Housing Wire

JANUARY 11, 2024

In the initial October complaint, TCB alleged that the government-owned company “extinguished, in return for no consideration, TCB’s first priority lien on tens of millions of dollars in collateral” stemming from the Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgage (HECM) program.

Lending 377

Lending Bankruptcy Mortgages Principal 377

Housing Wire

FEBRUARY 23, 2024

To the extent that you can get loans off your balance sheet faster, it lowers your financing costs. In 2023 alone, the mortgage industry saw a total of 62 merger and acquisition transactions, lender exits and bankruptcies. of the purchase loan amount when using a real estate agent from Rocket Homes to find a property.

Equity 375

Equity Bankruptcy Loans Mortgages 375

Housing Wire

SEPTEMBER 22, 2023

Read on to learn more about Duncan’s views on the housing market, loan performance and affordability challenges homebuyers face. For existing homeowners, that’s good news because it means equity accumulation. The servicing side of the business is doing very well because those loans are simply not going to prepay for a long time.

FHA loan 426

FHA loan Bankruptcy Marketing Loans 426

Housing Wire

DECEMBER 27, 2023

The company hopes to reach its goal by growing organically with more loan officers under a dozen business development managers. There were also a few cases of bankruptcy. HousingWire tracked 62 mergers, acquisitions, exits and bankruptcies covered by the newsroom in 2023. bankruptcies. exits and 3.2%

Mortgages 376

Mortgages Bankruptcy Lending Loan Officer 376

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 398

Mortgages Bankruptcy Principal Finance 398

Housing Wire

FEBRUARY 22, 2024

Department of Housing and Urban Development (HUD) Office of the Inspector General (OIG) announced the launch of an inquiry into Ginnie Mae ’s monitoring of now-bankrupt lender Reverse Mortgage Funding (RMF), and its extinguishment from the Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program.

Bankruptcy 349

Bankruptcy Loans Mortgages Equity 349

Housing Wire

NOVEMBER 2, 2020

As a premier provider of innovative, high-performance software, data and analytics for mortgage and home equity lending and servicing, Black Knight is transforming the housing finance industry. Black Knight is a proven mortgage industry leader in servicing technology. Business Lines, Services and Products. Originations.

Lending 383

Lending Bankruptcy Equity Loans 383

Housing Wire

OCTOBER 13, 2022

In the reflection, a mortgage executive sees faint images of the savings and loan crisis of the 1980s and 1990s. 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.

Mortgages 361

Mortgages Marketing Banks Loans 361

Housing Wire

FEBRUARY 8, 2022

Non-QM mortgages include loans that cannot command a government, or “agency,” stamp through Fannie Mae or Freddie Mac. Non-QM loans typically make use of alternative-income documentation because borrowers cannot rely on conventional payroll records or otherwise fall outside agency credit guidelines.

Marketing 346

Marketing Lending Loans Bankruptcy 346

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.

Lending 322

Lending Bankruptcy Mortgages Title 322

Housing Wire

FEBRUARY 18, 2022

Redfin plans to completely revamp its mortgage services in 2022 following the expected acquisition of Bay Equity Home Loans in the second quarter. And while Zillow has scrapped iBuying, which all evidence so far points to as a money-hemorrhaging industry , Kelman said that Redfin will stay the course. “We

Bankruptcy 388

Bankruptcy Brokerage Title Equity 388

Housing Wire

SEPTEMBER 18, 2023

Dark Matter Technologies , formerly Black Knight Origination Technologies, is focused on mainly two things: the smooth transition to new owners, and lowering the cost to originate loans for lenders. How does the company expect to manage profit amid industry consolidation , bankruptcies and attrition?

Technology 461

Technology Mortgages Bankruptcy Industrial 461

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. The bank calls out 16 non-QM lenders in the text message, indicating it is ramping up scrutiny of its loan reviews, prior to advancing warehouse funding.

Lending 363

Lending Banks Bankruptcy Loans 363

Housing Wire

JANUARY 4, 2022

In total, UWM, through its conduit UWM Mortgage Trust, sponsored seven securitization deals last year involving nearly 9,500 loans valued in total at $3.9 In 2021, two of its seven private-label issuances involved jumbo loans with a combined value of $1.2 That’s a strong start for a new issuer. “A

Marketing 310

Marketing Debt-to-income ratio Loans Mortgages 310

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.

Loans 351

Loans Lending Investor Mortgages 351

Propmodo

APRIL 30, 2024

Those in the industry holding out for cuts could soon consider selling assets, handing the keys back to the lenders, or halting projects altogether. After years of high times and low rates, the hangover is lasting longer than the industry wants it to, and people are looking for relief to weather the adverse effects.

Commercial 67

Commercial Bankruptcy Investor Equity 67

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.

