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  • It’s official: Ben Carson accepts nomination as next HUD secretary

    The wait is over — Ben Carson accepted the role of secretary of the U.S. Department of Housing and Urban Development, pending congressional approval. But this isn’t news to HousingWire readers, who knew last week that a source close to Carson confirmed that he would accept the nomination. Click the headline to read more.

Wells Fargo Enters Joint Venture to Fund NYC Broker's Mortgages

Wells Fargo Ventures and mortgage brokerage firm Prudential Douglas Elliman Real Estate have partnered to create a new wholesale lending operation. DE Capital Mortgage will replace Prudential Douglas Elliman’s Preferred Empire Mortgage Company, its previous wholesale lending unit. Co-owner Wells Fargo Ventures is the venture capital subsidiary of Wells Fargo (WFC). The new business unit will serve as the financing component of Prudential Douglas Elliman, which also provides mortgage, title and property management services in New York City. The partnership will provide Prudential Douglas Elliman home buying customers with Wells Fargo Home Mortgage's underwriting, processing and servicing services. “With this joint venture, our clients will enjoy the ability to obtain a mortgage directly from our affiliate, DE Capital Mortgage — with competitive rates, high-touch service, a broad product line and convenience,” said Dottie Herman, the president and CEO of Prudential Douglas Elliman, in a statement. Write to Austin Kilgore.

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