Housing Wire

JULY 28, 2025

Additionally, he has been ordered to close the group’s Chase bank account by Aug. These issues included leaving board seats unfilled, unchecked spending, pursuing bankruptcy without notifying him as CEO, and cancelling national votes and events without proper notice. 25 and is barred from accessing the remaining accounts.

Bankruptcy

The Close

JANUARY 16, 2025

These records include images of the damages, printouts of email or text messages with the tenant, bank statements, or returned checks. The post How to Evict a Tenant in 7 Steps (+ Free Eviction Notices) appeared first on The Close. Without evidence, proving your case is more complicated and could delay eviction.

Inspection

The Close

MARCH 13, 2025

It offers online banking and accounting, leasing and property management, tenant management, and app integrations. DoorLoop overview Pros Rental listing management Leases and applications Maintenance requests Cons No free-forever plan Fee-based Automated Clearing House (ACH) transactions No free trial The Close Score 4.1 Ease of use 5.0

Property Management

Rochester Real Estate

NOVEMBER 5, 2015

Should I Go With A Mortgage Broker Or A Bank? A common question Realtors get from buyers and home owners looking to refinance is “should I go with a mortgage broker or a bank?” They cover the differences between mortgage brokers and banks, the pros and cons of each one and just as importantly, how to find a good lender.

Finance

Marco Santarelli

MAY 22, 2025

Having navigated his own financial ups and downs, including a bankruptcy early in his career, he speaks from experience. Federal Reserve Policies: The Federal Reserve (the Fed) sets the federal funds rate, which is the rate banks charge each other for overnight borrowing.

Mortgages

Redfin

JULY 17, 2025

Savings: Decide how much each of you can contribute from your savings towards the down payment, closing costs, and moving expenses. To make the process helpful, you and your partner could create a shared budget or open a joint bank account dedicated to household expenses. What happens to the home if one partner files for bankruptcy?

Purchase and sale agreement

AAOA

MAY 5, 2025

These homes are typically under foreclosure, in pre-foreclosure, or have already been repossessed by a lender or bank. Sometimes, life throws the owner curveballslike divorce, bankruptcy, or forced liquidationwhich can also lead a property down this path. But what actually makes a property distressed?

Bankruptcy

Seattle Times Real Estate

JUNE 9, 2025

Advertising Down payment assistance for people affected by exclusionary policies is a way of “beginning the process of closing this wealth gap for our people and to be able to build generational wealth,” Scott said. By the numbers: The program offers buyers loans for up to 20% of the cost of the home, up to $150,000, plus closing costs.

Loans

Housing Wire

JULY 21, 2022

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

Bankruptcy

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. Warehouse lender Flagstar Bank , which has a lawsuit filed against Hometown Lenders , has the largest unsecured claim, $20.1 million), investor Freddie Mac ($3.4

Bankruptcy

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 In 2022, AmeriFirst closed $2.5

Bankruptcy

Redfin

FEBRUARY 25, 2025

It is so cheap largely because of its economic and population decline , which culminated in bankruptcy in 2013. And no matter where you live in the city, youll find everyday expenses that hover close to the national average. Detroit, MI 77.2% Baltimore, MD 64.4% Baltimore, fondly dubbed Charm City, could be the perfect fit.

Sales

Housing Wire

FEBRUARY 23, 2024

government’s motion to stop the gathering of evidence in a case against Ginnie Mae , Texas Capital Bank (TCB) responded to the government’s attempt to dismiss the entirety of the bank’s complaint. TCB was thus left with no alternative but to file this action,” the bank concluded.

Banks

Housing Wire

OCTOBER 12, 2023

Bankrupt retail lender AmeriFirst Financial is seeking approval for a private sale of loans from a Delaware bankruptcy judge to pay off two warehouse lenders and fund restructuring costs. The funds will be to be used to pay Centier Bank and Sound Capital — which AmeriFirst used to fund the mortgages it originated.

Loans

Housing Wire

AUGUST 15, 2024

Department of Housing and Urban Development (HUD), last week filed a slew of new documents in their court case against Texas Capital Bank (TCB). These were primarily in response to the bank’s prior motion for a partial summary judgment and offer reasons why the motion should be denied. Attorneys for the U.S.

Bankruptcy

Housing Wire

NOVEMBER 15, 2022

Originators who actively work within the non-QM space are closing additional loans every month. The solution: Bank Statement loans. . Angel Oak’s Bank Statement loan is ideal for the self-employed. We have closed multiple deals at one time for the same real estate investor. A look at non-QM borrower profiles. and growing.

Bankruptcy

Housing Wire

JULY 28, 2023

It follows a request from the shuttered lender to halt the agreement due to an involuntary bankruptcy petition filed by three creditors. New Wave Lending Group , JMJ Financial Group and EF Mortgage filed on July 5 an involuntary petition against Sprout under Chapter 7 of the Bankruptcy Code in a New York court, claiming the lender owes $1.3

Bankruptcy

Housing Wire

OCTOBER 31, 2022

One of the unsung heroes of the most prolonged economic and job expansion ever recorded in history was the passing of the 2005 Bankruptcy Reform Act and the 2010 qualified mortgage rule under Dodd-Frank. As we can see below, the bankruptcy levels were extremely high before the bankruptcy law was passed in 2005.

