Skip to main content

Bank Forecloses on Ex-Board Director

Phil Hall
Jun 03, 2016
Now here is something that you don’t see every day: A bank foreclosing on one of its former directors

Now here is something that you don’t see every day: A bank foreclosing on one of its former directors.

According to a South Florida Business Times report, U.S. Century Bank filed a $15.31 million foreclosure lawsuit against Rodney Barreto, who served as a member of the bank’s board of directors from 2003-2012. Barreto is one of Florida’s most influential business executives—he run the lobbying and consulting firm Floridian Partners and as chairman of the Super Bowl Host Committee, successfully secured football’s biggest game for Miami in 2020.

Barreto and his real estate partner Warren Sands were cited by the Doral, Fla.-based bank on five mortgages made from 2007-2009. The foreclosure lawsuit names both Barreto and Sands as loan guarantors, along with the companies that own the properties, which consist of four gas stations and a clubhouse.

Barreto has not publicly commented on the lawsuit, although his attorney stated that he was in settlement discussions and was planning to reach an agreement with the bank.

Jun 03, 2016
loanDepot And mellohome Introduce Home Services Bundle

loanDepot, Inc. and its sister company mellohome are launching a proprietary bundle of home buying and selling services.

Industry News
Jul 30, 2021
Gateway Mortgage Surpasses 165 Mortgage Centers With 10 New Additions

Gateway Mortgage reported significant growth in the company, prompting it to open 10 new locations across Colorado, Idaho, Oklahoma, Texas, Oregon, and Wyoming.

Industry News
Jul 30, 2021
FHFA Requires 30-Day Notice Prior To Eviction

Wednesday, the Federal Housing Finance Agency (FHFA) announced that tenants of multi-family properties must be given 30 days notice to vacate before the tenant is required to leave the premise.

Industry News
Jul 29, 2021
Houston-Based Stewart Acquires Title First Agency

Ohio-Based Agency Has 20 Offices And Operates in 32 States

Industry News
Jul 28, 2021
Planet Home Lending Reports Total Origination Volume Of $6.8B In Q2 2021

Planet Home Lending's total origination volume reached $6.8 billion in Q2 2021, up 77% from $3.9 billion in Q2 2020.

Industry News
Jul 22, 2021
FHFA Ends Controversial Refinance Fee

The FHFA announced that Fannie Mae and Freddie Mac will eliminate the Adverse Market Refinance Fee for loan deliveries, starting August 1, 2021.

Analysis and Data
Jul 19, 2021