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 295

Bankruptcy Banks Mortgages Loans 295

Brownstoner

OCTOBER 26, 2020

Brooklyn’s namesake roasting company filed for Chapter 11 bankruptcy on October 21, but its founder said the company is only adjusting its operations and has no plans to go anywhere. “In

Bankruptcy 105

Bankruptcy Closing As-is 105

Housing Wire

JANUARY 24, 2024

Bankruptcy Court for the District of Delaware seeking 60 days of wages and benefits, alleging termination without cause and notice as required by law. The class action lawsuit was filed in the U.S. Live Well initially announced its intent to challenge the suit a month after its filing. In a 92-minute court hearing held on Jan.

Bankruptcy 340

Bankruptcy Loans Closing Mortgages 340

Housing Wire

NOVEMBER 15, 2022

Originators who actively work within the non-QM space are closing additional loans every month. Loans up to $3 million 12 or 24 months personal or business bank statements allowed 1099 earning statements accepted Two years seasoning required for bankruptcy, foreclosure, short sale or deed-in-lieu. A look at non-QM borrower profiles.

Bankruptcy 363

Bankruptcy Short sale Investor Title 363

Seattle Times Real Estate

JANUARY 22, 2024

As office-leasing giant WeWork faces bankruptcy, the company plans to close one of its Seattle locations.

Closing 88

Closing Bankruptcy 88

Seattle Times Real Estate

AUGUST 29, 2023

The closure of the Bartell Drugs store in the Uptown neighborhood leaves Seattle without a 24-hour pharmacy.

Bankruptcy 141

Bankruptcy Closing 141

Brownstoner

SEPTEMBER 11, 2020

In the News After 43 Years, the Wine Sentinel of the River Cafe Stands Down [NYT] De Blasio Vows Indoor Dining Shutdown if Infection Rate Hits 2 Percent [NYP] Heights Could Be Model for Tree Support in Brooklyn [Eagle] Lawsuit Aims to Shut Down School for at-Risk Teens in Midwood [BP] Cyclist Killed by Driver… Read More > The post Daily Links: (..)

Bankruptcy 89

Bankruptcy Closing 89

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 516

Bankruptcy Lending Equity Mortgages 516

Housing Wire

JANUARY 26, 2024

Of those complaints, 167 had to do with “trouble during the payment process,” while other topics included payment issues (80), closing issues (63) and application problems (49). The overwhelming majority of the 2023 complaints saw complainants receive a timely response from the company (355) and were closed with an explanation (353).

Mortgages 374

Mortgages Bankruptcy Industrial Closing 374

Realty Biz

JULY 12, 2021

I’m thinking that bankruptcy might be my only option. What’s important for me to know about filing bankruptcy as a homeowner? How bankruptcies work out is highly dependent on personal circumstances. You definitely want to talk to a bankruptcy attorney before making any final decisions or taking action. Code 6-10-2.).

Bankruptcy 91

Bankruptcy Equity Mortgages As-is 91

Housing Wire

DECEMBER 27, 2023

There were also a few cases of bankruptcy. HousingWire tracked 62 mergers, acquisitions, exits and bankruptcies covered by the newsroom in 2023. bankruptcies. Those who couldn’t find a dance partner shut down production channels or left the mortgage market behind entirely. exits and 3.2%

Mortgages 383

Mortgages Bankruptcy Lending Loan Officer 383

Housing Wire

SEPTEMBER 1, 2022

The last paycheck was paid on Wednesday, but commissions on closing loans will happen through the end of September. “We Suburban may be the latest reported case of a company closing doors since mortgage rates surged and origination volumes dropped. . We had employees that had been with us for 33 years.

Mortgages 384

Mortgages Bankruptcy Loan Officer Loans 384

Housing Wire

NOVEMBER 28, 2023

This includes payment history, credit usage, credit account age, total number of accounts, hard inquiries and derogatory marks, such as late payments, collections, bankruptcies, civil judgments, foreclosures and liens. HW: How much of an impact can credit optimization have on the mortgage process?

Bankruptcy 361

Bankruptcy Loans Mortgages As-is 361

Housing Wire

JUNE 21, 2022

There has been a great deal of innovation around purchasing homes, making credit available, and closing real estate transactions. Low claims ratios are a testament to the work our agents do to eliminate items prior to closing. The best resource for consumers is ALTA’s comprehensive home closing website, homeclosing101.org.

Title 512

Title Title search Due diligence Land 512

Housing Wire

FEBRUARY 23, 2024

Shortly after RMF declared bankruptcy in November 2022, the lender failed to make required payments to its borrowers, resulting in Ginnie Mae reaching out to TCB, the filing reads. But Ginnie Mae has never sought to contract with TCB itself regarding TCB’s transactions with RMF.”

Banks 327

Banks Bankruptcy Lending Finance 327

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 407

Mortgages Bankruptcy Principal Finance 407

Housing Wire

FEBRUARY 23, 2024

per share at market close the day before. In 2023 alone, the mortgage industry saw a total of 62 merger and acquisition transactions, lender exits and bankruptcies. Rocket’s stock price rose to $11.75 per share at market open on Friday, up from $10.98

Equity 382

Equity Bankruptcy Loans Mortgages 382

Housing Wire

FEBRUARY 19, 2021

Seattle-based Redfin has agreed to pay $608 million in cash to acquire RentPath , though the deal still requires sign-off by the Federal Trade Commission and a bankruptcy court. Despite RentPath’s baggage, namely a $650 million bankruptcy restructuring , Redfin sees big traffic and lead-generation potential with the pending acquisition.

Bankruptcy 404

Bankruptcy Brokerage Property Management Agents 404

Housing Wire

SEPTEMBER 29, 2022

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. Angel Oak Solutions originated $101.6 million, according to mortgage tech platform Modex.

