News: Finance

MassHousing's Milewski inducted into the New England Mortgage Bankers Hall of Fame

MassHousing's Peter Milewski was recently inducted into the New England Mortgage Bankers Conference Hall of Fame for his more than 40 years of excellence in mortgage banking. Milewski, of Duxbury, is the director of MassHousing's Mortgage Insurance Fund and also the agency's manager of Homeownership Business Development. He received the honor at the 25th Annual New England Mortgage Bankers Conference (NEMBC) in Newport, R.I. The NEMBC is comprised of mortgage bankers associations from the five New England States. "This is a very humbling experience," said Milewski. "In the years I have worked in the industry I have had the honor to work with the industry pioneers, the best, the brightest and the bravest, all of whom are more deserving of this honor than I am." Prior to joining MassHousing in 1999, Milewski was a division manager for Advanced Financial Services, an account manager at Republic Mortgage Insurance Company, regional vice president at Mellon Mortgage, an account executive and regional director for Mortgage Guaranty Insurance Corporation, assistant treasurer at Plymouth Savings Bank and a branch manager at Shawmut Bank.
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Kozlowski of Newmark Capital Markets secures $115.6m financing for two properties

East Lyme, CT Newmark has arranged $115.6 million in financing on behalf of the sponsor to refinance The Cove at Gateway Commons and Sound at Gateway Commons. Newmark Capital Markets Strategies managing director Avi Kozlowski secured the financing through Freddie Mac.
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The focus on price per s/f compared to the  comparable sales used in the appraisal report - by Dennis Chanski

The focus on price per s/f compared to the comparable sales used in the appraisal report - by Dennis Chanski

Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.
Are appraisers on the same page as the assessor? - by Richard Seman

Are appraisers on the same page as the assessor? - by Richard Seman

The purpose of this article is to address problematic or confusing issues which may help assessors and appraisers to better understand how to value real estate for tax assessment purposes.
Massachusetts real estate transfers  over $1 million face new tax rules as of November 1st - by Daniel Meyer

Massachusetts real estate transfers over $1 million face new tax rules as of November 1st - by Daniel Meyer

Attention to owners of real estate in the Commonwealth (and the title companies and other professionals who advise them), the Massachusetts Department of Revenue (the “DOR”) recently adopted a new “millionaire’s tax” via 830 CMR 62B.2.4
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick

Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick

Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property