Housing Wire

JUNE 30, 2022

(FGMC) and its holding company, Maverick II Holdings LLC, filed for Chapter 11 bankruptcy protection Thursday, June 30, leaving one of the country’s major warehouse lenders as its largest unsecured creditor, according to court filings. The lender then filed for Chapter 11 bankruptcy on Thursday, June 30. million.

Bankruptcy 370

Bankruptcy Banks Finance Lending 370

Housing Wire

JANUARY 17, 2024

The bankruptcy plan administrator for Reverse Mortgage Investment Trust (RMIT), the parent company of former industry lender Reverse Mortgage Funding (RMF), has filed a court petition to convert from Chapter 11 bankruptcy to Chapter 7 bankruptcy. TCB and Ginnie Mae dispute RMIT filed for Chapter 11 bankruptcy in November 2022.

Bankruptcy 430

Bankruptcy Finance Loans Mortgages 430

Housing Wire

AUGUST 25, 2023

filed for Chapter 11 bankruptcy protection in Delaware, just two months after it got back into the forward mortgage origination business. Bankruptcy Court for Delaware. Other creditors in the AmeriFirst bankruptcy with unsecured claims exceeding $500,000 include – RCP Customized Credit Fund ($5.97 million, court pleadings show.

Bankruptcy 370

Bankruptcy Mortgages Loans Lending 370

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. “After exhausting all reasonable alternatives, Debtor has determined that a resolution outside of this Bankruptcy Court cannot be fairly and equitably achieved,” it states.

Bankruptcy 408

Bankruptcy Banks Principal Investor 408

Housing Wire

NOVEMBER 14, 2024

stock market, companies like Finance of America (FOA) and Ellington Financial — the parent of reverse lender Longbridge Financial — have recently released their third-quarter 2024 earnings results. With several top 10 reverse mortgage lenders now active in some form within the U.S.

Investor 368

Investor Mortgages Bankruptcy Equity 368

Housing Wire

NOVEMBER 21, 2024

UBS analyst Douglas Harter recently made waves after he took a closer look at the stock of reverse mortgage industry leader Finance of America (FOA). Harter downgraded the company’s stock rating on from “buy” to “neutral” even after it reported strong earnings results in the third quarter of 2024.

Bankruptcy 359

Bankruptcy Finance Equity Mortgages 359

Housing Wire

NOVEMBER 27, 2023

Additionally, Veev also stopped paying interest payments on some of its properties in California. The company attributed its difficulties to “the challenging economic environment and declining real estate prices.” Veev’s business model is innovative: it provides pre-inspected, fully cladded walls directly to homebuilders , ready for installation.

Bankruptcy 458

Bankruptcy Inspection Investor Staging 458

Housing Wire

DECEMBER 8, 2020

In all, the Justice Department said the three lenders didn’t comply with federal bankruptcy procedures, which affected a total of 76,000 accounts beginning in 2011. The bank also waived approximately $43 million in fees across its mortgage servicing portfolio, including for borrowers in bankruptcy. Meanwhile, U.S.

Banks 410

Banks Bankruptcy Finance Mortgages 410

Housing Wire

JANUARY 5, 2021

Blackstone took full control of Stearns in fall 2019 after it exited bankruptcy due to significant debt problems. Guaranteed Rate ended the year as the 11th-largest lender in the country, according to Inside Mortgage Finance. The Chicago-based lender had two loan originators eclipse $1 billion in originations in 2020.

Lending 538

Lending Bankruptcy Loans Brokerage 538

Housing Wire

JUNE 13, 2025

Kind Lending , a national wholesale mortgage lender and his second brainchild, is built on lean operations and a focus on efficiency — a contrast with his first company, Stearns Lending, which filed for Chapter 11 bankruptcy in 2019. Inside Mortgage Finance (IMF) reported that Kind Lending originated $7.5 He’s not wrong.

Mortgages 213

Mortgages Lending Purchase and sale agreement Bankruptcy 213

Housing Wire

APRIL 10, 2024

The company also said it “continues to evaluate new products to reach additional segments of the population facing a retirement gap,” and describes recent reverse mortgage industry consolidation following influential industry changes in 2017 and the 2022 bankruptcy of Reverse Mortgage Funding (RMF). “As

Investor 421

Investor Bankruptcy Finance Equity 421

Housing Wire

AUGUST 15, 2024

8 was a nearly 400-page appendix of agreement terms, program information and correspondence between Ginnie Mae, TCB and leaders at Reverse Mortgage Funding (RMF), the former lender at the center of the dispute that filed for bankruptcy in late 2022. The first filing made on Aug.

