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first_img Banc of California C.D. Davies Caliber Home Loans Inc DS News Hugh Boyle Joe Hixson 2017-03-01 Staff Writer Irving, Texas-based lender Caliber Home Loans Inc. has acquired the residential loan division of Banc of California, a full-service bank based in Irvine, for $25 million in cash. For an additional $36 million, Caliber has also purchased the mortgage servicing rights on about $3.8 billion in unpaid balances of conventional mortgages. Banc of California took a $3.5 million loss on the transaction.The sale includes all home loan assets from the company, including any related to originating, processing, underwriting, funding, and selling residential loans, according to a filing with the U.S. Securities and Exchange Commission.Caliber may also retain many of the Banc of California’s home loan staff, which amounts to nearly 900 employees. The sale cuts the organization’s workforce almost in half.“We expect most of these employees will be retained by Caliber,” said Banc of California Spokesman Joe Hixson.The sale will allow Banc of California to focus more on its commercial banking efforts, according to Hugh Boyle, Interim Chief Executive of Banc of California.“The sale of the mortgage business will align Banc of California’s business profile with that of a more traditional spread-based lender by significantly reducing the bank’s reliance on mortgage banking gain on sale revenue, lowering the risk of MSR valuation changes impacting earnings, streamlining the bank’s operations, and allowing the bank to redeploy capital to our commercial banking business,” Boyle said.The sale comes on the back of a similar transaction between New Residential Investment Corp. and CitiMortgage just last month. New Residential agreed to purchase $97 billion in unpaid principal balances of MSRs from CitiMortgage. The sale is part of CitiGroup’s larger initiative to exit the mortgage servicing sector and focus more on retail banking.“Over the past several years, we have made significant progress transforming our business to deliver a sustainable annuity of growth,” said CitiMortgage President and CEO C.D. Davies. “CitiMortgage remains a critical part of serving our customers, deepening relationships with existing and prospective retail bank clients, and driving growth in our core markets. We will continue to originate loans for current and new clients.” Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: Freddie Mac Hits 10-year Low Delinquency Rate Next: Wells Fargo Wants More African American Homeowners Share Save Tagged with: Banc of California C.D. Davies Caliber Home Loans Inc DS News Hugh Boyle Joe Hixson Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Featured, Media, News Aly J. Yale is a freelance writer and editor based in Fort Worth, Texas. She has worked for various newspapers, magazines, and publications across the nation, including The Dallas Morning News and Addison Magazine. She has also worked with both the Five Star Institute and REO Red Book, as well as various other mortgage industry clients on content strategy, blogging, marketing, and more.  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Aly J. Yale Home / Featured / Caliber Acquires Banc of California Mortgage Division Caliber Acquires Banc of California Mortgage Division March 1, 2017 6,514 Views Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Is Rise in Forbearance Volume Cause for Concern? 2 days ago The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Subscribelast_img read more

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York Bethpage-based Kravet Inc., the industry leader in the to the trade home furnishings industry, is hosting a not-to-be-missed groundbreaking event — its first ever Designer Home Furnishings Warehouse sale open to the public.The fifth-generation family business is offering up to 85 percent off retail prices on more than 45,000 yards of upholstery and drapery fabric by the roll. Starting at $5 per yard, the possibilities are endless. More than 400 pieces of furniture, including sofas, sectionals, chairs and tables, and 300 decorative accessories, including mirrors, wall art and more will be for sale, as well as wall coverings, trimming and carpet.For 100 years, Kravet Inc. has helped designers and homeowners looking to spiff, spice, or spruce up their decor by offering superior, unique home furnishings that appeal to shoppers of various styles. The family’s commitment to innovation has helped the company grow from its humble beginnings to a global leader, representing brands and designers from all over the world. And now, for a limited time only, hundreds of these items will be available with astronomical savings.The sale of the perfect springtime