Posted by Leonard Steinberg on August 21st, 2014 I sit on the Board of my building, and sometimes (very seldom) a building can come into a windfall of money, a surprise revenue source that boosts its reserves unexpectedly and outside all budgetary expectations. New York State is experiencing this exact phenomena right now: It will realize a… [Read More]
BANK OF AMERICA EXITS RESIDENTIAL MORTGAGE MARKET
As first reported on LUXURYBLURB a few days ago, Bank of America has exited the wholesale residential lending market, cutting off its business with mortgage brokers, the bank announced yesterday. “After receiving $ 45 BILLION in TARP funding from the US Governemnt/taxpayers, BOFA was one of the first banks to re-pay this debt,” says Leonard… [Read More]