Editorial Results (free)
1. Industrial Portfolio Sells for $43 Million
- Tuesday, April 01, 2014
4550 Swinnea Road, 6005 Freeport Ave., 3399 E. Raines Road
Sale Amounts: $10.1 million; $14.8 million; $18 million
2. Shelby County Mortgages Jump 12 Percent in February
- Wednesday, March 12, 2014
The latest monthly totals for Shelby County’s mortgage market show homebuying improved somewhat last month, with total mortgage volume up 12 percent compared to February 2013, according to real estate information company Chandler Reports,www.chandlerreports.com.
3. Mortgage Market Grows 3 Percent in 2013
- Tuesday, January 14, 2014
The mortgage market in Shelby County ended 2013 with a modest improvement over 2012, with signs pointing to more advances in 2014.
Banks and mortgage lenders made 8,298 purchase mortgages in Shelby County during 2013, a 3 percent improvement from the 8,027 mortgages during 2012, according to the latest data from real estate information company Chandler Reports, www.chandlerreports.com.
4. Bright Spot
- Friday, December 20, 2013
The Memphis multifamily market turned in a strong performance during 2013, with enhanced investor interest and new units under construction.
Blake Pera, senior vice president of CB Richard Ellis Memphis’ multifamily division, classified the multifamily market in 2013 as healthy and continuing to improve.
5. Methodist Pays $22.5 Million for Germantown Facility
- Tuesday, December 10, 2013
7945 Wolf River Blvd.
Germantown, TN 38138
Sale Amount: $22.5 million
6. Building Permit Filed for Volvo of Memphis
- Tuesday, August 06, 2013
7910 Trinity Road
Cordova, TN 38018
Permit Cost: $2.3 million
Project Cost: $3.5 million
Permit Date: Applied August 2013
Completion: Summer 2014
Owner: Wenco Properties LLC
Tenant: Volvo of Memphis
Architect: Fleming Associates Architects PC
Contractor: Grinder, Taber & Grinder
Details: The ownership group of Volvo of Memphis has filed a $2.3 million building permit for the company’s new dealership at 7910 Trinity Road in Cordova.
7. Ady Joins Ballet Memphis as Ballet Master
- Wednesday, July 24, 2013
James Ady has joined Ballet Memphis as ballet master. In his new role, Ady will teach morning technique classes, assist with community outreach programs, and rehearse and coach dancers for upcoming performances.
8. Jamesbridge Apartments Sell for $3.6 Million
- Tuesday, June 25, 2013
3689 James Road Memphis, TN 38128
Sale Amount: $3.6 million
Sale Date: June 6, 2013
9. Mortgage Activity Sees Small Increase
- Wednesday, June 19, 2013
Mortgage activity was a bit lackluster in Shelby County last month compared to the same time in 2012, judging by the latest data.
Looking forward, though, bankers say the demand is there, the busy season for lenders is well underway and that the purchase mortgage business is at times far outpacing demand for refinances.
10. Magna Bank Executives Garner Distinctions
- Saturday, May 18, 2013
Three Magna Bank employees from the bank’s mortgage division have garnered some new distinctions recently.
11. Magna Bank Executives Garner Distinctions
- Wednesday, May 15, 2013
Three Magna Bank employees from the bank’s mortgage division have garnered some new distinctions recently.
12. Construction Lending Still Facing Tepid Improvement
- Saturday, May 11, 2013
As the economy starts to rebound, local lenders like Magna Bank, First Tennessee Bank and Renasant Bank are seeing moderate improvement in activity for new commercial and residential construction projects, and competition is intensifying to land deals.
13. Mortgages Near $107 Million in April
- Friday, May 10, 2013
From where he sits, Renaissance Realty’s Jeff Jenkins is optimistic that 2013 will be a fruitful one for the local real estate industry.
14. Magna Intent on Raising Profile, Enhancing Services
- Saturday, April 27, 2013
This year is turning out to be a big one for Magna Bank as it rolls out new products and services, adds key personnel and boosts its profile across the Mid-South.
