Housing Wire

SEPTEMBER 22, 2023

While the central bank left the benchmark rate unchanged in the target range of 5.25%-5.5% Elevated mortgage rates will lead to more lenders spilling red ink in the latter half of the year, in contrast to the improved financial performance of independent mortgage banks in Q2. Kim: Bankruptcies and layoffs are still happening.

FHA loan 436

FHA loan Bankruptcy Marketing Loans 436

Housing Wire

JANUARY 4, 2024

When assessing December’s Home Equity Conversion Mortgage (HECM) volume data for December 2023, Reverse Market Insight (RMI) used a choice word as the title for its commentary : “thud.” Any time we see exits and consolidations we tend to see a dip in industry production for a time,” McCue said. “In This is a different situation.”

Mortgages 408

Mortgages Bankruptcy Principal Finance 408

Housing Wire

OCTOBER 13, 2022

The financial chaos that sparked the savings and loan crisis of the 1980s, leading to a government bailout, now haunts the independent mortgage banking market this Halloween season — and beyond. The firm specializes in asset-backed credit, whole loans and private equity. There likely will be 40 to 50 deals done this year.

Mortgages 361

Mortgages Marketing Banks Loans 361

Housing Wire

FEBRUARY 5, 2021

“We have assembled the best in the industry and they have provided the rocket fuel to succeed,” Stearns said. At the time, the bankruptcy was being conducted by Blackstone , the private equity giant that acquired a majority stake in Stearns parent company, Stearns Holdings , back in 2015.

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Lending Bankruptcy Mortgages Title 324

Housing Wire

JULY 22, 2022

FGMC) filed for Chapter 11 bankruptcy protection at the end of June — leaving four warehouse lenders on the hook for more than $415 million. Just weeks later, a leaked text message from Flagstar Bank provided an inside look at how dire the current climate is for many non-QM lenders. Non-QM lender First Guaranty Mortgage Corp.

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Lending Banks Bankruptcy Loans 366

Housing Wire

MARCH 28, 2022

Consequently, the hunt is on for opportunities in the purchase market, and that’s why non-QM lending is expected to become a sweet spot in the mortgage market, according to industry observers. UWM recently rolled out bank statement loans targeting the self-employed as well as investor loans.

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Loans Lending Investor Mortgages 351

McKissock

AUGUST 7, 2022

It didn’t help that the Federal Reserve was not strictly regulating the bank’s loan screening and approval process. Therefore, the banks approved mortgages to customers without regard for their ability to repay the loan. This crash didn’t just affect the real estate industry. Why is This Current Housing Crisis Different?

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Pre-approval Bankruptcy Banks Loans 91

Notorious ROB

JUNE 12, 2022

In part 1 , we covered legal and regulatory challenges to the real estate industry. At least one major Wall Street bank, Deutsche Bank, has called for a major recession : Deutsche Bank raised eyebrows earlier this month by becoming the first major bank to forecast a US recession, albeit a “mild” one.

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Investor Banks Bankruptcy Equity 86

The Close

DECEMBER 27, 2022

Preforeclosure and bank-owned properties, or REO. Foreclosure filings begin to increase as financially distressed homeowners no longer have the option to refinance and access their equity, and the tighter market gives them few options to sell or downsize. Even a few bank-owned homes are starting to show up in the MLS.

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Investor Staging Marketing Banks 93

Marco Santarelli

JULY 25, 2022

Instead, they will lose their homes to foreclosure and often file for bankruptcy in the process. The previous housing bubble in the United States in the mid-2000s was caused in part by another bubble, this time in the technology industry. By 2000, the Nasdaq peaked, and when the tech bubble burst, many high-flying equities plummeted.

Marketing 52

Marketing Lending Mortgages Equity 52

HomeLight

AUGUST 16, 2021

You’ll learn how to prospect for distressed properties, how to approach homeowners, how to work with banks, and much more that will position you as the local expert with solutions to help those in need. We have a great listener question about how to become a bank’s go-to agent and much, much more. Christina: Sure.

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Marketing Short sale Bankruptcy Banks 75

HomeLight

DECEMBER 2, 2021

A conservative industry estimate might be six months, start-to-finish. One key difference between them: A short sale is homeowner-generated, while a foreclosure is initiated by the bank. . With a foreclosure, the bank assumes ownership of your home, relieving you of many selling tasks. in equity from 2019 to 2020.

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Short sale Sales Loans Banks 82

Housing Wire

SEPTEMBER 29, 2022

MAXEX is an Atlanta-based fintech company that is backed by leading private-equity and capital-markets investors, including J.P. These new programs will expand our reach with bank-statement and other alternative-documentation loans, interest-only, etc., Morgan Chase.

Marketing 342

Marketing Pre-approval Investor Bankruptcy 342

HomeLight

APRIL 29, 2022

Since its inception, Zillow has become a massive player in the online real estate industry. This site also lists whether a property is in bankruptcy, preforeclosure , or foreclosure. You’ll also be able to see property debt info, equity and profit potential, and ownership information. today Zillow has over 130 million listings.

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Agents Bankruptcy Loans Sales 93

HomeLight

JULY 31, 2021

turn four walls and a roof into money in the bank, without the need for inconvenient showings, nail-biting appraisals , or a 50-day closing. Here’s a little background on what cash buyers tend to prioritize and look for when they make an offer, according to experts in the real estate and investing industry we spoke with directly.

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Earnest money deposit Inspection Inspection contingency Proof of funds 98

Notorious ROB

DECEMBER 19, 2022

Relevant to this thinking is the fact that the term “MLS” is nowhere defined, other than in private industry groups’ own rules and policies. Zillow went into even more detail, but fundamentally, I thought this was Zillow declaring war against the entire mortgage industry. NAR defines what an MLS is. CMLS defines it. Finally, D.R.

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MLS Agents Pre-approval Brokerage 79

Toronto Realty Blog

DECEMBER 19, 2023

In this post, I provided the following reasons: 1) Zoning and approval 2) Economic viablity 3) Financing 4) Bankruptcy 5) The ability to cancel and re-sell without reprisal While a couple of the points are repeated from the previous blog post, the explanations and reasoning are completely different. There’s your starting point!

Pre-approval 82

Pre-approval Construction Development Agents 82

Housing Wire

MARCH 26, 2024

The Home Equity Conversion Mortgage (HECM) program faces stability and viability challenges stemming from the 2022 collapse of a major industry lender and its extinguishment from the HECM-backed Securities (HMBS) program, which could warrant congressional scrutiny if these challenges are not properly addressed by the U.S.

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Bankruptcy Loans Banks Mortgages 327

Housing Wire

MAY 25, 2022

The home itself is a depreciating asset, which makes it difficult for manufactured homeowners to build equity or intergenerational wealth. Manufactured homes are no more vulnerable than site-built homes in extreme weather events, industry groups claim. The loans, called chattel, are rarely refinanced. That means the 17.5

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Finance FHA loan Loans Bankruptcy 371