Housing Wire

FEBRUARY 22, 2024

Department of Housing and Urban Development (HUD) Office of the Inspector General (OIG) announced the launch of an inquiry into Ginnie Mae ’s monitoring of now-bankrupt lender Reverse Mortgage Funding (RMF), and its extinguishment from the Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program. Late last year, the U.S.

Bankruptcy 350

Bankruptcy Loans Mortgages Equity 350

Housing Wire

JANUARY 5, 2021

In a statement confirming the deal Tuesday afternoon, Guaranteed Rate said the acquisition of Stearns would enable a boost in retail loan originations and further scale its JV platform, while also developing “new multichannel capabilities.” This is a breaking news story. Check back for more updates.

Lending 536

Lending Bankruptcy Loans Mortgages 536

Housing Wire

MARCH 23, 2022

Minneapolis-based CarVal Investors , a global alternative investment manager and long-time player in the mortgage market, has launched a real estate mortgage investment conduit, or REMIC, that plans to work with loan originators around the country to develop and acquire innovative nonagency mortgage products.

Banks 359

Banks Bankruptcy Loans Investor 359

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. Department of Housing and Urban Development (HUD) may not be in office should the suit progress to trial sometime next year.

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Banks Bankruptcy Lending Finance 320

Housing Wire

MARCH 26, 2024

Even though they have a low mortgage rate on their home loan, the pandemic causes unanticipated financial hardships which lead to a decrease in their annual income as well as the necessity of using credit cards for their basic needs. How could they ever justify walking away from a loan with this low of an interest rate ?

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Equity Loans Bankruptcy New Construction 419

Housing Wire

AUGUST 3, 2022

The most recent layoff came on Tuesday when the California-based lender eliminated several hundred positions, including loan officers, mortgage underwriters, processors and training specialists, multiple former employees said. In 2021 I was reviewing about 50 to 100 loans a day,” said a former disclosure specialist who was laid off in 2022.

Bankruptcy 414

Bankruptcy Loan Officer Mortgages Loans 414

Housing Wire

DECEMBER 7, 2020

Cooper , the nation’s largest nonbank servicer of mortgage loans, will refund customers nearly $90 million and pay a civil penalty of more than $6.5 Those modifications allowed the borrower to make trial payments, which would then require the servicer to permanently modify the loans. 2012 and Jan. 1, 2021.

Bankruptcy 534

Bankruptcy Loans Mortgages Finance 534

Housing Wire

JUNE 21, 2022

In a refinancing, homeowners obtain a new loan and lenders require a new title search and a title insurance policy on that loan to protect their investment. Discounts also may be available if using the same lender that issued the original loan. Real estate is a $3 trillion industry in the United States.

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Title Title search Due diligence Land 506

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).

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Bankruptcy Mortgages Development Loans 321

Housing Wire

DECEMBER 14, 2021

The non-QM mortgage market, which encompasses most home loans not backed by a government-sponsored guarantee, is expected to reach the $25 billion mark this year in private-label securitization volume. . It’s going to happen at some point, or at least make it much easier.”. Automation just increases efficiencies,” Hutchens added.

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Lending Loans Bankruptcy Technology 327

Housing Wire

SEPTEMBER 18, 2023

Dark Matter Technologies , formerly Black Knight Origination Technologies, is focused on mainly two things: the smooth transition to new owners, and lowering the cost to originate loans for lenders. How does the company expect to manage profit amid industry consolidation , bankruptcies and attrition?

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Technology Mortgages Bankruptcy Industrial 461

Housing Wire

JULY 29, 2021

Many of these firms experienced bankruptcies and closures similar to that of New Century.”. Another major risk of nonbank originators and servicers is operational risk in terms of loan manufacturing quality. The results are consistent with this analysis where for 2012-2015, loans originated by nonbanks were 2.2

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Mortgages Loans Bankruptcy Industrial 414

Housing Wire

FEBRUARY 8, 2022

Non-QM mortgages include loans that cannot command a government, or “agency,” stamp through Fannie Mae or Freddie Mac. Non-QM loans typically make use of alternative-income documentation because borrowers cannot rely on conventional payroll records or otherwise fall outside agency credit guidelines.

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Marketing Lending Loans Bankruptcy 346

Housing Wire

JULY 1, 2022

FGMC filed for Chapter 11 bankruptcy protection in Delaware on Thursday, June 30. VanSingel, former senior vice president at learning & organizational development at FGMC, is suing FGMC and PIMCO for not paying her 60 days of severance following her termination in February 2022.

