Bankruptcy Banks Finance Principal 
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
Realty Biz
MARCH 21, 2024
If you’re struggling financially and unable to pay your bills, you may have considered filing for bankruptcy. Filing for bankruptcy gives you a fresh start, but it stays on your credit report for up to 10 years — resulting in consequences for years to come. For example, the bank could foreclose on your home if you don’t pay.
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Housing Wire
JANUARY 4, 2024
In the case of large institutions such as Bank of America , Wells Fargo , and MetLife , we never regained their lost volume. million of [unpaid principal balance (UPB)] that may not otherwise have been issued in December.” This is a different situation.” This represents $15.6
Housing Wire
MARCH 23, 2022
We expect it to be a challenging [mortgage] market from a volume perspective due to interest rates and credit spreads,” said David Pelka, head of RMBS business and a principal at CarVal. 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.
Housing Wire
DECEMBER 27, 2022
The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. 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.
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 Andrew Rhodes, Sr.
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. billion of unused warehouse capacity to support go-forward mortgage banking production.”.
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