Bankruptcy 436

Bankruptcy Banks Development Loans 436

Housing Wire

DECEMBER 27, 2023

nationally, per Inside Mortgage Finance (IMF) estimates. There were also a few cases of bankruptcy. HousingWire tracked 62 mergers, acquisitions, exits and bankruptcies covered by the newsroom in 2023. bankruptcies. By the same measure, Guild had just 1.1% M&A deals comprised 79% of the total, followed by 17.7%

Mortgages 421

Mortgages Bankruptcy Lending Loan Officer 421

Housing Wire

MARCH 6, 2024

Sagent’s solutions include Loanserv, a servicing system of record powering collections, accounting, escrows, investor management and customer care; Tempo, a default management system of record powering loss mitigation, foreclosure and bankruptcy; and Account Connect, a customer care and retention system. billion in volume, an increase of 19.9%

Bankruptcy 412

Bankruptcy Loan Officer Mortgages Finance 412

Housing Wire

JUNE 7, 2024

According to a Worker Adjustment and Retraining Notification Act (WARN) notice sent to the state authority, jobs cut include professionals in activities related to bankruptcy, customer care, default, foreclosure and valuations, among others. year over year, according to Inside Mortgage Finance (IMF) estimates. Newrez, a top-five U.S.

Bankruptcy 422

Bankruptcy Loan Officer Principal Loans 422

Housing Wire

NOVEMBER 2, 2023

million settlement with Sprout Mortgage for unpaid wages after a request from the shuttered lender to halt the agreement due to an involuntary bankruptcy petition was filed by three creditors. Strauss founded Sprout six years after paying $2.45 Smart Rate Mortgage, LLC is no longer licensed as a residential mortgage company in Illinois.

Loan Officer 441

Loan Officer Bankruptcy Loans Residential 441

Housing Wire

SEPTEMBER 12, 2024

The CFPB’s investigation found that for several years, TD Bank repeatedly gave inaccurate account information to consumer reporting companies, which at times contained systemic errors about personal bankruptcies and credit card delinquencies, the bureau said Wednesday. year over year, according to Inside Mortgage Finance estimates.

Banks 386

Banks Bankruptcy Finance Mortgages 386

Housing Wire

APRIL 1, 2024

Recorded in property records since 2018, right-to-list agreements can be misleading in many instances, and they can create “impediments and increase the cost and complexity of transferring or financing real estate in the future,” according to a news release from the American Land Title Association (ALTA), which supports the legislation.

Title 420

Title Bankruptcy Land Finance 420

Housing Wire

JANUARY 3, 2024

Reverse mortgage servicing company Celink is seeking the dismissal of a lawsuit alleging that it had added unlawful servicing fees to reverse mortgage loans alongside now-bankrupt lender Reverse Mortgage Funding (RMF). In response to the recent recommendation by a magistrate judge against the dismissal of Dancy-Wilkins v.

Bankruptcy 417

Bankruptcy Loans Mortgages As-is 417

Housing Wire

MAY 13, 2024

Broeksmit added that the report “fails to consider the adverse impacts the Basel III Endgame proposal would have on the mortgage market, which, if implemented as proposed, would push banks further out of the business and make it more difficult for them to provide the vital financing that sustains IMBs.” Treasury Secretary Janet L.

Bankruptcy 450

Bankruptcy Finance Mortgages Banks 450

Housing Wire

FEBRUARY 23, 2024

TCB claims that it dealt with Ginnie Mae in good faith, having lent “millions of dollars in much-needed financing to help the collapsing [RMF] continue making payments to senior citizens as part of a mortgage program critical to the federal government.” The Government’s motion should accordingly be denied.”

Banks 404

Banks Bankruptcy Lending Finance 404

Housing Wire

DECEMBER 10, 2021

In the world of mortgage-financing, there exists a product line defined by what it is not — non-qualified mortgage (non-QM), non-prime, non-agency or an alternative-documentation loan. Non-QM mortgages also go to a slice of borrowers facing credit challenges — such as a recent bankruptcy or slightly out-of-bounds credit scores.

Loans 479

Loans Lending Bankruptcy Mortgages 479

Housing Wire

JUNE 14, 2024

New filings The filing, posted to the court docket on Friday morning, shows the immediate bankruptcy concern of leaders at RMF and the lack of willingness from other reverse mortgage industry participants to assume control of the full loan portfolio. It is RMF’s responsibility to find an orderly solution to its upcoming purchase obligations.

Bankruptcy 421

Bankruptcy Banks Loans Lending 421

Housing Wire

JANUARY 26, 2024

Finance of America Companies (FOA) received 26 complaints, while American Advisors Group (AAG) — which was acquired by FOA last year — received 17 complaints. Reverse Mortgage Investment Trust (RMIT), the parent company of Reverse Mortgage Funding (RMF), recorded five complaints in 2023 despite filing for bankruptcy at the end of 2022.

