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Marcus & Millichap buys local commercial mortgage brokerage firm

Locally owned Pinnacle Financial Group of Independence has agreed to be acquired by Marcus & Millichap Inc . (NYSE: MMI), the Calabasas, Calif.-based national brokerage specializing in commercial real estate investment sales, financing, and research and advisory services.

Pinnacle is a mortgage brokerage and servicing firm led by principals Jim Leonard, Brock Walter and Brian Stulak.

Hessam Nadji, Marcus & Millichap president and CEO, said in a news release announcing the acquisition that Pinnacle will "fill a service gap in key areas of the Midwest" for the company. He said Pinnacle will complement Marcus Millichap Capital Corp.'s services and brings relationships with life insurance companies and collateralized mortgage-backed lenders.

Pinnacle also will bring a "sizable" mortgage servicing portfolio with it, he said, but the size of the portfolio was not disclosed.

Michael Glass, first vice president and district manager of Marcus & Millichap’s Midwest office, said the additional services Pinnacle will bring will be valuable because the office previously lacked on-site mortgage professionals and the brokerage previously had no mortgage servicing portfolio.

Community Advisory: Protect Yourself from Mortgage Fraud — FBI

Fraudsters are preying on individuals and institutions in our community. Mortgage fraud schemes are particularly resilient, and adapt to economic changes and modifications in lending practices. The recent increases in real estate prices have made mortgage fraud that much more lucrative to criminals.

Mortgage fraud is a material misstatement, misrepresentation, or omission relied on by an underwriter or lender to fund, purchase, or insure a loan. Prevalent mortgage fraud schemes include loan origination, foreclosure rescue, real estate investment, equity skimming, short sale, illegal property flipping, title/escrow/settlement fraud, commercial loans, and builder bailout schemes. Home equity line of credit, reverse mortgage fraud, and loan modification are also of rising concern.

Mortgage fraud perpetrators include licensed/registered and non-licensed/registered mortgage brokers, lenders appraisers, underwriters, accountants, real estate agents, settlement attorneys, land developers, investors, builders, bank account representatives, and trust account representatives. Perpetrators target individual and institutional victims across demographics and income levels who can be exploited, either online or in person.

Can a single mother with one child get a mortgage?

I split from my partner 5 months ago due to his infidelity now i am living with parents, can i apply for a mortgage by myself with an income of £1000 per month or do i need a guarantor?

Being a single mother should not be a serious problem. Having an income of 1000 GBP/month could be. I am not familiar with the cost of living in the UK, but the US equivalent is not very much to live on. правовой холдинг юридические услуги.