Remove Bankruptcy Remove Development Remove Loans Remove Technology
article thumbnail

Crowdfunding platform Peer Street files for bankruptcy

Housing Wire

Founded in 2013 by Brew Johnson, Brett Crosby and Alex Perelman, Peer Street developed a marketplace connecting lenders and borrowers seeking capital to investors looking for real estate-related debt. In addition, Peer Street acts as a master servicer and manages loans on behalf of investors. million in 2021, Dunn wrote.

article thumbnail

Loan buybacks haven’t disappeared, but they are trending down

Housing Wire

The loan repurchase trend that began to sting many mortgage originators in 2022 appears to finally be winding down, according to a recent report by Sterling Point Advisors and Augment Analytics. We’re seeing a downward trend in total [loans] repurchased [on a dollar basis], and that’s true for both Fannie and Freddie,” Ludden said. “I

Loans 399
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Dark Matter Technologies execs talk transition from Black Knight, innovation in the mortgage tech space

Housing Wire

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. Read on to learn more about Dark Matter Technologies’ plan for mortgage. Gagliano : We believe strongly in technology.

article thumbnail

The 2024 mortgage M&A playbook

Housing Wire

The company hopes to reach its goal by growing organically with more loan officers under a dozen business development managers. There were also a few cases of bankruptcy. HousingWire tracked 62 mergers, acquisitions, exits and bankruptcies covered by the newsroom in 2023. bankruptcies. exits and 3.2%

Mortgages 403
article thumbnail

Automation is coming to non-QM lending

Housing Wire

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. . Could someone one day come up with the right technologies [for automating underwriting of] non-QM?

Lending 353
article thumbnail

Mr. Cooper settles $90M lawsuit over illegal foreclosures

Housing Wire

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.

article thumbnail

Black Knight reports slimmer Q2 profit ahead of trial on ICE deal

Housing Wire

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).