Housing Wire

MARCH 26, 2024

Just for a moment, let’s imagine a world in which a person purchases a home shortly before a global pandemic. Even though they have a low mortgage rate on their home loan, the pandemic causes unanticipated financial hardships which lead to a decrease in their annual income as well as the necessity of using credit cards for their basic needs.

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Housing Wire

APRIL 18, 2024

The report defines a critical defect as one that “would result in the loan being uninsurable or ineligible for sale.” A large portion of those loans, once repurchased from the government-sponsored enterprises (GSEs) at par, were later resold for much less in the so-called “scratch and dent market.

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Loans Due diligence Investor Technology 360

Keeping Current Matters

JUNE 10, 2021

Lehman Brothers) and many more into bankruptcy. We told banks they needed more reserves and that they could no longer underwrite toxic mortgages. Here are the results of that regulation, captured in a graph depicting the number of failed banks since 2007. However, it hasn’t rattled the world economy.

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Bankruptcy Banks Short sale Industrial 239

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 pressure cooker prompting that dire prediction is being heated by persistent inflation and rising interest rates. Storm Brewing.

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Housing Wire

AUGUST 11, 2022

The magnitude of rapidly rising rates impacted our residential mortgage banking business, while demand for shorter-term financing from our business-purpose lending borrowers [including bridge loans and single-family rental property loans] proved more resilient.”. Likewise, Atlanta-based A ngel Oak Mortgage Inc. , The Angel Oak Cos.

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Mortgages Loans Residential Lending 374

Realty Biz

AUGUST 29, 2022

Many more homes have been sold since then and some have even gone through short sales. But what is a short sale exactly, and how is it any different than a regular sale, bankruptcy, or foreclosure? How does a short sale affect you as a homeowner? Are there any benefits of short sales compared to other options?

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Housing Wire

SEPTEMBER 9, 2022

That cap doubled starting in September, meaning the central bank going forward will now allow up to $35 billion per month in MBS to roll off its balance sheet as the securities mature. In July and August of this year, there was a total of 25 residential mortgage-backed securities (RMBS) deals secured by mortgage pools valued at $8.3

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Housing Wire

MAY 10, 2022

Hill also was accused of defrauding his employer out of $480,000 in sales commissions. He later found himself the target of a federal investigation that alleged the criminal conspiracy he engaged in resulted in more than $21 million in fraudulent mortgage loans being originated, many insured by the FHA. Million — [Tampa, Florida].

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Mortgages Marketing Loans Finance 375

Housing Wire

DECEMBER 27, 2022

Other smaller lenders, including real estate tech startup Reali and Sprout Mortgage , shuttered, while First Guaranty Mortgage Corp filed for Chapter 11 bankruptcy. non-Bank financial institutions at Fitch Ratings. Marty Green thinks of the housing market in 2022 as two very different movies. over asking price. High octane stuff.

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Housing Wire

MAY 13, 2021

A Bank Statement loan allows bank statement submissions instead of tax returns. Portfolio Select is a good option for those just two years out of foreclosure, short sale, bankruptcy or deed-in-lieu. Portfolio Select is a good option for those just two years out of foreclosure, short sale, bankruptcy or deed-in-lieu.

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Loans Bankruptcy Investor Short sale 233

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. Garth Graham, senior partner at stratmor group.

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Housing Wire

DECEMBER 21, 2021

The pool of non-QM borrowers includes real estate investors, property flippers, foreign nationals, business owners and the self-employed, as well as a smaller group of homebuyers facing credit challenges, such as past bankruptcies. Morgan , the investment bank side of New York-based banking holding company JPMorgan Chase & Co.

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Marketing Loans Investor Bankruptcy 340

Housing Wire

OCTOBER 10, 2023

I think folks tend to get creative and take a bit more risk than they might be willing to take in a market where rates are lower,” Holly Bunting, a partner at Mayer Brown in the areas of residential mortgage banking and consumer finance, said in an interview. “I And the market has gotten much darker over the last few years.

