Posted To: Pipeline Press
In lender and regulator news, SoFi (Social Finance) is reportedly close to raising $500 million in fresh funds from an investor group led by Silver Lake & SoftBank. Bloomberg reported that during an earnings call this week Blackstone Mortgage Trust plans to expand construction loan business. With plenty of undeployed equity at Blackstone, CEO Steve Plavin observed that it is a challenging environment for banks to compete and there is still demand from developers, and that BXMT has a unique opportunity. Banks "are not really in it" and BXMT wants to fill void. He believes that higher rates can produce a "very attractive ROI." At the other end of the spectrum shares of PHH Corp fell as much as 20% yesterday . Apparently, investors are disappointed it did not announce a sale on the investor...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/2m2Uk7I
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