Housing Wire

JANUARY 23, 2024

Department of Housing and Urban Development (HUD) may not be in office should the suit progress to trial sometime next year. Plaintiff [TCB] also had an interest in those mortgages — prior to extinguishment — because RMF had pledged its limited interest in those mortgages to TCB as collateral for a loan.”

Bankruptcy 345

Bankruptcy Banks Loans Equity 345

Housing Wire

MARCH 7, 2024

Department of Housing and Urban Development (HUD). This includes a strain on resources brought about by the assumption of a sizable portfolio of reverse mortgage-backed securities following the bankruptcy of a major lender in the space in 2022. It allocates $450 billion in funding for several departments, including the U.S.

Bankruptcy 325

Bankruptcy New Construction Development Lending 325

Housing Wire

JANUARY 11, 2024

District Court for the Northern District of Texas , Ginnie Mae has filed its response to a lawsuit brought against it by Texas Capital Bank (TCB) saying the warehouse lender lacks standing and discounts the authority the government has to extinguish a lender from its reverse mortgage-backed securities program.

Lending 367

Lending Bankruptcy Mortgages Principal 367

Housing Wire

SEPTEMBER 18, 2023

Read on to learn more about Dark Matter Technologies’ plan for mortgage. More recently, we started acquiring businesses in the mortgage tech space. We plan to be in the mortgage tech space forever. Kim : What other mortgage tech companies has Constellation Software acquired? And we plan to continue to acquire there.

Technology 454

Technology Mortgages Bankruptcy Industrial 454

Housing Wire

MARCH 26, 2024

The Home Equity Conversion Mortgage (HECM) program faces stability and viability challenges stemming from the 2022 collapse of a major industry lender and its extinguishment from the HECM-backed Securities (HMBS) program, which could warrant congressional scrutiny if these challenges are not properly addressed by the U.S. Mike Braun (R-Ind.)

Bankruptcy 310

Bankruptcy Loans Banks Mortgages 310

Housing Wire

JULY 29, 2021

In a comprehensive study of mortgage market liquidity, Liquidity Crises in the Mortgage Market , several well-known academics provided compelling evidence for “liquidity vulnerabilities associated with nonbanks.” Many of these firms experienced bankruptcies and closures similar to that of New Century.”.

Mortgages 413

Mortgages Loans Bankruptcy Industrial 413

Housing Wire

FEBRUARY 23, 2024

The case stems from Ginnie Mae’s extinguishment of Reverse Mortgage Funding (RMF) from its reverse mortgage-backed securities program. 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.

Banks 310

Banks Bankruptcy Lending Finance 310

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

MAY 10, 2022

Eric Hill, an Atlanta real estate agent representing a nationwide homebuilder, had a plan to help more than 100 homebuyers get mortgages. In the end, some $850,000 in claims had to be paid on defaulted government-backed mortgages insured by the Federal Housing Administration (FHA). The problem: They did not qualify for the loans.

Mortgages 375

Mortgages Marketing Loans Finance 375

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. The original plan — to buy up troubled mortgage assets — was quickly abandoned in favor of actions like capital infusions for banks and the bailout of our auto companies.

Banks 311

Banks Loans Bankruptcy Mortgages 311

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.

Bankruptcy 338

Bankruptcy Loans Mortgages Equity 338

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. billion in mortgages in 2021. billion in mortgages in 2021. from the first six months of 2021.

Bankruptcy 414

Bankruptcy Loan Officer Mortgages Loans 414

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 350

Banks Bankruptcy Loans Investor 350

Housing Wire

AUGUST 3, 2023

Black Knight reported slimmer profits and slowing organic growth in the second quarter, largely due to weaker mortgage volume from clients as well as near-term effects from the proposed merger deal with Intercontinental Exchange (ICE). The company’s profit dropped 61% quarter over quarter to $55.3 million in Q2 2023. million in Q1 2023.

Bankruptcy 310

Bankruptcy Mortgages Development Loans 310

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.

Bankruptcy 307

Bankruptcy Loans Mortgages Title 307

Housing Wire

AUGUST 4, 2021

In March, Congress allocated $10 billion in funds to prevent homeowners from falling behind on their mortgage, losing utility services, or being displaced. 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.

Homeowner’s association 414

Homeowner’s association Bankruptcy Principal Development 414

Housing Wire

APRIL 18, 2024

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. A&D Mortgage is one example of an originator that is committed to prefunding quality control reviews.

Loans 360

Loans Due diligence Investor Technology 360

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 Failed to timely disburse borrowers’ tax payments from their escrow accounts and failed to properly conduct escrow analyses for borrowers during their Chapter 13 bankruptcy proceedings.

Bankruptcy 534

Bankruptcy Loans Mortgages Finance 534

Housing Wire

NOVEMBER 1, 2021

A component of the American Rescue Plan Act, the assistance fund was approved by Congress in March and allocates $10 billion to prevent homeowners from falling behind on their mortgage, losing utility services, or being displaced. during a panel in the Mortgage Bankers Association Conference in San Diego.