Bankruptcy

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. People’s first reaction was to wonder if this was 2008 all over again. Remember, the system is designed to keep home prices inflated.

Loans

Housing Wire

NOVEMBER 10, 2020

“I told my client, my friends, ‘Look, I know you’re supposed to close in 10 days but we’re closing Friday and you let everybody know it or you may not close,’” Dodson said. “And damn if we didn’t close Friday and they shut it down Monday.” ” This ain’t your daddy’s subprime.

Debt-to-income ratio

Housing Wire

MAY 13, 2021

Due to tight inventory and increased competition, investors need to close on loans quickly. We have Agency options, and when that won’t work, we can pivot quickly to a non-QM product without a delay for a quick close. A Bank Statement loan allows bank statement submissions instead of tax returns.

Loans

Housing Wire

JULY 22, 2022

FGMC) filed for Chapter 11 bankruptcy protection at the end of June — leaving four warehouse lenders on the hook for more than $415 million. Just weeks later, a leaked text message from Flagstar Bank provided an inside look at how dire the current climate is for many non-QM lenders. Non-QM lender First Guaranty Mortgage Corp.

Lending

Housing Wire

JANUARY 4, 2024

Amid an already challenging operating environment observed throughout 2023, both HECM endorsement volume and HECM-backed Securities (HMBS) issuance closed out the year on a low note, with both metrics falling lower from the month before, according to data from RMI and New View Advisors. This is a different situation.”

Mortgages

Housing Wire

MAY 20, 2024

If I were the state regulators, I would look at this closely and see where we need to up our game … That’s a tall order to do at a state level,” Cave said. The FSOC report states that nonbank servicers increased their market share from 4% in 2008 to 54% in 2022.

Bankruptcy

Housing Wire

FEBRUARY 23, 2024

per share at market close the day before. The three areas in which AI is driving impact are mortgage banking, underwriting and servicing, Rocket CEO Varun Krishna shared with analysts during the latest earnings call. Rocket’s stock price rose to $11.75 per share at market open on Friday, up from $10.98

Bankruptcy

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. Banosian, whose loan origination volume will be close to $1 billion in 2022, said he turned housing market headwinds into an opportunity to target new geographic markets.

Marketing

Housing Wire

AUGUST 9, 2022

Combined, the closing loan-pool balance for the two securitization deals was $834.2 The pool of non-QM borrowers includes real estate investors, property flippers, foreign nationals, business owners, gig workers and the self-employed, as well as a smaller group of homebuyers facing credit challenges, such as past bankruptcies.

Marketing

Housing Wire

AUGUST 30, 2022

I understand why anti-Central Bank people say this because they want to blame everything on the Federal Reserve and say it’s just been booming demand. The next job loss recession, when it happens, will have more foreclosures, short sales, and bankruptcies. However, not to the degree we saw from 2005-2008.

Bankruptcy

Housing Wire

SEPTEMBER 29, 2022

Enabling bulk trading, which allows platform users to sell closed loan pools to one or more buyers in a single transaction. These new programs will expand our reach with bank-statement and other alternative-documentation loans, interest-only, etc.,

Marketing

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. RTC), closed 747 S&Ls with assets of more than $407 billion. . So, it’s the same thing with these 4,400 independent mortgage banks. “At

Mortgages

Housing Wire

DECEMBER 21, 2021

As 2021 draws to a close, it’s clear that the private-label residential mortgage-backed securities (RMBS) market has notched a year for the record books. Morgan , the investment bank side of New York-based banking holding company JPMorgan Chase & Co. For the full year, the RMBS 2.0 Morgan, via its private label conduit, J.P.

Marketing

Housing Wire

JULY 29, 2021

Many of these firms experienced bankruptcies and closures similar to that of New Century.”. It is critical to understand how operational risks can be closely tied to other risks such as credit. . Specifically, they stated: “Banks and nonbank servicers are subject to different safety and soundness regulation and different capital rules.

Mortgages

Housing Wire

FEBRUARY 28, 2023

Market conditions have also resulted in elevated originator consolidation, bankruptcies and associated attrition,” the company’s 8-K filing said. Investment bank Keefe, Bruyette & Woods (KBW) expects ICE to continue to pursue the merger and litigate, and anticipates that the deal has more than a 50% probability of closing.

Bankruptcy

Housing Wire

DECEMBER 14, 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. “We And it is growing fast, he added. “We’re

Lending

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. filed for Chapter 11 bankruptcy. [In

Loan Officer

Housing Wire

APRIL 18, 2024

The overarching goal of prefunding QC is to ward off problems before they become issues on closed loans. The pool of non-QM borrowers includes real estate investors, foreign nationals, business owners, gig workers and the self-employed, as well as a smaller group of homebuyers who face credit challenges, such as past bankruptcies.

Loans

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. million in cash and cash equivalents on its balance sheet, plus financing facilities lined up with six banks. “We

Marketing