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Bankruptcy judge approves Celink stipulation in RMF bankruptcy case

Housing Wire

The presiding judge in the ongoing bankruptcy case of Reverse Mortgage Funding (RMF) has approved a stipulation that would resolve an administrative claim made against the company’s estate by reverse mortgage servicing company Celink , authorizing both companies to consummate the agreement. Celink continues to defend itself in both cases.

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RMF estate, now ‘out of money,’ seeks conversion to Chapter 7 bankruptcy

Housing Wire

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.

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MV Realty files for bankruptcy

Housing Wire

Right-to-list agreement firm MV Realty has filed for Chapter 11 bankruptcy in 33 states. The story was first reported by CBS News. MV Realty currently faces lawsuits in multiple states for allegedly misleading consumers and homeowners. MV Realty operated in 33 states and has more than 500 real estate agents.

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Mortgage lender AmeriFirst Financial files for bankruptcy

Housing Wire

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.

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After implosion, FGMC files for bankruptcy

Housing Wire

FGMC) and its affiliate Maverick II Holdings filed for Chapter 11 bankruptcy protection late Wednesday. . The company said the bankruptcy action has no impact on closed mortgages, which are already serviced by third parties. The debtor-in-possession financing, however, needs the Delaware bankruptcy court’s approval.

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Warehouse lenders stung by FGMC’s bankruptcy

Housing Wire

Recent pleadings filed in the bankruptcy case of First Guaranty Mortgage Corp. FGMC and its affiliate, Maverick II Holdings LLC , on June 30 filed to reorganize under Chapter 11 bankruptcy protection. Samples reveals in his declaration that FGMC was hemorrhaging cash just prior to filing for bankruptcy protection — posting a $23.3

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Crowdfunding platform Peer Street files for bankruptcy

Housing Wire

California-based real estate investing platform Peer Street, Inc. and 14 affiliated debtors filed for protection under Chapter 11 of the U.S.