15. Keller Named President of Nonprofit Meritan
- Wednesday, February 27, 2013
Melanie A. Keller has been named president of Meritan Inc. Keller, who joined the nonprofit social services agency in 2006, previously served as its executive vice president. In her new role, she is responsible for oversight of more than 500 employees and contractors as well as the agency’s $21 million annual budget. Keller also manages its quality improvement and strategic planning efforts.
16. Blazing a Trail
- Saturday, February 23, 2013
Susan Stephenson is one of the most accomplished and highly visible women in the Memphis business community. She is the co-founder of Independent Bank, the city’s second-largest bank as ranked by assets and one that largely steered clear of the mortgage mess that dogged competitors during the financial bust.
17. Mortgage Gains Point to Solid 2013
- Tuesday, January 15, 2013
Shelby County’s mortgage market made decent strides during the past 12 months, posting gains over 2011 and foreshadowing a healthy 2013.
Banks and mortgage lenders made 8,028 purchase mortgages in Shelby County during 2012, a 17 percent improvement from the 6,862 mortgages during 2011, according to the latest data from real estate information company Chandler Reports, www.chandlerreports.com.
18. Banks Showcase Artwork, Local Artists
- Monday, January 07, 2013
Since December, Paragon National Bank has been showcasing art pieces from Dogwood Elementary School students at its Saddle Creek bank branch at 7600 Poplar Ave.
19. Hickory Hill Warehouse Sells for $15.7 Million
- Tuesday, December 11, 2012
6380 Holmes Road Memphis, TN 38141
Sale Amount: $15.7 million
Sale Date: Dec. 5, 2012
20. Village of Sycamore Ridge Owner Files $4.3 Million Loan
- Thursday, December 06, 2012
The owner of the Village of Sycamore Ridge – a 114-unit apartment community at 1945 Sycamore View Road near Bartlett – has filed a $4.3 million multifamily deed of trust, absolute assignment of leases and rents and security agreement (including fixture filing) on the property.
21. Storage Facility Owner Files $2 Million Loan
- Tuesday, November 27, 2012
Storage Towne of America LLC has filed a $2 million loan on its 66,802-square-foot storage facility at 5900 Stage Road in Bartlett.
22. Magna Bank on Track for Record 2012
- Monday, November 19, 2012
Several banking industry leaders who have spoken with The Daily News in recent days have said banking in Memphis is seeing a lot of institutions simply taking market share from each other, as opposed to organic growth in the marketplace.
23. Baker Donelson Awards Diversity Scholarships
- Thursday, October 25, 2012
The law firm of Baker, Donelson, Bearman, Caldwell & Berkowitz PC has announced the 2012 recipients of the firm’s diversity scholarship.
They are Stephanie deJesus, Willie Santana and LaToyia Slay.
24. Song and Dance
- Thursday, October 18, 2012
Collectively, Sue Stinson Turner, Lisa Reid and Amy Linthicum have more than a century’s worth of experience in the real estate and banking industries.
25. Q2 Mortgages up 14 Percent
- Tuesday, July 17, 2012
Shelby County’s mortgage market is continuing to turn a corner, with more buyers during the second quarter signing on the dotted line and bankers handing over a shiny new set of keys.
During the second three months of 2012, banks and mortgage lenders in Shelby County made 2,149 purchase mortgages, up 14 percent from the 1,878 mortgages during Q2 2011, according to real estate information company Chandler Reports, www.chandlerreports.com.
26. Greer Elected Vice Pres. Of West Tennessee TAJ
- Wednesday, July 04, 2012
Thomas Greer, partner in Bailey & Greer PLLC, has been elected vice president of the West Tennessee grand division of the Tennessee Association for Justice.
27. MEPPI Files $155M Permit App For Rivergate Plant, Office
- Tuesday, June 12, 2012
2865 Riverport Road
Memphis, TN 38109
Permit Cost: $155 million
Permit Date: Applied June 2012
28. Dodd-Frank Could Have ‘Dire Impact’ On Economy
- Monday, June 11, 2012
As banks nationwide are feeling the pressure of regulatory change like the Dodd-Frank Wall Street Reform and Consumer Protection Act, commercial real estate lending standards by community banks will likely remain stringent for the foreseeable future.
29. $7.5 Million Permit App Filed for Fieldstone Apts.
