Items Tagged with 'Apollo Management'

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  • Apollo Management warned wealthy ex-partner to stop stealing, but he kept doing it anyway

    Charged with taking money from clients for personal expenses
    The temptation for one millionaire to keep stealing proved to be his undoing, if a recent report proves true. According to the Securities and Exchange Commission, Mohammed Ali Rashid, a now-former senior partner at Apollo Management, was told twice by the private equity firm to stop stealing clients' money. They say he kept doing it anyway.
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  • Apollo charts new course for loan strategy in 2014

    New focus on loans to third parties planning to resell properties
    New Apollo Residential Mortgage strategy: Provide loans to third parties that are purchasing residential properties with plans to resell the properties, and will then probably finance purchases by next buyers.
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  • Realogy Nets $1bn for Q209, But No Rebound Yet

    Realogy Corporation, a global provider of real estate and relocation services, reported a net revenue of $1bn for Q209. Its Realogy Franchise Group (RFG) includes the Century 21 and Coldwell Banker brands. It touts its NRT organization is the largest owner/operator of residential real estate brokerages in the US.
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  • Sorrento Names Ozonian Board Chairman

    Private asset management firm Sorrento Capital named Steve Ozonian executive chairman of its board. Ozonian comes to Sorrento after a 25-year career that includes holding a variety of executive positions at Prudential Real Estate Services, Coldwell Banker, Realtor.com and Bank of America. The announcement comes weeks after the Irvine, Calif.-based firm acquired REO.com and announced plans to expand its operation in the residential and consumer finance industries.
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  • The idiocy of the sell-side

    No, not that sell-side. Think real estate. Think realtors, home builders, the people who have to make a sale to justify their very existence -- the same groups now pushing Congress and Treasury to consider installing teaser mortgage rates in an effort to entice borrowers back into housing. Via the Sarasota Herald-Tribune, we're not making this up:
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  • For First-Time Buyers, Expectations May Not Match Reality

    The housing bust is forcing many to reconsider their notions of housing and what it means to be a homeowner, but perhaps no group has been more challenged on that front than the first-time home buyer: mortgages are tougher than ever to get, prices tend to be dropping in most major housing markets, and home prices can vary wildly in the same neighborhood as one seller frantically tries to get out and another doggedly holds the line on what they think their property is worth. And the list goes on.
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  • HUD Settles With Property I.D., Realogy on Kickback Claims

    Officials at the Dept. of Housing and Urban Development said Friday that they had agreed to a $35 million settlement to a federal lawsuit centering on alleged kickbacks paid to real estate brokerages by hazard reporting company Property I.D. Corporation. The settlement terms must still be approved by a judge.
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