Failed US real estate investor DBSI presented a liquidation plan to bankruptcy court on Monday that pays less than 20 cents on the dollar for about $800m in claims. DBSI, based in Meridian, Idaho, was a investment firm that specialized in tenant-in-common arrangements and suffered from the crash in commercial real estate that eventually exposed improper uses of corporate cash.
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Quicken Loans has become the largest mortgage lender in the country over the last few years due in large part to the growth of Rocket Mortgage, the company’s digital mortgage platform. As it turns out, Rocket Mortgage is becoming so big that it’s now consuming other parts of the Quicken Loans family of companies too, namely the company’s reverse mortgage lender.
Realogy will be renaming NRT, the business unit that includes Corcoran Group, Sotheby’s International Realty and Coldwell Banker.