- Tuesday, June 05, 2012
7986 Tournament Drive
Memphis, TN 38125
Permit Cost: $7.5 million
Permit Date: Applied May 2012
Owner: Fieldstone Apartments III Co.
Contractor: Patton & Taylor Construction Co.
30. CRE Lending Sees Slight Improvement
- Monday, May 21, 2012
The commercial lending landscape in the Memphis area continues to grind its way through an extended period of gradual improvement that began roughly two years ago after a dismal 2009.
“Loans for A- and B-class commercial properties are back. The owners have plenty of choices now,” said Frank Stallworth, president of Magna Bank’s commercial and multifamily division. “There’s no question that values have declined compared to 2007, but for the most part those values have stabilized. 2011 was better than 2010, 2012 is shaping up better than last year, and we expect 2013 to better than 2012 as it relates to occupancies as well as stabilizing and possibly increasing rents in the various sectors of commercial real estate.”
31. Youth Villages 5K Preps for 30th Birthday Bash
- Friday, April 20, 2012
Despite the ups and downs of the residential real estate market over the last three decades, one of the constants for the Memphis Area Association of Realtors is the support of the annual Youth Villages Inc. 5K.
32. Q1 Mortgages Up 12 Percent
- Tuesday, April 17, 2012
As the new year got under way, it didn’t look like Shelby County’s mortgage market was going to be ringing in 2012 with a bang.
By the end of January, the market was in pretty much the same place as it was one year earlier, with total mortgage volume barely budging (to $67 million, barely up from January 2011’s mortgage volume of $65.3 million).
33. CK’s Moves Into Jackson as Part of Expansion
- Friday, March 02, 2012
A longtime Memphis diner chain is expanding its presence into the Jackson, Tenn., market.
CK’s Coffee Shop has signed a five-year lease for 1,390 square feet of the existing 4,900-square-foot Old Medina Market Gas Station at 2800 Old Medina Road.
34. Q4 Mortgages Remain Unchanged
- Monday, January 16, 2012
The last three months of 2011 followed the same pattern of mortgage activity that occurred throughout all of 2011. To use an airline metaphor, the local industry still had ice on its wings during the fourth quarter.
35. Shelby Co. Mortgages Fall 8 Pct.
- Monday, January 16, 2012
It’s still very much a buyer’s market for prospective homebuyers in Shelby County – there’s just not enough of those buyers.
Banks and mortgage lenders made 6,866 purchase mortgages in Shelby County during 2011. That total for the year was down 8 percent from the 7,491 mortgages during 2010, according to the latest data from real estate information company Chandler Reports, www.chandlerreports.com. (Data for this report included purchase mortgages only, not refinances.)
36. Lofty Heights
- Tuesday, January 10, 2012
The Mid-South apartment market is riding high after a strong 2011.
Last year saw increasing occupancies and rents, as well as a shift from investors and lenders back to more stable properties, all of which followed a 2010 that was dominated by activity involving distressed product.
37. Holmes Road Acreage, Lots Sell for $1.6M in Foreclosure
- Monday, December 26, 2011
Property on Holmes Road
Memphis, TN 38109
Sale Amount: $1.6 million
Sale Date: Nov. 18, 2011
Buyer: Renasant Bank
38. September Mortgages Drop 3.2 Percent
- Tuesday, October 11, 2011
The housing market saw a little bit of a pickup in the third quarter compared to Q3 2010 – but the same didn’t hold true for the month of September.
Banks and lenders made 564 mortgages in Shelby County in September 2011, down from 583 in September 2010 – a 3.2 percent drop. That resulted in total mortgage volume for September dropping to $84.7 million from $88.4 million in September 2010. And the average mortgage amount dropped from $151,557 to $150,188.
39. Magna Bank Repays TARP Money
- Wednesday, August 31, 2011
Another Memphis bank is TARP-less.
Magna Bank has redeemed the shares Uncle Sam bought from the bank a few years ago as the economy was in danger of becoming completely unmoored and an industry-wide rescue of the banking sector became necessary.
