Breaking News: Twardock Steps Down
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|Bisnow has learned that Dave Twardock, president of Prudential Mortgage Capital for 13 years, is retiring April 2013.|
|Dave (above) will be replaced by originations head and 24-year Prudential vet David Durning, who will likely keep the Top 5 direct lender on the same course. Reis chief economist Victor Calanog tells us Newark-based Prudential Mortgage, a Reis client, climbed out of the downturn aggressively: ’09’s lending volume was $5.8B, 2010’s $8.8B, and 2011’s $9.7B. It’s on track for $11.6B this year. (But what’s really on Victor’s mind: What becomes of his bet with Dave that the US will have recovered all jobs by May 2014?)|