Bankruptcy Industrial Loans Principal 
Housing Wire
JUNE 4, 2024
Hometown Lenders has filed for Chapter 11 bankruptcy protection in Alabama, blaming the Federal Reserve’s policy to curb inflation for its debacle. Most were conventional (67%) and purchase (75%) loans. The Modex data shows that it originated about $900 million in loans that year. billion in 2022, compared to $5.5
Housing Wire
NOVEMBER 9, 2022
The steady drumbeat of dour news in the mortgage industry punctuated by headlines announcing layoffs and closures among the ranks of independent mortgage banks continues to play out, with several lenders over the last two weeks adding to the torrent of pink slips. Some 80% of the volume in our industry is done by about 40% of the LOs.
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Housing Wire
JANUARY 11, 2024
Ginnie Mae: loans are our ‘absolute property’ In a filing to the court submitted on Wednesday, Ginnie Mae — using its official acronym “GNMA” in court filings — said that TCB cannot challenge the authority the company maintains over the reverse mortgage securities program. TCB’s interest, Ginnie Mae said, “derived entirely from RMF.”
Housing Wire
DECEMBER 27, 2022
The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. The elevated mortgage rate environment has created a mortgage rate lockdown effect of sorts, limiting the pool of customers for the mortgage industry. Layoffs, LOs leaving the industry for good. over asking price. High octane stuff.
Housing Wire
JANUARY 4, 2024
Endorsement volume falls slightly While not a pronounced drop, HECM endorsements fell 3% to end the month with 2,190 loans, but that general drop came with a few notable exceptions according to RMI. Any time we see exits and consolidations we tend to see a dip in industry production for a time,” McCue said. “In This represents $15.6
Housing Wire
AUGUST 9, 2022
A closer look at WMC’s books, however, shows that as of June 30 its residential whole loan portfolio, nearly all of which is comprised of non-QM loans, was underwater by some $44 million. That’s based on a comparison of the principal balance of the loans on the books and their fair market value as reported by the REIT as of that date.
Housing Wire
MARCH 23, 2022
Minneapolis-based CarVal Investors , a global alternative investment manager and long-time player in the mortgage market, has launched a real estate mortgage investment conduit, or REMIC, that plans to work with loan originators around the country to develop and acquire innovative nonagency mortgage products.
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