40. MC Ionic Solutions US Begins Work on Fite Rd. Site
- Tuesday, July 19, 2011
2665 Fite Road
Memphis, TN 38127
Permit Amount: $1.3 million
Permit Date: Applied July 2011
41. Local Companies Working to Navigate Economic Straits
- Monday, June 13, 2011
The financial services business seems like a tough one to be in these days.
Investors have for the last few weeks treated bank stocks like the piñata of Wall Street. Bankers, attorneys and investment professionals have boiled a massive government overhaul of the country’s financial regulations down to clipped phrases like “finreg” and “Dodd-Frank” that they speak of often with a grumble or a shaking of the head.
42. FDIC: Banks Inch to Profitability
- Monday, May 30, 2011
In the first three months of 2011, Tennessee’s banking industry shed workers, got smaller and reported surging profits.
That’s according to newly released figures from the Federal Deposit Insurance Corp., which show that almost 60 percent, or 107, of Tennessee’s 190 federally insured banks reported a pickup in earnings in the first quarter.
43. Lenders See Mortgage Counts Drop
- Wednesday, April 13, 2011
As far as mortgage activity is concerned, the local housing market was still stuck in reverse during the first quarter of 2011.
Total purchase mortgage activity in Shelby County between Jan. 1 and March 31 was down about 10 percent when compared to Q1 2010, according to the latest data from real estate information company Chandler Reports, www.chandlerreports.com (Data for this report included purchase mortgages only, not refinances.)
44. Recovery Roadblock
- Monday, March 21, 2011
As the housing market inches closer to correction, the potential elimination of government-controlled housing institutions Fannie Mae and Freddie Mac could bring the recovery to a screeching halt.
In 2008, Fannie Mae and Freddie Mac were pushed to the verge of collapse, partially because both failed to charge enough for the guarantees they sold to protect lenders and investors, which for decades were fully backed by the government.
45. Red Door Hits First Year by Exceeding Goals
- Friday, March 04, 2011
Red Door Wealth Management, a financial advisory business that has an alliance with local accounting firm Cannon Wright Blount PLLC, just wrapped up its first year in existence this month.
46. Renovations Begin at Pinnacle Headquarters
- Tuesday, March 01, 2011
40 S. Main St.
Memphis, TN 38103
Permit Amount: $8.7 Million
Project Cost: $8.7 million
Permit Date: Applied February 2011
Owner: Memphis Commerce Square Partners
Tenant: Pinnacle Airlines Corp.
Contractor: Grinder, Taber & Grinder Inc.
47. ‘Big 3’ Reflect Local Banking Scene
- Monday, February 21, 2011
One of the most famous aphorisms about politics is that all of it is local. Bankers and other inhabitants of the finance world know the same often goes for them too.
In the run-up to the recession, financial services firms like Citigroup and Bank of America raced to gobble each other up and built sprawling financial supermarkets.
48. Mortgages Drop 11 Percent in 2010
- Tuesday, January 11, 2011
Banks and mortgage lenders made 7,493 purchase mortgages in Shelby County during 2010, a year in which the housing market saw the expiration of a homebuyer tax credit but was helped by continued record-low rates.
49. Most Local Banks on Right Track, Fed Shows
- Monday, November 22, 2010
Most Memphis-based banks are back in the black and are meeting at least the minimum standard to be considered adequately capitalized, according to preliminary third quarter data from the Federal Reserve Bank of St. Louis.
50. Lending Landscape Remains Bleak
- Tuesday, September 14, 2010
Commercial and residential construction lenders continue to see slow activity from developers, making it unlikely much dirt will get pushed on new projects in the next several months.
“We are seeing softness in the commercial market in almost all sectors,” said Rick Hall, executive vice president at Renasant Bank. “Not many projects have been presented, and demand is low for new loans.”
51. Magna Releases Grim Q2 Update
- Monday, September 13, 2010
Executives at Memphis’ third-largest local bank clearly have been spending a lot of time thinking about the future.
Among the highlights at Magna Bank in the second quarter, Magna added mobile banking capability for its debit card customers.
52. Banking Shows Quarterly Improvement
- Tuesday, September 07, 2010
Tennessee’s banking industry is coming back to life, with robust profit and balance sheet improvement to show for it.