Mortgages 437

Mortgages Bankruptcy Industrial Closing 437

Housing Wire

SEPTEMBER 8, 2022

Are we really doing those types of loans and promoting homeownership again without understanding the risks? Well, it isn’t 2008, but this type of loan does have risk — and it’s the risk that is traditional among all late economic cycle lending in America when the loan requires low or no downpayment. It’s not an investment.”.

Loans 544

Loans Banks Bankruptcy Equity 544

Housing Wire

MARCH 3, 2022

There are many reasons why securitization works so well and why the ability to originate and finance a loan is as reliable as turning on your tap and knowing it will produce water. One of the critical mechanisms of securitization is the separation of the underlying assets from the bankruptcy risk of the mortgage bond issuer.

Bankruptcy 378

Bankruptcy Investor Fixed-rate mortgage Loans 378

Housing Wire

MAY 20, 2024

After that, he spent about three years at the Federal Housing Finance Agency (FHFA), where he became deputy director and the chief fintech officer. Cave spent nearly three decades in executive roles at the Federal Deposit Insurance Corp. He left the FHFA in February.

Bankruptcy 416

Bankruptcy Finance Mortgages Banks 416

Housing Wire

MAY 30, 2024

The news was first reported by Inside Mortgage Finance. The news was first reported by Inside Mortgage Finance. on Wednesday. The announcement was reportedly met with applause from attendees. The announcement was reportedly met with applause from attendees.

Bankruptcy 439

Bankruptcy Loans Equity Development 439

Housing Wire

JANUARY 4, 2024

For instance, the AAG brand still remains despite the FAR acquisition, but the exit of Open Mortgage and the ongoing ripples caused by Reverse Mortgage Funding (RMF)’s bankruptcy will likely impact the business more notably, he explained. The obvious culprit is still rates. This is a different situation.”

Mortgages 449

Mortgages Bankruptcy Principal Industrial 449

Housing Wire

AUGUST 3, 2022

According to data from Inside Mortgage Finance , New American Funding originated $9.1 The most recent layoff came on Tuesday when the California-based lender eliminated several hundred positions, including loan officers, mortgage underwriters, processors and training specialists, multiple former employees said.

Bankruptcy 421

Bankruptcy Loan Officer Mortgages Loans 421

Housing Wire

JANUARY 22, 2024

2023 , MV Realty filed for Chapter 11 bankruptcy in the 33 states it operates in. Right-to-list agreement firm MV Realty is no longer allowed to offer brokerage services in North Carolina. The ban was the result of a two-day hearing, during which the embattled real estate firm fought to maintain its ability to conduct business in the state.

Bankruptcy 455

Bankruptcy Brokerage Lending Agents 455

Housing Wire

JUNE 21, 2024

According to ALTA, right-to-list agreements get recorded on property records as liens, covenants, encumbrances or security interests in exchange for money, increasing the cost and complexity of transferring or financing properties in the future. In September 2023 , MV Realty filed for Chapter 11 bankruptcy in 33 states.

Title 373

Title Bankruptcy Land Equity 373

Housing Wire

DECEMBER 13, 2024

This would aim to address liquidity challenges that plagued the reverse mortgage business stemming from the late 2022 bankruptcy of a major lender , the run-up in interest rates and a precipitous drop in loan volume. could serve as a logistical template for such a product. as potential paths for its new proposal. Therefore, HMBS 2.0

Bankruptcy 365

Bankruptcy Loans Investor Banks 365

Housing Wire

JULY 8, 2022

A deal for financing fell through and Strauss made the decision to pull the plug on Wednesday, sources said. FGMC) and its affiliate Maverick II Holdings filed for Chapter 11 bankruptcy protection in late June after suddenly cutting hundreds of jobs. Sprout failed to pay their last paychecks. First Guaranty Mortgage Corp.

Mortgages 432

Mortgages Bankruptcy Loans Finance 432

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. Capabilities include loss mitigation, bankruptcy, foreclosure, invoicing and claims. Business Lines, Services and Products. Originations.

Lending 410

Lending Bankruptcy Equity Loans 410

Housing Wire

AUGUST 11, 2022

Its earnings report shows that it added a new $340 million warehouse financing facility during the second quarter and since the end of the quarter it increased the capacity of an existing warehouse line by $260 million — to a total of $600 million. Likewise, Atlanta-based A ngel Oak Mortgage Inc. , The Angel Oak Cos.

Mortgages 384

Mortgages Residential Loans Lending 384

Housing Wire

DECEMBER 27, 2022

With the economics of cash-out refinance worsening amidst higher rates , homeowners are showing increased willingness to use home equity lines of credit (HELOC) and home equity loans to tap equity,” a Housing Finance Policy Center report states. Marty Green thinks of the housing market in 2022 as two very different movies. over asking price.

Marketing 526

Marketing Equity Bankruptcy Loans 526