Housing Wire

MAY 30, 2024

The news was first reported by Inside Mortgage Finance. The news was first reported by Inside Mortgage Finance. It will enable the acquisition of loans from an HMBS pool above the existing 98% maximum claim amount (MCA) requirement, according to an initial announcement by Ginnie Mae. on Wednesday.

Bankruptcy 417

Bankruptcy Equity Loans Development 417

Housing Wire

SEPTEMBER 8, 2022

Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. Are we really doing those types of loans and promoting homeownership again without understanding the risks?

Loans 544

Loans Banks Equity Closing costs 544

Housing Wire

NOVEMBER 9, 2022

Rising interest rates, sparked by Federal Reserve tightening policies, is the primary cause of the mortgage-finance industry’s pain right now. In September alone, IMBs slashed some 8,200 jobs, a recent Inside Mortgage Finance analysis of U.S. Charting the loan officer exit. Last night, my Uber driver was a loan officer.”

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Loan Officer Loans Mortgages Industrial 407

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 393

Bankruptcy Loan Officer Mortgages Investor 393

Housing Wire

NOVEMBER 2, 2023

Meanwhile, Michael Strauss , its only loan officer, now has an inactive status on his license, according to the Illinois Department of Financial and Professional Regulation (IDFPR). While the decision was under appeal, Strauss was brokering loans. 3, indicating a voluntary surrender. 3, indicating a voluntary surrender.

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Loan Officer Bankruptcy Loans Residential 436

Housing Wire

DECEMBER 27, 2023

nationally, per Inside Mortgage Finance (IMF) estimates. 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.

Mortgages 414

Mortgages Bankruptcy Lending Loan Officer 414

Housing Wire

APRIL 1, 2024

For a homeowner in need of extra cash, somewhere between $300 to $5,000, a company will give them the cash they need without a loan. Kentucky is on the brink of ending exclusive real estate listing contracts. A home often is a consumer’s largest investment, and the best way to support the certainty of land ownership is through public policy.

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Title Bankruptcy Land Finance 413

Housing Wire

MAY 13, 2024

In addition, nonbanks represent seven of the 10 largest servicers of Fannie Mae , Freddie Mac and Ginnie Mae loans. Meanwhile, they owned servicing rights on 54% of mortgage balances in 2022, up from 4% in 2008. Treasury Secretary Janet L. Yellen said in a prepared statement.

Bankruptcy 443

Bankruptcy Finance Mortgages Banks 443

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 394

Bankruptcy Loans Mortgages As-is 394

Realty Biz

APRIL 5, 2022

One of the frequently asked questions during today’s booming housing market is can I qualify for a mortgage during Chapter 13 Bankruptcy. Chapter 13 Bankruptcy is a court-approved debt repayment plan where their debts are restructured over a period of three to five years. Mortgage Options During Chapter 13 Bankruptcy.

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Bankruptcy Debt-to-income ratio VA loan FHA loan 120

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 381

Banks Bankruptcy Lending Finance 381

Housing Wire

FEBRUARY 22, 2024

Processes and risks In December 2022, Ginnie Mae seized RMF’s HMBS portfolio due to the company’s bankruptcy, and the resulting stresses contributed to the decision to investigate, Oliver Davis explained at the time. GNMA guarantees investors will receive payments on more than $2 trillion of mortgage-backed securities,” she said. “We

Bankruptcy 404

Bankruptcy Loans Mortgages Equity 404

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 414

Equity Bankruptcy Loans Mortgages 414

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. The obvious culprit is still rates. This is a different situation.”

Mortgages 441

Mortgages Bankruptcy Principal Finance 441

Housing Wire

JANUARY 16, 2024

Ginnie Mae intends to develop a new reverse mortgage-backed security product enabling the acquisition of loans from an HMBS pool above the existing 98% maximum claim amount (MCA) requirement, according to a new announcement.

Mortgages 422

Mortgages Bankruptcy Loans Equity 422

Housing Wire

JANUARY 5, 2021

In a statement confirming the deal Tuesday afternoon, Guaranteed Rate said the acquisition of Stearns would enable a boost in retail loan originations and further scale its JV platform, while also developing “new multichannel capabilities.” This is a breaking news story. Check back for more updates.

Lending 537

Lending Bankruptcy Loans Mortgages 537

Housing Wire

MARCH 3, 2022

As all participants in the mortgage industry know, securitization is a critical tool for making loans to homeowners at affordable rates. The process of bundling loans and separating risks makes available fixed-rate mortgages that are fully prepayable at borrowing costs well below other forms of debt.

Bankruptcy 364

Bankruptcy Investor Fixed-rate mortgage Loans 364

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.

Banks 382

Banks Bankruptcy Loans Investor 382

Housing Wire

DECEMBER 21, 2021

The major driver of private-label issuance this year has been the jumbo-loan market. RMBS offerings backed by jumbo loans are projected to reach the $60 billion level for 2021, according to estimates by Redwood Trust , a sponsor of multiple private-label offerings through its Sequoia securitization program.