Roughly one-third of Tennessee’s 191 federally insured banks (57 banks) were in the red or reported flat earnings in the second quarter, according to new figures from the Federal Deposit Insurance Corp.
53. Youth Isn’t a Hurdle for Red Door Founder Phillips
- Friday, August 27, 2010
The scant number of years John Phillips V has under his belt relative to others in his chosen industry is not lost on him.
54. Magna Bank Forecloses on Three Fletcher Hollow Lots
- Friday, August 20, 2010
Magna Bank has foreclosed on three lots in Fletcher Hollow Planned Development after McLemore Homes LLC failed to pay construction loans, according to two first-run foreclosure notices in the Foreclosures section of today’s Daily News.
55. Brighter Future
- Friday, July 23, 2010
The financial services industry in Memphis is apparently back to thinking about tomorrow, rather than simply making it through today.
Firms are hiring again, deepening their bench strength in key areas, recommitting to a focus on customer relationships – and, in some cases, once more turning a tidy profit.
56. Low Rates Spark Mortgage Activity
- Tuesday, July 13, 2010
Mortgage rates that have fallen to the lowest levels on record are bringing with them a sound loan officers in Memphis no doubt like to hear – the incessant ring of the telephone.
A robust jump in second quarter local mortgage activity coincided with a dramatic plunge in mortgage rates, as rates on 30-year fixed mortgages that already were at historic lows dropped even further during the past several weeks.
57. Magna Strikes Balance With Conservative Approach
- Wednesday, April 14, 2010
In baseball terms, Magna Bank’s just-released annual report depicts a bank that stepped to the plate in 2009 after several innings of bad omens and knocked a few solid base hits.
58. Mortgage Numbers Drop In February
- Thursday, March 18, 2010
Like anyone in the real estate business, mortgage bankers have April 30 circled on their calendars.
That’s when the federal homebuyers tax credit is set to expire, bringing an end to the program that gives cash for a home purchase.
59. Little Guys, Big Guys
- Monday, February 22, 2010
No one would mistake a local institution like Tri-State Bank for one of Wall Street’s mighty titans of finance, whose recent woes brought the U.S. and world economies to their knees.
60. Slow Road to Rebound
- Friday, January 08, 2010
Don’t bother listening for the sound of champagne corks popping.
Instead of celebrating the end of 2009’s financial turmoil, many bankers and industry professionals in the Memphis area are greeting the arrival of a new year with a sigh of relief. And they’re recommitting themselves to game plans cobbled together either last year or back in 2008 to put their institutions on firmer footing.
61. In-Rel Buys Former Comcast Building, Renames it “Quince Centre”
- Tuesday, December 22, 2009
6555 Quince Road
Memphis, TN 38119
Sale Amount: $5 million
Sale Date: Dec. 7, 2009
Buyer: 6555 Quince Building Owner LLC
Seller: BACM 2000-2 Quince Road LLC
Loan Amount: $3.1 million
Loan Date: Dec 7, 2009
Maturity Date: N/A
62. Mixed Signals Remain for Local Banking Industry
- Monday, December 21, 2009
The old proverb about the fear of dismounting a tiger – once you’re riding one, you can’t hop off without becoming easy prey for the beast – seems applicable to the banking industry at the moment.
The tiger it’s riding is an economy marked by delinquent mortgages, companies shedding jobs and unpaid consumer loans stacking up as borrowers fall further behind. As a result of that upheaval, the U.S. government has basically turned into a vast holding company sitting on giant stakes in automakers and hundreds of banks.
63. Magna Bank Reports Stronger Numbers in Q3
- Wednesday, November 25, 2009
It was only a few months ago that Kirk Bailey, chairman, president and CEO of Memphis-based Magna Bank, told shareholders the previous year had been nothing short of cataclysmic for the financial industry.
64. Experts: Mortgage Numbers Still Down, But Rebounding
- Monday, September 21, 2009
It’s hard to find a mortgage banker who doesn’t appreciate the $8,000 first-time homebuyers federal tax credit. The program, set to expire Nov. 30 unless Congress extends it, has provided a spark for the industry as hundreds of thousands of buyers are taking advantage of it.
