Articles Filed Under: Industry Stuff

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Request For Proposals For San Francisco’s Seawall Lot 337

Request For Proposals For San Francisco’s Seawall Lot 337

The Port of San Francisco is now calling on “experienced development teams” to respond to their official “Request for Developer Qualifications/Proposals” (RFQ/P) for the 16 acres that comprise San Francisco’s Seawall Lot 337. The stated goal: o bring forth cutting edge and integrated approaches in sustainable architectural, landscaping and... Read More »

Don’t Panic (Unless Perhaps You’re A Mortgage Broker)

Yes, Bank of America is exiting the wholesale mortgage business. No, that doesn’t mean they’re going to stop lending. The nation’s second-largest bank will stop offering home mortgages through brokers at the end of the year to focus on direct-to-consumer lending through its banking centers and loan officers. The... Read More »

The Latest Reminder That Your Neighbor Got A Deal: That Damn Vespa

The Latest Reminder That Your Neighbor Got A Deal: That Damn Vespa

While the free cars of 767 Bryant didn’t seem to get results (or even much reader respect), the sales team at 733 Front street is rolling out the Vespas. From a plugged-in tipster: “There is no better way to enjoy Jackson Square than on the back of a Vespa.... Read More »

RandomRumors And Readers Report: Countrywide Cuts Commence

From a plugged-in tipster: “I talked to my friend who was just let go . Seems they’re going to go into the direction right now of letting those people go who started after June 11th, 2007. He said company wide so we shall see how it unfolds. Weird... Read More »

1501 Greenwich: Twenty-Nine New Condominiums Coming Soon

1501 Greenwich: Twenty-Nine New Condominiums Coming Soon

The transformation of 2655 Van Ness from a 27,000 square foot class B office building (with private tennis court up top) into twenty-nine (29) new condominiums with a more upscale 1501 Greenwich address (no offense Marina Chateau) is about three months from completion. And in case it’s not readily... Read More »

Countrywide Secures Another $12 Billion As Application Volume Falls

Countrywide has secured an additional $12 billion in “borrowing capacity through new or existing credit facilities” (good news for those waiting to fund), but also reports that year-over-year application volume was off 12% – and down 19% in terms of dollar value – at the end of August (not... Read More »

From Rumor To Reality: Up To 12,000 Layoffs At Countrywide

It was two days ago that “ex SF-er” commented: “Rumor alert: Countrywide may be laying off 6,000 to 10,000 employees.” And it was but less than two hours ago that Countrywide announced possible workforce cuts of between 10,000 and 12,000 people over the next three months. The culprit, a... Read More »

JustQuotes: Qualifying Is Great, Funding Is Even Better

“U.S. commercial paper outstanding fell for a third week, dropping 3.1 percent as more investors refuse to buy debt secured by mortgage assets.” “Commercial paper outstanding has fallen by $244.1 billion in the past three weeks as more than 20 companies and funds including Cheyne Finance and Thornburg Mortgage... Read More »

The Montgomery (74 New Montgomery) Gets A New Sales Team?

The Montgomery (74 New Montgomery) Gets A New Sales Team?

According to a trusted plugged-in tipster, The Montgomery (74 New Montgomery) has switched sales teams (out with Pacific Marketing Associates, in with The Mark Company) two months after their grand opening and first release of condos. If so, it’s likely some insight into the pace of sales (and perhaps... Read More »

JustQuotes: Is This A Blip, A Bump, Or More In The Mortgage Market?

“FBR Research said on Wednesday that $150 billion to $250 billion of permanent capital is needed to normalize pricing in the depressed market for mortgage-backed securities. However, in a note to clients, the research arm of securities firm Friedman, Billings, Ramsey & Co Inc said the process would take... Read More »