opportunity to rejuvenate the home or office with materials found under one roof at unbeatable prices.Designers and design enthusiasts alike can immerse themselves in this home furnishings paradise, discovering new inventory and floor samples from luxury brands Kravet, Lee Jofa and Brunschwig & Fils. [email protected] is the go-to brand for superior decor in the widest range of colors, patterns and textures. Kravet is known for its extraordinary quality and offers the finest fabric, furniture, wallpaper, trimming, carpet and drapery hardware.Lee [email protected] Lee Jofa embodies English design with fresh and refined fabrics in a wide range of styles, including both classic and contemporary designs.Brunschwig & [email protected] Brunschwig & Fils is one of the interior design world’s most prestigious sources for exclusive fabrics, wallpapers, trimmings, furniture and carpet, with a distinct point of view.FurnitureSofas, sectionals, and chairs. Tables ranging from dining to coffee to accent and side. Kravet’s furniture is available in an array of styles, upholstered in vibrant patterns and plains, too. Choose from traditional, modern and transitional.Carpet and rugsThe world will truly be at your feet with Kravet’s wide range of both traditional and modern themed carpets in a variety of sizes, and knotted floor coverings from Nepal, India and Pakistan in sizes ranging from 3×5 up to 12×15. Featured rugs are comprised of all wool, wool/viscose, wool/bamboo or wool/silk. Styles range from traditional eastern rugs to modern and contemporary abstracts, as well as transitional patterns and textures. Decorative accessoriesEmbellish simple sofa pillows with vibrant trimmings. Vases, bookends, wall mirrors and more can enhance a home’s style in an instant.WallpaperAccent any space with superior style, durability and dimension with Kravet’s permanent wall coverings, available in vinyl, grasscloth textured wallpaper and more. Choose from a variety of colors and patterns—geometric, striped, traditional and the ever so elegant chinoiserie.FabricReupholster living room or dining room furniture or create delightfully delicate drapery. Fabric is available in hundreds of styles, colors, patterns and textures. Choose from weaves and textures to prints, in wool, chenille velvet, linen, cotton and more in a traditional, floral or modern style or bold solids to make a statement.Doors will open for designers on April 26 & 27 and the public on April 28 from 10 a.m. to 5 p.m. Shipping will be available on premise. Credit cards will be accepted.Kravet is located at 225 Central Ave. South in Bethpage. Call 516-293-2000 for more information.last_img read more

first_img August 20, 2017 Governor Wolf Attends MLB Pirates-Cardinals Game at Historic Bowman Field Press Release Williamsport, PA – Tonight, Governor Tom Wolf attended the first-ever Major League Baseball regular season game held at the start of the weeks-long Little League World Series festivities in Williamsport. The Pittsburgh Pirates hosted the St. Louis Cardinals at BB&T Ballpark at Historic Bowman Field, the home of the Class-A Williamsport Crosscutters of the NY-Penn League.“It doesn’t get much better than a great baseball game,” Gov. Wolf said. “To experience Major League Baseball in the intimate setting of historic Bowman Field with so many Little League players, coaches, families, and volunteers was just a tremendous night.”Dubbed “The MLB Little League Classic,” The Pirates-Cardinals game was introduced to celebrate youth baseball during the 2017 Little League World Series. The game aired nationally on ESPN’s “Sunday Night Baseball” and ESPN Radio.To start the day, Major Leaguers attended Little League World Series games at Howard J. Lamade Stadium. The day-long baseball celebration culminated with MLB hosting Little Leaguers and their families at the Pirates-Cardinals game.Bowman Field had a major makeover in preparation for the game. A new deck, named Logger’s Landing, was added down the first base line and new seats were added on the grandstand’s two levels.Pennsylvania’s Redevelopment Capital Assistance Program awarded $1.25 million toward the project in November 2016. Major League Baseball made a significant investment, too.“The only thing better than this Major-League game are the dozens of Little League World Series games being playing in Williamsport over the next two weeks,” Gov. Wolf said.“The MLB game was a perfect kick-off for the 2017 Little League World Series. I wish all of the teams here in Williamsport a lot of spirited competition and the best of luck.”View the governor’s recent video message to players, families, spectators, and volunteers can be viewed on YouTube, Facebook, Twitter or Instagram.center_img SHARE Email Facebook Twitterlast_img read more