Marketing 399

Marketing Loans Investor Bankruptcy 399

Housing Wire

SEPTEMBER 21, 2022

through its mortgage-backed securities conduit Angel Mortgage Trust , has unveiled its sixth private-label securities (PLS) offering of 2022, even as fast-rising interest rates have jumped far ahead of the lower-rate legacy loans securing the deal. Atlanta-based non-QM lender Angel Oak Cos. Presented by: Acra Lending.

Lending 395

Lending Loans Bankruptcy Mortgages 395

Housing Wire

DECEMBER 27, 2022

Temporary rate buydowns have become a popular concession, especially among homebuilders, in which one out of 10 loans feature a seller-paid buydown, said Peter Idziak, senior associate at Polunsky Beitel Green. trillion in the second quarter of 2022, capitalizing on home equity loans and home equity line of credit (HELOC).

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Equity Marketing Loans Bankruptcy 524

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 427

Mortgages Bankruptcy Loans Investor 427

Housing Wire

AUGUST 3, 2022

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. According to data from Inside Mortgage Finance , New American Funding originated $9.1

Bankruptcy 417

Bankruptcy Loan Officer Mortgages Loans 417

Housing Wire

MAY 10, 2022

The problem: They did not qualify for the loans. Hill’s scheme, also enabled by a group of co-conspirators, caught up with him, in part because many of the loans started going south. Hill instructed the homebuyers on how to game the system by submitting fraudulent asset, income and employment information on loan applications.

Mortgages 395

Mortgages Marketing Loans Finance 395

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 KBRA seems to think so as well.

Marketing 366

Marketing Debt-to-income ratio Loans Mortgages 366

Housing Wire

DECEMBER 14, 2021

The non-QM mortgage market, which encompasses most home loans not backed by a government-sponsored guarantee, is expected to reach the $25 billion mark this year in private-label securitization volume. . With non-QM, the scenarios are just everywhere, and it requires an expertise and a skill set that takes years to learn.

Lending 374

Lending Loans Bankruptcy Technology 374

Housing Wire

JULY 27, 2022

through its Angel Oak Mortgage Trust conduit, recently unveiled its latest private-label securitization (PLS) offering — a deal slated to close in early August backed by 788 predominately non-QM loans valued at $362 million. Non-QM mortgages include loans that cannot command a government, or “agency,” stamp through Fannie Mae or Freddie Mac.

Marketing 382

Marketing Loans Investor Mortgages 382

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. The comprehensive MSP servicing system supports all areas of loan servicing for both first mortgages and home equity products. Originations.

Lending 406

Lending Bankruptcy Equity Loans 406

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. Storm Brewing.

Mortgages 370

Mortgages Marketing Banks Loans 370

Housing Wire

SEPTEMBER 9, 2022

That’s less than half the volume of private-label securitizations tracked by KBRA over the same two-month period in 2021, when there was a total of 44 RMBS transactions backed by loan pools valued at $19.4 That compares to 135 RMBS offerings backed by loans valued at $57.1 billion over the same period in 2021.

Marketing 401

Marketing Fixed-rate mortgage Bankruptcy Mortgages 401

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. Let's delve deeper into these topics to guide you towards an affordable home financing solution. Can you buy a house with bad credit?

Finance 97

Finance Debt-to-income ratio FHA loan Mortgages 97

Housing Wire

MARCH 28, 2022

I think the mega-platforms, like the loanDepots, Rocket Mortgages and UWMs — they will get into non-QM, but they will do it in a very small sector because of the manual nature [of underwriting non-QM loans] and the expertise needed. “It’s billion over the first full three months of 2021, the most recent KBRA’s data show.

Loans 369

Loans Lending Investor Mortgages 369

Realty Biz

DECEMBER 29, 2021

From finding the right agent to work with , to sorting through listings until you find your dream home, to figuring out innovative ways to keep your costs down , to outbidding all the other buyers in 2021’s red hot market, it’s easy to overlook one of the most important (and most nerve-wracking) aspects of buying a home — the financing.

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FHA loan Loans Bankruptcy Mortgages 104

Rent, Buy & Sell

FEBRUARY 7, 2021

Great credit allows people to get the best interest rates on various types of loans. Bad credit is usually the result of late bill payments, bankruptcy, foreclosure and loan defaults. In this article, we review 3 alternative financing options for the home buyer that has bad credit. What is a Bad Credit Score?

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Loans VA loan FHA loan Hard money loan 98

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?

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Technology Mortgages Bankruptcy Industrial 481

Point2Homes

FEBRUARY 12, 2021

2020 has had a severe impact on the job market, resulting in unemployment and even bankruptcy for many people. A side gig will not only help your finances, but also help you develop new skills that will make you more employable. High interest loans, such as credit cards or payday loans, can be tricky to juggle at the best of times.

Finance 89

Finance Bankruptcy Loans As-is 89

C4D Crew

DECEMBER 19, 2023

Bad or damaged credit is a big reason people have trouble financing a house, but another common problem for homebuyers is the down payment — many people, in a recent study by Jackpot.com, said paying down debt on a house is a first thing they’d do if they won the lottery — it means that much to people. What About a Gift?

Bankruptcy 98

Bankruptcy Loans Closing costs Mortgages 98