65. Hyneman Sells Lakeland Outparcel To California Investors
- Tuesday, June 30, 2009
2957 Canada Road
Lakeland, TN 38002
Sale Amount: $2 Million
Sale Date: June 19, 2009
Buyer: Debbie Ann Martinez and Michael Amerio, as trustees of the Debbie Ann Martinez 2003 Trust (50 percent); and Dawn Lizabeth Bubion and Michael Amerio, as trustees of the Dawn Lizabeth Bubion 2003 Trust (50 percent)
Seller: Corner Shops LLC
66. General Motors' Purchasing Chief Steps Down
- Monday, June 15, 2009
DETROIT (AP) - General Motors Corp.'s top purchasing executive abruptly stepped down Friday to pursue what the company said were other career opportunities.
67. AP Source: GM to Sell Hummer to Chinese Company
- Wednesday, June 03, 2009
DETROIT (AP) - General Motors Corp. took a key step toward its downsizing on Tuesday, striking a tentative deal to sell its Hummer brand to a Chinese manufacturer, while also revealing that it has potential buyers for its Saturn and Saab brands.
68. Magna Shareholders Take Stock, Look Ahead
- Wednesday, May 13, 2009
In one sense, Magna Bank’s annual meeting of shareholders Monday was about taking care of business.
Shareholders ratified the bank’s choice of independent auditors, approved a slate of directors and gave a thumbs up to an advisory “say on pay” proposal regarding executive compensation.
69. Magna Limits Banking to Memphis
- Thursday, April 30, 2009
Memphis-based Magna Bank has reached a deal to sell for an undisclosed sum its one bank branch outside the city to Brentwood, Tenn.-based Reliant Bank.
70. Mortgage Business in LaBarreare’s Blood
- Friday, February 27, 2009
When she was a student at the University of Tennessee at Martin, Meribeth LaBarreare wanted to be a teacher, so she pursued an undergraduate degree in education.
Soon after graduating, however, LaBarreare realized teaching wasn’t for her. With her career plans in the air, she began taking assignments from a temporary placement agency in Nashville, which sent her to a mortgage company to do data entry.
71. Year of ‘Havoc’ For Residential Real Estate
- Friday, February 20, 2009
The housing market is in desperate need of a shot in the arm, but only time will tell if the $787 billion economic stimulus bill signed into law this week by President Barack Obama will have a positive impact on real estate.
72. Home Sales Down 24 Percent From Last Year
- Tuesday, December 09, 2008
The housing slump showed no signs of abating in November, as all indicators in the residential market trended downward yet again.
There were 960 home sales in Shelby County during November, a 24 percent decline from 1,265 sales in November 2007 and a 25 percent decline from 1,269 sales in October, according to the latest data from real estate information company Chandler Reports, www.chandlerreports.com.
73. October Mortgages Plummet 33 Percent
- Monday, November 10, 2008
Although his term as president of the Memphis Mortgage Bankers Association (MMBA) extends two more months through the end of 2008, Chris Bowers can begin to reflect on what has been a tumultuous year in his profession.
74. Mortgage Activity Down 35 Percent in Q3
- Tuesday, October 14, 2008
Of all the industries affected by the economic downturn – and there are many – the mortgage business has perhaps taken the biggest hit.
Banks and mortgage companies are reeling from a perfect storm of housing crisis, credit crunch and dwindling consumer confidence, and the numbers prove it with each monthly or quarterly cycle.
75. Maple Grove Development Emerges as Safe Bet for Builders
- Wednesday, September 24, 2008
Construction loans are few and far between these days as builders cope with the housing downturn by financing – and therefore starting – fewer homes.
But some companies are finding ways to buck that trend by targeting the right developments. McLemore Homes LLC, for example, recently took out a $1 million construction loan from Magna Bank to build homes on five lots in Maple Grove planned development Phase II in Arlington, according to The Daily News Online, www.memphisdailynews.com.
76. Racquet Club’s New Owners To Make Improvements
- Tuesday, September 09, 2008
5111 Sanderlin Ave.
Memphis, TN 38117
Sale Amount: $4.4 Million
Sale Date: Aug. 29, 2008
Buyer: Tennis Club of Memphis LLC
Seller: Racquet Club Inc.
