California Capital Real Estate Advisers of Pasadena, CA, could quadruple its hard-money production volume this year, according to Mark Mozilo, a principal in the firm. “The rehab business is going crazy here,” Mozilo said. He estimated that 80 percent of CALCAP’s business is in the rehabilitation category. “There’s a lot of fix-it-up and flip it activity,” he said. Although the “quadruple” estimate sounds impressive, the firm’s overall production volume is tiny compared to conventional lenders ...
The new FHFA director’s whirlwind first week resulted in widespread staffing cuts at the regulator and a dramatic change in leadership at the GSEs. So far, criticism has been muted.
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