Mortgages 360

Mortgages Bankruptcy Lending Investor 360

Housing Wire

AUGUST 3, 2022

Earlier this year, around March or April, they cut that back saying we couldn’t get paid out on anything unless we closed over 11 loans a month. Last year when it was busier we were able to close 20 to 30 no problem but with the economy as it is, it was a struggle to hit 10.” .

Bankruptcy 421

Bankruptcy Loan Officer Mortgages Loans 421

Realty Biz

JUNE 7, 2021

What Is The Time Frame For Closing on a Home? One of the more popular questions asked from buyers and sellers is how long it will take to close on a house. When buying or selling a home, you feel relieved once the process closes and you have the home keys handed over to you. Hence, the closing timeline depends on your lender.

Closing 120

Closing Purchase and sale agreement Inspection Title 120

Housing Wire

AUGUST 3, 2023

Heightened focus on expenses by clients and prospects, as well as the proposed ICE transaction, has elongated the sales cycles in the short term; market conditions continue to result in elevated originator consolidation, bankruptcies and associated attrition, according to its filing with the Securities and Exchange Commission (SEC).

Bankruptcy 321

Bankruptcy Mortgages Development Loans 321

Housing Wire

AUGUST 30, 2022

The next job loss recession, when it happens, will have more foreclosures, short sales, and bankruptcies. The 2005 bankruptcy reform laws and the 2010 Qualified Mortgage laws, once passed, created an expansion that has produced the highest quality homeowners in our lifetime. However, not to the degree we saw from 2005-2008.

Bankruptcy 384

Bankruptcy Days on market Sales Short sale 384

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 543

Loans Banks Equity Closing costs 543

Housing Wire

AUGUST 5, 2020

Fed Chairman Jerome Powell said at a news conference last week that the central bank was close to wrapping up a review of its policy-making strategy that began in 2019. The Federal Reserve is considering abandoning its longtime strategy of using its benchmark rate to pre-emptively prevent inflation from rising above its 2% target.

Mortgages 508

Mortgages Bankruptcy Investor Banks 508

Housing Wire

JULY 8, 2022

Plaintiffs Nathaniel Agudelo and Helen Owens – both closing disclosure specialists who worked for Sprout from the fourth quarter of 2020 through July 6, 2022 – filed the lawsuit on their behalf and others in the same situation in the Eastern District of New York U.S. Sprout is the second major non-QM lender to shut down operations recently.

Mortgages 432

Mortgages Bankruptcy Loans Investor 432

Housing Wire

NOVEMBER 8, 2023

Foreclosures and bankruptcy data One of the most prominent credit stress data lines I have ever seen came during 2005-2008. Currently, jobless claims are still low and nowhere close to the level I believe is needed to break the labor market , which would be 323,000 on a four-week moving average.

Fixed-rate mortgage 414

Fixed-rate mortgage Bankruptcy Loans Mortgages 414

Housing Wire

JANUARY 18, 2021

The sky was falling,” Perkins said, describing the environment of fear as companies were acquired, layoffs were rampant and bankruptcies were common. During her second acquisition in 2008, the story was much different. There was a lot more fear involved than excitement,” she said.

Title 340

Title Bankruptcy Sales As-is 340

Housing Wire

OCTOBER 31, 2023

This includes payment history, credit usage, credit account age, total number of accounts, hard inquiries and derogatory marks, such as late payments, collections, bankruptcies, civil judgments, foreclosures and liens. Some of these elements will be very difficult, if not impossible, to change in the short term.

Bankruptcy 352

Bankruptcy Loans Mortgages As-is 352

Housing Wire

APRIL 10, 2023

Unfortunately, that “instant” title commitment itself does not inherently equate to a faster close, as my colleague Matt Regan outlined in his recent article. Just as important, it saves our title partners time and money when critical issues are discovered upfront resulting in loans that may never close.

Title 323

Title Loans Equity Title search 323

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 378

Loans Due diligence Investor Technology 378

HomeLight

JULY 29, 2022

Closing on a house is a thrilling time for buyers : Once you’ve found the one and have an accepted offer, you’re ready to grab the keys and make it your own. But closing time can also be plenty to rack your nerves. What can go wrong on the buyer’s side at closing. Problem: There’s an issue with the Closing Disclosure.

Closing 103

Closing Purchase and sale agreement Title Home sale contingency 103

Housing Wire

JANUARY 22, 2021

If CoStar were to close the deal, it would be the largest acquisition the Washington, D.C.-based After its filing of bankruptcy in February, Rentpath , which owns Rent.com, ApartmentGuide.com, Rentals.com and Lovely.com, agreed to sell to CoStar for a reported $558 million. As of Thursday, CoreLogic’s stock closed at $76.79

Equity 334

Equity Bankruptcy Investor Commercial 334

HomeLight

MAY 24, 2022

Sellers tend to prefer all-cash offers because those deals close more quickly. Even though it’s all cash to the sellers at closing, with a cash offer, “you don’t have to go through the appraisal or the bank approval process — it’s cleaner.”. But just how long does it take to close on a house with cash, compared to a traditional loan?

Purchase and sale agreement 102

Purchase and sale agreement Closing Title search Title 102

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 371

Marketing Bankruptcy Loans Principal 371

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.

Equity 503

Equity Marketing Loans Bankruptcy 503

HomeLight

JULY 31, 2020

Closing on a house seems pretty straightforward. Once the buyer and seller sign the contract, the closing process begins — and therein lies the rub. While seamless closings are ideal for everyone involved, they almost never happen unless the buyer is paying cash on the home, and even then there can be a roadblock or two.

Closing 108

Closing Purchase and sale agreement Title search Earnest money deposit 108