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Loan Officer Loans Brokerage Mortgages 404

Realtor.com

MARCH 24, 2021

Many of these loans are held in bank portfolios, where the bank has considerable discretion to offer the type of relief it sees fit, while others are owned by smaller investors or packaged into private-label securities, where the deal documents can govern what types of relief servicers can offer to borrowers.

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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. The loans, called chattel, are rarely refinanced.

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Finance FHA loan Loans Bankruptcy 352

HomeLight

MARCH 16, 2023

Do you need to connect with cash home buyers in Houston for a fast sale? Whatever your reason for needing a quick sale without making expensive repairs, Houston is teeming with cash home buyers ready to make you an offer no matter your home’s condition. Need to Sell Your House Fast in Houston? No showings, no repairs, no open houses.

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The Close

JULY 23, 2022

Begin with an MLS search of the past 12 months’ sales in the area your client is looking. In my 27 years as an agent and coach, I have never seen inventory this low. Many agents who work predominantly with buyers grumble that they have too many buyers and not enough listings to show them. Download the Best FSBO Scripts.

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Bankruptcy Purchase and sale agreement MLS Investor 111

HomeLight

DECEMBER 2, 2021

One of them is a short sale. The process is complicated and confusing, often leaving a worrisome question in its wake: How long does a short sale stay on your credit? What is a short sale? A short sale is an alternative to foreclosure in which the homeowner gets permission from the lender to sell the home for less than is owed.

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Short sale Sales Loans Banks 79

CT Homes

FEBRUARY 3, 2022

A defining term that emerged shortly after the collapse was the “short sale”. In the years following, short sales were the driving force behind a majority of all total real estate transactions. While the overall number has greatly declined in recent years, there are still a good number of short sale transactions happening every day.

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Short sale Sales Pre-approval Principal 52

Toronto Realty Blog

MARCH 1, 2023

Remember, developers can start pre-sales before they have a final design or approval, and of course, they can always change the design. We talked a lot about sales on Monday as a reason for delays. TorontoRealtyBlog Sometimes, a delay is just a delay. And other times, a delay is just the first step along the road to a cancelation.

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HomeLight

AUGUST 16, 2021

As Richie Helali , mortgage sales leader at HomeLight Loans explains “You have to actually report the income. The mortgage loan process is pretty messy! It’s easy to forget an important document when you’re busy looking at houses and figuring out which one best suits your needs and budget. Identification. Source: (NATNN / ShutterStock).

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Loans Mortgages Bankruptcy Purchase and sale agreement 103

HomeLight

JULY 30, 2021

When you apply for a mortgage , you’re essentially asking a bank to hand you hundreds of thousands of dollars with the promise to pay it back over the next 15 to 30 years. The bank will ask for a list of mortgage documents to prove you’ll be able to repay the loan. Bankruptcy discharge papers. Can you blame them?). Rent history.

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Loans Mortgages Bankruptcy Purchase and sale agreement 98

Housing Wire

JUNE 28, 2021

The remote work was a further dislocation for an industry tied up in a most concrete transaction – the home sale – and yet abstracted in its duties, unclear in its worth. The remote work was a further dislocation for an industry tied up in a most concrete transaction – the home sale – and yet abstracted in its duties, unclear in its worth.

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Bankruptcy Loans Industrial Mortgages 397

HomeLight

MAY 24, 2022

Even though it’s all cash to the sellers at closing, with a cash offer, “you don’t have to go through the appraisal or the bank approval process — it’s cleaner.”. A cash sale: Start to finish. With a cash sale, you can skip a few steps in the typical closing process. Why pay cash for a home? Why does it take this long?

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Purchase and sale agreement Closing Title search Title 101

The Close

DECEMBER 27, 2022

Real estate sales by unit. Preforeclosure and bank-owned properties, or REO. But it took time and experience to figure out the particular moments in a real estate market cycle that are better for different types of investing. Unfortunately, we as investors are mere mortals and don’t have infinite time on this earth. Stage 1: The Turn.

