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No, homeowner delinquency rates aren’t elevated

Housing Wire

However, the data references Freddie Mac ‘s Serious Delinquency levels on multifamily loans. These loans pertain to multifamily mortgages, which are used for commercial properties with five or more units, such as apartment buildings. Also, the foreclosure and bankruptcy data isnt even back to pre-COVID-19 levels.

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Bankrupt AmeriFirst Financial wants court to green light private sale of loans  

Housing Wire

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. If approved, AmeriFirst’s retail and commercial loans worth more than $5 million will be sold to a non-QM lender Oaktree Funding Corp.,

Loans 410
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MORE Seller Financing wants to debunk ‘the bad rap for wraps’

Housing Wire

MORE’s model offers a short-term bridge loan typically around three years in length that’s designed to give buyers time to refinance or secure permanent financing. Seller financing spans residential, commercial and land transactions, with residential making up 63% of all deals over the past three years, Note Investor reported.

Finance 370
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Why this small lender is running straight into the non-QM fire

Housing Wire

FGMC) , controlled by global investment management firm PIMCO, filed for Chapter 11 bankruptcy protection in June. Stronghill, however, is no stranger to the non-agency and investor loan space. . Now, business owners can also apply for a mortgage loan as an individual. First Guaranty Mortgage Corp. The question is: why? .

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There’s more blood on the tracks in the non-QM market

Housing Wire

billion in assets, has a diverse portfolio of residential and commercial real estate assets. A closer look at WMC’s books, however, shows that as of June 30 its residential whole loan portfolio, nearly all of which is comprised of non-QM loans, was underwater by some $44 million. WMC, with some $2.8 The dreaded discount.

Marketing 397
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Redwood Trust, Angel Oak Mortgage awash in red ink in Q2

Housing Wire

a real estate investment trust (REIT) based in Mill Valley California that has residential operations focused on nonagency jumbo loans, recently reported a second-quarter 2022 net loss of $100 million, after recording a net gain of $31 million in the prior quarter. Redwood Trust Inc. , Likewise, Atlanta-based A ngel Oak Mortgage Inc. ,

Mortgages 384
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Princeton CEO Rich Weidel on the promise vs reality of mortgage tech

Housing Wire

Within mortgage companies, even those that have huge scale versus small scale, they’re offering really the same borrower experience and the same loan officer experience. Obviously, they’ve got some different systems to handle hundreds of loans a month versus thousands or tens of thousands. SW: How do you fix that?

Mortgages 421