
The Public Investment Fund of Saudi Arabia (PIF) and Lucid Motors have drawn up a term sheet that details an initial $500 million investment, followed by two additional tranches…
After the bitcoin boom: Hard lessons for cryptocurrency investors
The virtual currency markets have been through booms and busts before — and recovered to boom again. But this bust could have a more lasting impact on the technology’s adoption because of the sheer number of ordinary people who invested in digital tokens over the last year and who are likely to associate cryptocurrencies with financial ruin for a very long time.
Ohio’s credit unions continue to see steady growth amid regulatory debate
Ohio's credit unions are growing steadily and outpacing their bank peers as debate about regulatory scrutiny continues.
Data from the Ohio Credit Union League shows loan growth among the state's 274 credit unions was 7.1 percent compared to 2.1 percent for the 200 Ohio-based banks – the seventh straight year credit union portfolios have seen a faster annual growth rate than banks.
The numbers don't include J.P. Morgan, whose global headquarters is in New York.
Ohio-based credit unions have grown…
U.S. banks tap the brakes on consumer credit
Concern is growing over credit quality and profitability.
Wisconsin Cheese Group owner buys Monroe cheese maker
Main Street Capital does second cheese deal, focused on fast-growing Hispanic markets.
PlainsCapital Bank eyes Houston growth after acquisition
The bank is considering hiring more employees in Houston, and continues to scan the M&A market for potential deals.
Central Pacific Bank sends employees on ‘mission’ to Big Island
Central Pacific Bank is sending employees to the Big Island in an effort to stimulate the island’s economy after experiencing a drop in tourism due to the recent volcanic activity that began in May.
As part of the initiative, which the bank has dubbed “Mission Possible,” CPB said it will send two employees per week over the next 16 weeks to act as “agents” on a mission to the island.
CBP will cover the roundtrip airfare for the employee and a guest as well as provide $100 in spending…
Former Airbnb exec’s Palo Alto startup raises $22.7M to hook more crypto ‘whales’
The company has set up a marketplace for high-volume traders and institutional investors in cryptocurrencies that it claims has grown 12-fold this year.
BankUnited to close three Florida branches
BankUnited wants to close three branches, including two in South Florida.
This follows the trend of banks shuttering brick-and-mortar locations as more customers depend on mobile banking or stand-alone ATMs.
On Aug. 3, the Miami Lakes-based bank (NYSE: BKU) filed notice with the Office of the Comptroller of the Currency that it would close the following locations:
19125 Biscayne Blvd. in Aventura, which had $40.1 million in deposits on June 30, 2017, according to the Federal Deposit Insurance…
There’s a capital void to fill in Brooklyn and this firm wants to help
Private lender Millbrook Realty Capital LLC announced Friday that it closed $15 million in transactions in New York City over the past 60 days.
The transactions, including six bridge loans, mostly took place in Brooklyn, with others in Queens, Manhattan and Long Island.
Loan originator Uanderson Benedetti closed the following deals:
$3.4 million loan to satisfy existing liens on a 21-unit multifamily property in Flushing, Queens;
$3.0 million loan to refinance a 15-unit multifamily property in…