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Origination

ICON Believes in Regional Talent

Icon Residential Lenders recently bolstered the company's West Coast sales team with two notable promotions from within the organization and a new hire joining Icon from 360 Mortgage Group. Rhett Hubbard was promoted to area sales manager for Orange and San Diego counties, and Justin Smith will also take on an upgraded role as area sales manager for Los Angeles, Riverside, San Bernardino, and Ventura counties. New to Icon, Debbie Hood has been appointed as the area sales manager for the Pacific Northwest.

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Mortgage Application Rates Lowest In Months

The weekly data report tracking mortgage applications nationally showed a 0.7 percent drop in volume from last week's numbers, based on a seasonally adjusted composite index. On an unadjusted basis, the index decreased 0.5 percent, compared to the prior week ending March 11. The refinance index had increased by 0.9 percent since last week, making it the highest refinance survey since December 2010.

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Results are in for Gladstone 4Q Report

Gladstone Commercial finishes 2010 with a fourth-quarter FFO of 3.0 million, a 10.1 percent decrease compared to the same period in 2009. The downward movement is attributed to $386,000 in due diligence fees incurred in acquiring a $12.3 million property in Orange City, Iowa, which the Company was required to expense under new accounting guidance rather than capitalize as it had in years past.

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