Pre-approval 91

Pre-approval Bankruptcy Banks Loans 91

HomeLight

JUNE 16, 2023

The average American household credit card debt is $5,315 , the average student loan debt is almost $39,000 , and the average car loan for a new vehicle is around $44,140. If you’re a homeowner with consumer or student debt, it’s tempting to tap into your home’s equity with a cash-out refinance to pay down these balances.

Fixed-rate mortgage 58

Fixed-rate mortgage Equity Debt-to-income ratio Loans 58

Realty Biz

SEPTEMBER 30, 2023

By comparing loan options, understanding loan terms and interest rates, and exploring resources for mortgage comparison, you can find the right mortgage lender for your financial situation. Seek professional advice: Working with a mortgage professional, such as a loan officer or mortgage broker, can provide valuable guidance.

Finance 97

Finance Debt-to-income ratio FHA loan Mortgages 97

Housing Wire

JANUARY 31, 2022

For more than 50 years, the Black Knight MSP loan servicing system has been helping power servicing operations from loan boarding, payment processing and escrow administration to investor reporting, compliance management, default processing and more. In fact, 42% of MSP clients service fewer than 50,000 loans.”.

Loans 288

Loans Bankruptcy Equity Investor 288

Marco Santarelli

JULY 25, 2022

Instead, they will lose their homes to foreclosure and often file for bankruptcy in the process. Neither the 20 percent interest rates of the early 1980s nor the devastation of the savings and loan sector in the early 1990s led to a similar drop in property values. In response to the technology bust, the U.S.

Marketing 52

Marketing Lending Mortgages Equity 52

Housing Wire

SEPTEMBER 29, 2022

MAXEX , a major mortgage trading and aggregating platform, has unveiled a series of new programs designed to serve originators and loan buyers in the growing non-QM lending market. MAXEX is an Atlanta-based fintech company that is backed by leading private-equity and capital-markets investors, including J.P. Morgan Chase.

Marketing 338

Marketing Pre-approval Investor Bankruptcy 338

Notorious ROB

JUNE 12, 2022

In part 1 , we covered legal and regulatory challenges to the real estate industry. Now, said zombie company is really dead and enters bankruptcy proceedings. Bankruptcies – not yet, but 20% of the 3,000 largest public companies are “zombie companies” . Layoffs are all but inevitable. in return on investment!

Investor 86

Investor Banks Bankruptcy Equity 86

HomeLight

DECEMBER 2, 2021

Along with extensive research, we consulted with Richie Helali , mortgage sales lead at HomeLight Home Loans, and Christina Griffin , a top agent who works with 68% more single-family homes than the average Tampa, Florida, agent, to help decipher the long and short of short sales. Not required to mention on future home loan applications.

Short sale 77

Short sale Sales Loans Banks 77

HomeLight

APRIL 29, 2022

Much like other online platforms created in the late 1990s and early 2000s — think Amazon which primarily sold books and Facebook which was only available to college students — what began as a specialized site has grown into something much larger that now includes home loans, closing services, and Zillow Premier Agents. RealtyTrac.

Agents 87

Agents Bankruptcy Loans Sales 87

Housing Wire

APRIL 22, 2022

It’s a crisis that one industry executive describes as “a situation where we have to get the pig through the belly of the python.”. Non-QM mortgages include loans that cannot command a government, or “agency,” stamp through Fannie Mae or Freddie Mac. You have to sell at some point.”.

Loans 377

Loans Lending Mortgages Investor 377

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. We aim to increase the number of purchase loans, loans per officer, and Zillow Home Loans customer adoption rate. ” Enter Zillow Premier Agent network, and Zillow Home Loans.

MLS 79

MLS Agents Pre-approval Brokerage 79

Housing Wire

MARCH 10, 2022

In four bulletins, the government watchdog warned borrowers of loan modification and foreclosure schemes, outlined scams that could impact reverse mortgage borrowers and said that renters, too, can be targeted by nefarious players. HUD’s home equity conversion mortgage program accounts for most of the reverse mortgage market.

Bankruptcy 317

Bankruptcy Loans Mortgages Title 317

HomeLight

JULY 31, 2021

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. Value-add is the process of remodeling a home or complex to increase the value and add equity,” Shipwash explains. “In Motivated sellers.

Earnest money deposit 98

Earnest money deposit Inspection Inspection contingency Proof of funds 98

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.

Bankruptcy 318

Bankruptcy Loans Banks Mortgages 318

Housing Wire

MAY 25, 2022

The most affordable manufactured homes are financed with private loans with higher interest rates, shorter terms and fewer consumer protections than mortgage loans. The homes financed by these loans come without land, like a car, and the homeowner typically rents the land beneath their home. That means the 17.5

Finance 363

Finance FHA loan Loans Bankruptcy 363