Loan Amount: $3 million
Loan Date: Aug. 29, 2008
Maturity Date: N/A
Lender: Regions Bank
77. June Commercial Sales Down 31 Percent
- Thursday, July 31, 2008
New month, same story for Shelby County’s commercial real estate market.
Following a recent trend, June’s sales total was salvaged by a high-profile, high-dollar multifamily transaction that kept the commercial numbers afloat while other property types foundered.
78. Early Voting Starts Today
- Friday, July 18, 2008
Early voting in advance of the Aug. 7 election begins today Downtown.
The ballot features primary contests for state and federal offices as well as county general elections for assessor, General Sessions Court clerk, trustee and Shelby County Criminal Court Division 6 judge.
79. Mortgages Up, National, Local Reports Show
- Monday, July 14, 2008
Federal Reserve Chairman Ben Bernanke said in a speech given last week at a Federal Deposit Insurance Corp. conference in Virginia that the Fed is unveiling new policies this week that will provide a salve to the bruised mortgage market.
80. Commercial Mortgages Decline 31% in May
- Monday, June 30, 2008
Issues plaguing residential lending such as stricter guidelines and shrinking credit tend to garner most of the headlines, but the commercial sector continues to deal with those same problems.
As a result, commercial lending has declined locally and nationally, according to the latest data from the Mortgage Bankers Association and real estate information company Chandler Reports, www.chandlerreports.com.
81. Despite National Application Increase, Local Mortgage Activity Falters
- Monday, June 16, 2008
Mortgage applications have increased nationwide, but mortgage loans in Shelby County continued their downswing in May as lenders grappled with tightened guidelines and weary consumers.
The Washington-based Mortgage Bankers Association last week released its weekly mortgage applications survey for the week ending June 6: It revealed a 10.9 percent increase in applications from the previous week across the U.S.
82. OrthoOne Secures Land For New Facility
- Tuesday, May 13, 2008
3.57 Acres on Market Center Drive
Collierville, TN 38017
Sale Amount: $914,513
Sale Date: April 25, 2008
Buyer: Attilla Group LLC
Seller: MED-A.R.M. Inc.
Loan Amount: $3.5 million
Loan Date: April 25, 2008
Maturity Date: N/A
Lender: Magna Bank
83. Q1 Mortgage Filings Plunge 30 Percent
- Friday, April 11, 2008
Non-commercial mortgages for the first three months of 2008 were down by nearly 30 percent compared to first quarter 2007, according to The Daily News Online, www.memphisdailynews.com.
The numbers and the latest Residential Lender Analysis by real estate information company Chandler Reports, www.chandlerreports.com, suggests money is becoming tighter but not cutting off circulation completely.
84. Stallworth Named Board President At Association of Fundraising Professionals
- Wednesday, March 26, 2008
Virginia Stallworth is the new president of the board of directors for the Association of Fundraising Professionals.
Stallworth has served on the board since 2005. She is the associate director at the Memphis Child Advocacy Center, where she has worked for nine years. Stallworth also serves on the board of directors for the Memphis Area Women's Council.
85. Shoemaker Financial's Allen Earns Circle of Excellence
- Wednesday, February 13, 2008
Frank Allen, a certified financial planner and financial adviser with Shoemaker Financial, has achieved the Circle of Excellence award from Securian Financial Services for his performance in 2007.
86. Archived Article
- Tuesday, October 16, 2007
Sale Amount: $ 2 million; $2.1 million ($4.1 million total)
Sale Date: Sept. 27, 2007
87. Local Investment CompanyBuys Collierville Property
- Monday, October 15, 2007
Local investor Grant Properties LLC has bought vacant lots in Collierville's The Villages at Porter Farms in Collierville. Two sales deeds for $2 million and $2.1 million were signed Sept. 27.
88. From Overton Park to Shelby Farms, Newman No Stranger to Conservancy
- Thursday, October 11, 2007
Had he stopped with the famous case he helped win more than three decades ago, Charles Newman's legal career already would have reached a zenith other lawyers could only dream of matching.