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Loan Officer Bankruptcy Loans Sales 309

Housing Wire

MAY 10, 2022

The problem: They did not qualify for the loans. Hill’s scheme, also enabled by a group of co-conspirators, caught up with him, in part because many of the loans started going south. Hill instructed the homebuyers on how to game the system by submitting fraudulent asset, income and employment information on loan applications.

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Mortgages Marketing Loans Finance 382

Housing Wire

JUNE 9, 2022

Lenders saw the value of agency loans made at lower rates — in the 3% range — in 2021 and early January 2022 drop precipitously over the course of the first quarter. That negatively affected liquidity options in both the loan-trading and securitization markets as higher-rate loans [above 5%] subsequently hit the market.

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Marketing Loans Technology Bankruptcy 362

HomeLight

JULY 30, 2021

The bank will ask for a list of mortgage documents to prove you’ll be able to repay the loan. Together, these mortgage documents allow the lender to see if you have enough income to pay back the loan and determine whether you’re creditworthy. Bankruptcy discharge papers. Can you blame them?). Foreclosure documents.

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Loans Mortgages Bankruptcy Purchase and sale agreement 98

Realty Biz

JANUARY 16, 2022

The Bel Air mansion is known as “The One” and was built by Hollywood producer-cum-developer Nile Niami. However, Niami racked up mounting debts as he built the home, and the mansion is now being sold as part of a bankruptcy agreement. The bankruptcy agreement will force the home to be sold at auction to the highest bidder on Feb.

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Purchase and sale agreement Sales Bankruptcy Development 101

C4D Crew

MARCH 8, 2021

This article will explain five loan programs for first-time buyers. Federal Housing Administration Loan. First-time homebuyers and those with no or low credit may be eligible for a loan that is guaranteed by the Federal Housing Administration (FHA). The FHA will not guarantee loans to purchase rentals or vacation homes.

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Loans FHA loan VA loan Debt-to-income ratio 52

Propmodo

APRIL 30, 2024

Newmark estimates that $929 billion of commercial real estate loans will come due in 2024. The loans will target multifamily, for-sale residential, retail, industrial, and self-storage assets in major cities in states traversed by I-95. The amount of commercial real estate debt maturing this year makes the situation trickier.

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Commercial Bankruptcy Investor Equity 67

Housing Wire

NOVEMBER 13, 2023

. $700 billion in taxpayer funds were authorized to help stabilize the economy in free fall in the wake of the Lehman bankruptcy and a mortgage market meltdown. And key federal agency mortgage loan programs like FHA , VA, and Fannie Mae and Freddie Mac have fully embraced them. How did this work during COVID?

Banks 321

Banks Loans Bankruptcy Mortgages 321

Kyle Handy

JANUARY 20, 2023

You can target advertising on Google or Facebook to people interested in bankruptcy or foreclosure. It begins with developing an archive of content focused on people in your area who might want to sell — things like “Declaring Bankruptcy in Tempe, Arizona” or “How to Avoid Pre-Foreclosure in Salt Lake City, Utah.”

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House Flipping Bankruptcy Investor Renovation 89

Point2Homes

FEBRUARY 12, 2021

2020 has had a severe impact on the job market, resulting in unemployment and even bankruptcy for many people. A side gig will not only help your finances, but also help you develop new skills that will make you more employable. High interest loans, such as credit cards or payday loans, can be tricky to juggle at the best of times.

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Finance Bankruptcy Loans As-is 89

Realty Biz

SEPTEMBER 30, 2023

By comparing loan options, understanding loan terms and interest rates, and exploring resources for mortgage comparison, you can find the right mortgage lender for your financial situation. Seek professional advice: Working with a mortgage professional, such as a loan officer or mortgage broker, can provide valuable guidance.

Finance 98

Finance Debt-to-income ratio FHA loan Mortgages 98

CT Homes

OCTOBER 25, 2022

Increased Debt Levels : It’s never smart to take on more debt than you can repay, but nevertheless, many businesses and individuals will do so and struggle to pay back their loans. When excessive debt occurs, and those debts default and individuals need to file for bankruptcy more frequently, the economy can be overturned.

