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heard on the street

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Ranieri Real Estate Partners and WL Ross Acquire Deutsche Bank Berkshire Mortgage

ICON RESIDENTIAL is GROWING in markets across the country. Top producing Account Executives are joining us because we offer: I Compensation Above Industry Standard I Excellent Employee Benefits I Customer Service That Exceeds Expectations I Competitive Pricing I Paperless Solution I Bank Subsidiary If you’re a top producing Account Executive please take a minute to explore how ICON RESIDENTIAL can help you take your career to the next level. We have opportunities in markets across the country.

For immediate consideration, please send resumes to: 10


APRIL 2012 




Then try PB FINANCIAL GROUP We have proven closing records


1. Stated and NO Doc programs available on Investment/N/o/o Properties 2. Purchase loans up to 65% of Purchase Price with no prepayment penalty and no guaranteed interest

Ranieri Real Estate Partners LP (RREP), a real estate financial services company, and private equity funds affiliated with WL Ross & Company LLC, has announced the completion of the acquisition of Deutsche Bank Berkshire Mortgage (DBBM), formerly a subsidiary of Deutsche Bank. Effective immediately, the company has been renamed Berkeley Point Capital (Berkeley Point). Jeffrey C. Day, who served as chief executive officer of DBBM and is an 11-year veteran with the company, and will serve as CEO of Berkeley Point. Berkeley Point originates multifamily loans for Fannie Mae, Freddie Mac and the Federal Housing Administration (FHA). It is the second largest originator of Fannie Mae loans and services a $29 billion multi-family loan portfolio. Founded in 1988, Berkeley Point has 175 employees and operates out of three primary offices: Bethesda, Md.; Boston and Irvine, Calif.; and has additional offices in Dallas, Los Angeles, Nashville and Seattle. “A high-quality acquisition of this scale within the multi-family sector is unique and rare. The new Berkeley Point provides us with an excellent inplace team, that we know well and is capable of much more,” said Jon Vaccaro, head of real estate at Ranieri Partners and founder of Ranieri Real Estate Partners. “With the benefit of the strong WL Ross and Ranieri partnership, we believe Berkeley Point is poised for growth.” James B. Lockhart III, vice chairman of WL Ross and former director of the Federal Housing Finance Agency (FHFA), said, “Berkeley Point did over $3 billion in multi-family originations last year. We look forward to working with Jeff and his strong team to help them grow in this critical part of our nation’s housing market.”

and COO of One Reverse Mortgage. “This success demands additional team members. We had 20 licensed bankers in 2007 and now have more than 130 with immediate plans to hire more. Our operations team has also grown from 16 team members in 2007 to more than 50 today. We expect to hire 20-30 additional team members this year.” ORM’s new space was designed and built to encourage creativity, communication, collaboration and motivation. One Reverse Mortgage’s culture is reflected in the bright colors, open spaces, low interior walls, and fun design combined with the latest stateof-the-art technology. “This new space accommodates our growth, which although aggressive, has been accomplished by maintaining our focus on high-quality client service,” said Richard Mandell, chief executive officer of One Reverse Mortgage. “Our licensed bankers are knowledgeable about reverse mortgages and are experienced working with seniors, which has allowed us to grow so rapidly.”

GSF Mortgage Expands Into Three Additional States GSF Mortgage has announced that it has opened three new branches in Indianapolis; Austin, Texas; and McLean, Va. “These branch openings reinforce GSF Mortgage’s commitment to providing exemplary customer service and expertise in helping individuals achieve homeownership,” GSF Mortgage Chief Operating Officer Chad Jampedro said. Jampedro added that he is pleased to have four seasoned professionals manage each of the new locations: Ronald Gardner and Nicole Lissade for the Indianapolis branch; Paula Brown for the Austin branch; and Judy Hines for the McLean branch. “We are thrilled to have them represent GSF Mortgage’s philosophy in building lasting relationships,” Jampedro said.

One Reverse Mortgage Adds to Its Ranks and Expands Operations

3. Residential rates start at 8.99%, interest only

ClosingCorp Partners With RamQuest on One Reverse Mort- Title and Settlement gage LLC (ORM) Services Initiative

4. Residential Owner Occupied up to 55% LTV 5. Stated & NO doc up to 65% LTV with 500+ score 6. True Equity Based Loans

Rates starting at 8.99% ...Call for details! * FAST, STREAMLINED PROCESS *

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has announced it has expanded and nearly doubled its headquarters to accommodate the company’s continued growth. ORM will occupy one floor and 14,000-plus sq. ft. in its new office, located at 9920 Pacific Heights Boulevard, Suite 350 in San Diego, Calif. One Reverse Mortgage was founded in 2001, operates in 48 states across the U.S. and is a Quicken Loans company. “One Reverse Mortgage is the fastestgrowing reverse mortgage company in the nation,” said Gregg Smith, president

ClosingCorp has announced a partnership with RamQuest to enable automated ordering capabilities for title and settlement services through the SmartGFE Calculator and RamQuest’s Closing Market. RamQuest, based in Plano, Texas, provides business solutions for title and settlement agents. Through the relationship, customers of ClosingCorp’s SmartGFE Calculator and continued on page 19



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