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Realtor.com

JULY 2, 2021

Ross eventually put the property into bankruptcy and the saga of attempted sales efforts commenced. The agent, Anthony Marguleas of Amalfi Estates, who became involved with the listing after the bankruptcy court took ownership of the property this year, came up with the rebranding of the property, harking back to its tycoon days. “I

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Bankruptcy Marketing Design Agents 105

Point2Homes

AUGUST 12, 2020

An uptick in Canada’s home prices might seem unlikely amid the COVID-19 crisis, particularly when the economy is facing significant job losses and a record-high number of bankruptcie s. Pittis points to increased sales numbers and prices for homes in two of Canada’s largest cities, Vancouver and Toronto. compared to June 2020.

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Bankruptcy Banks Loans Sales 96

Fancy Pants Homes

MAY 13, 2022

is once again trying to bank a $100+ million sale. Just one year after it sold at auction — banking a somewhat modest $51 million — the sprawling estate re-surfaced on the market with a $120 million asking price. Forbes estimates his worth at $18.5 Villa Firenze in North Beverly Park. Villa Firenze interiors.

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Bankruptcy Title Residential Banks 126

Kyle Handy

JANUARY 20, 2023

They’re someone investing in and improving their community. They’re putting old and damaged housing stock back onto the market. So, in looking for “distressed sellers,” what I’m looking for is people that I can help the most. So, let’s look deeper at my favorite strategies for finding houses to flip.

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Realty Biz

AUGUST 31, 2021

You are probably looking for a quick sale because you are facing foreclosure, bankruptcy, going through a divorce, or just need to sell and leave the state. In the case of a cash buyer, the closing process can take place much faster since they are not waiting for financing approval or bank financing.

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Bankruptcy Renovation Finance Staging 64

RIS Media

JANUARY 29, 2021

A lender may instead base its decision on information contained in bank statements. After a bankruptcy, foreclosure or short sale, a prospective homebuyer may have to wait a period of time before taking out a new prime mortgage. Most mortgage lenders require a down payment. An Alt-A loan may be available sooner.

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Debt-to-income ratio Mortgages Bankruptcy Loans 91

The Close

JUNE 22, 2023

According to the National Association of Realtors’ latest existing-home sales data , sales are down 23.2% According to the National Association of Realtors’ latest existing-home sales data , sales are down 23.2% Right now might seem like a frightening time to jump into real estate investing. It’s a fair question!

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Investor Debt-to-income ratio New Construction Construction 116

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. Christina’s course: Working with Foreclosures and Short Sales. HUD Homes for Sale. Links and Show Notes.

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Realty Biz

JUNE 7, 2021

Credit Unions and large banks sometimes take a bit longer than other mortgage lenders. As long as everything proceeds smoothly, there should be no reason you can’t complete the time frame agreed upon in the purchase and sale agreement regarding the closing. What Is The Time Frame For Closing on a Home? Final walk-through.

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Closing Purchase and sale agreement Inspection Title 120

Realtor.com

JANUARY 18, 2022

” The project comes during a severe shortage of homes for sale, just as more people are looking for homes in Florida. .” ” The project comes during a severe shortage of homes for sale, just as more people are looking for homes in Florida. A Realtor.com analysis of sales of U.S.

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Fancy Pants Homes

JULY 14, 2022

Also known as the Beverly House (or the Godfather house, or the Bodyguard house, take your pick), it’s long been one of the most expensive houses for sale in Beverly Hills, having last been listed in 2018 for $135 million, down from its ambitious initial ask of $195 million. They’re all tied, in one way or another, to the house at 1011 N.

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Bankruptcy As-is Land Sales 111

Realtor.com

JULY 2, 2021

Ross eventually put the property into bankruptcy and the saga of attempted sales efforts commenced. The agent, Anthony Marguleas of Amalfi Estates, who became involved with the listing after the bankruptcy court took ownership of the property this year, came up with the rebranding of the property, harking back to its tycoon days. “I

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Bankruptcy Marketing Design Agents 66