Latest news with #JeremyIrwin
Yahoo
3 days ago
- Business
- Yahoo
Gradient Mortgage Capital Launches to Empower Mortgage Professionals with Premier Small Balance Commercial and DSCR Mortgage Lending Solutions
An Affiliate of Saluda Grade, Gradient Offers Tailored Wholesale Loan Solutions for 1–4-Unit Investor Residential and Small Balance Commercial Properties FORT LAUDERDALE, Fla., June 9, 2025 /PRNewswire/ -- Gradient Mortgage Capital, a newly launched wholesale mortgage banking platform, is excited to announce its official market entry, offering innovative financing solutions to mortgage bankers and brokers nationwide. Specializing in Debt Service Coverage Ratio (DSCR) loans for 1-4-unit investor residential properties and Small Balance Commercial Real Estate (SBCRE) loans for a wide variety of property types, Gradient is committed to providing fast, flexible, and reliable lending solutions that help clients scale with confidence. As an affiliate of Saluda Grade, an alternative investment firm specializing in asset-based credit, Gradient benefits from the backing of a firm focused on emerging asset classes and innovative capital solutions. This affiliation provides Gradient with the financial resources to offer mortgage bankers and brokers a competitive edge in a rapidly evolving marketplace. Gradient Mortgage Capital understands that every deal is unique, which is why their loan solutions are designed to help mortgage intermediaries assist entrepreneurial real estate investors at every stage of their journey. Whether their borrower is acquiring their first investment property or refinancing an expanding portfolio, Gradient's streamlined process and commonsense underwriting provide speed and certainty of close, ensuring borrowers get the financing they need when they need it most. "Our mission is rooted in delivering exceptional value through creativity, consistency, and commitment," said Jeremy Irwin, CEO of Gradient Mortgage Capital. "We're here to support our partners with a deep focus on the customer experience, earning your trust by making every interaction reliable, transparent, and frictionless. With Gradient, it's not just about funding transactions; it's about building lasting relationships and helping our partners grow." By combining capital, creativity, and consistency, Gradient offers more than just loans—it builds momentum. With a focus on collaboration, exceptional service, and a commitment to getting deals done right, Gradient provides mortgage professionals with the tools they need to succeed in a competitive landscape. Gradient Mortgage Capital's tagline, "Where Opportunity Meets Altitude," reflects the company's vision to elevate its clients by delivering tailored lending solutions that empower growth, drive success, and unlock new opportunities. For more information about Gradient Mortgage Capital, its DSCR and Small Balance Commercial loan programs, or to become an approved partner, visit About Gradient Mortgage CapitalGradient Mortgage Capital is a wholesale mortgage banking platform and affiliate of Saluda Grade, specializing in DSCR loans for 1–4-unit investor residential properties and Small Balance Commercial Real Estate (SBCRE) loans. With a focus on speed, flexibility, and exceptional service, Gradient empowers mortgage brokers and bankers to deliver tailored financing solutions that help real estate investors scale smarter and more efficiently. About Saluda GradeSaluda Grade is an alternative investment firm specializing in asset-based finance, with a focus on residential real estate. Founded in 2019, the firm has an AUM of $2.5 billion* as of June 1, 2025, and is headquartered in New York City. Disclaimer: This press release is for informational purposes only and does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any securities or investment products. All investing involves risk, including the potential loss of principal.* Saluda Grade acquired Hillcrest Finance, LLC on June 1, 2025. Integration of business operations is ongoing; at this time, the regulatory assets under management (AUM) of the two entities remains as an investment adviser does not imply a certain level of skill or training. View original content to download multimedia: SOURCE Gradient Mortgage Capital, LLC Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
06-03-2025
- Business
- Reuters
Weak refinery, export demand weakens prices for Midland crude along Texas coast
Summary Companies Cold weather impacts about 1.8 mln barrels of Permian output - analyst Midwest refiners seek Midland crude to cut dependency on Canadian light - analyst U.S., Europe refinery maintenances cut demand at the coast Narrow price differential between WTI Midland and MEH expected to be temporary - analysts to be temporary - analysts HOUSTON, March 6 (Reuters) - The price spread between WTI Midland crude in West Texas and Houston has narrowed this year as cold weather hurt Permian production, driving up prices, but weaker refinery and export demand on the U.S. Gulf Coast pressured that market lower. The spread between the two pricing points narrowed to 23 cents in March, the lowest since November 2023. That compared to an average of 50 cents a barrel a year ago, when record crude production at the top U.S. Permian oilfield and strong export demand for WTI Midland crude widened price differentials. WTI Midland crude traded at a $1.08 premium to U.S. crude futures in March, easing from a 11-month high of $1.22 in the previous month, data from pricing agency Argus showed. The jump in prices in February came as 1.8 million barrels in the Permian were cut by the recent cold weather that hit operations, according to estimates from analysts at consultancy Energy Aspects. Meanwhile, Permian-quality crude at the Magellan East Houston (MEH) terminal, the main price assessment point along the Gulf Coast, traded at a $1.31 premium to U.S. crude futures. That compared to a $1.47 premium last year. A 10% tariff by the U.S. government on Canadian crude also pressured the spread as Midwest refiners were seeking WTI-Midland crude to Cushing to replace Canadian light sweet oil, said Energy Aspects analyst Jeremy Irwin. Permian to Cushing pipeline flows are tracking 100,000 barrels per day higher year-over-year for the first quarter, Irwin said. Cushing inventories have been near operational lows in recent months, but climbed to about 25.7 million barrels last week, its highest level in four months. Energy Aspects said it has increased its expectations for flows on the BP 1 pipeline, which runs from Cushing to BP Plc's (BP.L), opens new tab Whiting refinery in Illinois and the Ozark pipeline, which connects Cushing to refineries in Wood River, Illinois, as inland refiners to pull more WTI Midland barrels given tariffs. WEAK DEMAND ALONG THE COAST Four-week average U.S. refinery utilization stood at 85.6% in the week to February 26, data from the U.S. Energy Information Administration showed, as fuel producers undergo maintenance ahead of summer driving season. Net input of crude oil to refiners on average over 4 weeks to the last week was 15.5 million, 4.2% lower than average 2024 levels. Also capping demand was the final shutdown of LyondellBasell Industries' (LYB.N), opens new tab 263,776 barrel-per-day (bpd) Houston refinery this month. U.S. crude export volumes also eased 9,000 bpd to 3.88 million bpd in February, as spring refinery maintenance in Europe cut flows, and as China implemented a 10% retaliatory tariff on U.S. oil. China accounted for about 5% of U.S. crude exports in 2024. America's excess light-sweet supply is struggling to attract international interest, pressuring MEH to soften to attract international buyers, said Irwin. The narrow price differential between WTI Midland and MEH is expected to be temporary, however, Wood Mackenzie analyst Dylan White said, as refinery maintenance season resolves through spring, and on the back of strong Permian production growth and increased use of available pipeline capacity.