As a young attorney in 1971, Newman fought Citizens to Preserve Overton Park v. Volpe all the way to the U.S. Supreme Court. The stakes were high; at issue was a decision by then-U.S. Secretary of Transportation John Volpe that would have seen the completion of Interstate 40 in Memphis slice through Midtown's Overton Park.
89. Archived Article
- Tuesday, September 25, 2007
40 lots in Shelby
And DeSoto counties
Loan Amount: $3.6 million
Loan Date: Sept. 13, 2007
Maturity Date: Sept. 20, 2012
90. Whitehaven's Hillcrest Apartments Gets $2M+ Makeover
- Tuesday, September 25, 2007
1370 Raines Road
Memphis, TN 38116
Sale Amount: $3.8 million
Sale Date: Sept. 1, 2007
91. Methodist's Marshall to Serve On American Heart Association Board
- Wednesday, September 05, 2007
Barry S. Marshall, administrator of Clinical Business Development and Cardiovascular Service Line at Methodist University Hospital, has been named to a three-year term on the board of directors of the Shelby County Division of the American Heart Association. Marshall joined Methodist in 2004 as the director of the Transplant Institute at Methodist University Hospital.
92. Subprime Fallout Could be Boon for Apartments
- Tuesday, August 28, 2007
If any industry stands to gain from the subprime lending debacle, in which foreclosures continue to escalate, it's the multifamily market. Because as people lose their homes and look for a place to land, their only option is renting.
93. Jumbo Loans Take National Hit
- Friday, August 24, 2007
Bad news on the housing front isn't limited to sky-high foreclosure rates and bankrupt mortgage companies. Even the cost of financing an expensive home has been affected by the subprime lending fallout.
94. Fascination With Law Drives McDonald Kuhn's Nahmias
- Thursday, July 26, 2007
The first law book Evan Nahmias ever picked up was about a case involving legendary Beatles guitarist George Harrison. That famous name caught the eye of Nahmias, who then was an undergraduate student at the University of Arizona.
95. UTHSC's Netland Honored by American Academy of Ophthalmology
- Wednesday, June 27, 2007
Dr. Peter A. Netland will receive the Senior Achievement Award from the American Academy of Ophthalmology at its annual conference this fall.
Netland, a Siegal Professor of Ophthalmology at the University of Tennessee Health Science Center (UTHSC), is the director of the Glaucoma Service and vice chair for academic affairs for the UTHSC Department of Ophthalmology. He is also the site leader in Memphis for the Congressional Glaucoma Caucus.
96. Quest for Greatness at Heart of Magna Name Change
- Friday, June 01, 2007
Inspiration can come from anywhere, and for Magna Bank president and CEO Bill Menkel it came in the form of a book.
When Menkel worked for the old National Bank of Commerce (NBC), he became familiar with a guide for business leaders called "Good to Great: Why Some Companies Make the Leap ... and Others Don't," and he brought the principles outlined in the book to Magna - or 1st Trust Bank for Savings as it was called for eight years before changing its name last week.
97. Archived Article
- Tuesday, May 29, 2007
15 buildings in
Bartlett Industrial Park
Sale Amounts: $20.7 million; $9.4 million; $2.9 million; $1.5 million; and $1.2 million
Sale Date: May 17, 2007
98. 1st Trust BankPlans Name Change
- Wednesday, April 18, 2007
Memphis-based 1st Trust Bank will change its name to Magna Bank, pending approval from shareholders at a May 14 meeting at the East Memphis Hilton Hotel. A week later, Magna will unveil its new logo and signage.
99. Internet Pioneer Now Sits at Helm of Giant Immigration Firm
- Thursday, September 21, 2006
Gregory "Greg" Siskind is founding partner of Memphis-based Siskind Susser PC Immigration Lawyers, which recently merged with New York-based Eric Bland Law Firm to form Siskind Susser Bland PC. Siskind now is a partner in the newly formed firm.
100. Rhodes Professor Inducted Into Mock Trial Coaches Hall of Fame
- Thursday, May 18, 2006
The American Mock Trial Association recently inducted Rhodes College political science professor Marcus Pohlmann into its newly established Mock Trial Coaches Hall of Fame. Pohlmann is one of four inaugural inductees and will begin his two-year term as president in June.