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Bankruptcy Loans Finance Technology 78

Housing Wire

AUGUST 4, 2021

States can use up to 5% of their funding for foreclosure or displacement-prevention counseling provided by Housing and Urban Development -approved agencies or legal services. The funds can also be used by nonprofit or government entities to make down payment assistance loans.

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Homeowner’s association Bankruptcy Principal Development 414

HomeLight

NOVEMBER 9, 2021

Appraisal (verb) : an appraisal is the act or process of developing an opinion of value. According to Benson, homeowners sometimes contact her directly for an appraisal if they need to know how to price their home, if they’re getting ready to retire, or if they’re declaring bankruptcy. A home appraisal is both a process and a report.

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Purchase and sale agreement Equity Bankruptcy Finance 87

Marco Santarelli

MARCH 17, 2023

It began in 2007 and reached its peak in September 2008 when Lehman Brothers, one of the largest investment banks globally, filed for bankruptcy. Banks and other financial institutions gave out loans to people who did not have the creditworthiness to repay them.

Banks 52

Banks Lending Investor Bankruptcy 52

Marco Santarelli

JULY 25, 2022

Instead, they will lose their homes to foreclosure and often file for bankruptcy in the process. Neither the 20 percent interest rates of the early 1980s nor the devastation of the savings and loan sector in the early 1990s led to a similar drop in property values. More people bought and sold homes as home prices soared.

Marketing 52

Marketing Lending Mortgages Equity 52

Housing Wire

APRIL 22, 2022

Non-QM lenders are dealing primarily with purchase loans that require far more intensive underwriting than agency loans and, once funded, must be moved off the balance sheet quickly in most cases to maintain liquidity. Non-QM mortgages include loans that cannot command a government, or “agency,” stamp through Fannie Mae or Freddie Mac.

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Loans Lending Mortgages Investor 377

Dwell Real Estate

AUGUST 20, 2021

Back then, developer/homebuilder Pat Neal, head of Neal Communities, shrugged off the collapse, even as he retooled his company to build less-expensive homes so buyers wouldn’t disappear completely. ” VueEven from the start of the Settlement Era, the community’s developers, promoters and boosters have catered to the rich.

Land 52

Land Development Banks Construction 52

Marco Santarelli

SEPTEMBER 6, 2020

Instead, we’re suggesting you loan money to other real estate investors through crowdfunding sites. You can diversify your holdings, loaning several hundred or thousand dollars to each would-be investor. The crowdfunding platform takes a slice of every loan issued. However, they also administer the loan payments.

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Lending Loans Investor Branding 135

The Close

JUNE 22, 2023

Motivated Sellers The motivated seller category is the submarket where you will find homeowners who are facing financial distresses like bankruptcy, foreclosure, and job loss or relocation. However, the reality is that likely wouldn’t have happened because loan qualification requirements changed drastically from 2007 to 2009.

Investor 116

Investor Debt-to-income ratio New Construction Construction 116

HomeLight

AUGUST 26, 2020

If you’re a first-time homebuyer , you have a lot of decisions to make, including what type of loan to choose. You may have heard that FHA loans are good options for first-time homebuyers, but why is that? Well, FHA loans have a few benefits for first-time homebuyers that conventional loans don’t. Credit scores.

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FHA loan Loans Debt-to-income ratio Bankruptcy 53

Housing Wire

MARCH 10, 2022

In a flurry of announcements this week, the Department of Housing and Urban Development Office of Inspector General warned borrowers to be on the lookout for fraudulent schemes. The bulletin explains that fraudsters will typically pocket the fee and file a bankruptcy in the borrower’s name without their knowledge.

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Bankruptcy Loans Mortgages Title 318

Housing Wire

NOVEMBER 1, 2021

Initially, states and eligible territories received 10% in upfront payments to develop pilot programs that are already in place in 12 states, including California, Ohio, and Tennessee. “It is always easier to have these plans as consistent as possible among the states because the servicers will have to operationalize it,” she said.

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Homeowner’s association Bankruptcy Principal Mortgages 383

HomeLight

JUNE 16, 2023

The average American household credit card debt is $5,315 , the average student loan debt is almost $39,000 , and the average car loan for a new vehicle is around $44,140. Homeowners may refinance to secure a lower interest rate, change their loan terms, or, as in this case, tap into their home equity.

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Fixed-rate mortgage Equity Debt-to-income ratio Loans 60