Homeowner’s association 377

Homeowner’s association Bankruptcy Principal Mortgages 377

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. . Through July 2021, AOMS [Angel Oak Mortgage Solutions] has originated $1.52 million,” the report states.

Lending 315

Lending Loans Bankruptcy Technology 315

Housing Wire

MAY 25, 2022

The most affordable manufactured homes are financed with private loans with higher interest rates, shorter terms and fewer consumer protections than mortgage loans. The GSEs, which back mortgages on traditional site-built homes, currently do not provide financing for chattel. That means the 17.5 A little bit jumbled.

Finance 352

Finance FHA loan Loans Bankruptcy 352

Housing Wire

JUNE 21, 2022

During this same time, our industry helped consumers take advantage of low interest rates to refinance mortgages. Their hard work kept a major part of the economy running during a challenging time when purchasing a home meant more than ever. Real estate is a $3 trillion industry in the United States.

Title 506

Title Title search Due diligence Land 506

Housing Wire

FEBRUARY 8, 2022

Newport Beach, California-based Excelerate Capital , a long-time non-QM lender with a growing market presence, finalized its acquisition of Castle Mortgage Corp. Non-QM mortgages include loans that cannot command a government, or “agency,” stamp through Fannie Mae or Freddie Mac.

Marketing 337

Marketing Lending Loans Bankruptcy 337

Housing Wire

JULY 1, 2022

Three former employees are suing First Guaranty Mortgage Corporation (FGMC) and financial backer Pacific Investment Management Company (PIMCO), alleging they were discriminated against on the basis of their gender and then retaliated against for complaining. . FGMC filed for Chapter 11 bankruptcy protection in Delaware on Thursday, June 30.

Loan Officer 298

Loan Officer Bankruptcy Loans Sales 298

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. Just for a moment, let’s imagine a world in which a person purchases a home shortly before a global pandemic.

Equity 415

Equity Loans Bankruptcy New Construction 415

Housing Wire

JUNE 9, 2022

That bolt-like spike in rates put many mortgage lenders into crisis mode. Still, a good portion of the lower-rate mortgage paper has worked its way through the system and is being replaced by higher-rate mortgage loans. Among the plans is an effort to develop an automated underwriting app for non-QM loans, he said.

Marketing 354

Marketing Loans Technology Bankruptcy 354

Housing Wire

JANUARY 7, 2021

Achieving Touchless Mortgage Automation. Effective solutions must be purpose-built for mortgages, rather than adapted horizontal technology. In this webinar, experts at SoftWorks AI and Tavant discuss critical components of a mortgage automation solution and how to evaluate technologies that best fit your business’ needs.

Industrial 309

Industrial Bankruptcy Technology Development 309

HomeLight

JULY 30, 2021

When you apply for a mortgage , you’re essentially asking a bank to hand you hundreds of thousands of dollars with the promise to pay it back over the next 15 to 30 years. The bank will ask for a list of mortgage documents to prove you’ll be able to repay the loan. What are mortgage documents? Bankruptcy discharge papers.

Loans 98

Loans Mortgages Bankruptcy Purchase and sale agreement 98

Point2Homes

JANUARY 22, 2021

If you’re in the market for a new home, it’s good to consider all of your options when it comes to mortgages. USDA mortgages are an extremely attractive option under the right circumstances, but they’re certainly not the best choice for everyone. How Does a USDA Mortgage Work? The Advantages of a USDA Mortgage.

Mortgages 98

Mortgages Bankruptcy Loans As-is 98

Realty Biz

SEPTEMBER 30, 2023

Mortgages with Low Credit Scores Mortgages with low credit scores can appear challenging, but there are options available. Understanding how a low credit score affects your mortgage and exploring government-backed programs can help you navigate the process. Can you buy a house with bad credit?

Finance 97

Finance Debt-to-income ratio FHA loan Mortgages 97

Housing Wire

APRIL 22, 2022

The mortgage market is facing a crisis today, and it’s being fueled by fast-rising interest rates. The mortgage industry, really the entire economy, is coping with fast-rising inflation further aggravated by jammed-up supply chains, the escalating war in Ukraine, and the related, expanding sanctions that are whipsawing the global economy.

Loans 369

Loans Lending Mortgages Investor 369

The Close

JULY 23, 2022

Know When & Where New Developments Are Being Built. If you develop relationships with builders, you can then educate your buyers on the process and offer them another option to get into a new home. There are great rewards for agents who take the time to meet and develop relationships with homebuilders.

Bankruptcy 111

Bankruptcy Purchase and sale agreement MLS Investor 111

McKissock

AUGUST 30, 2022

In other words, USPAP doesn’t prohibit a mortgage broker from calling and asking you to develop an appraisal based on a predetermined value, but USPAP does prohibit you from accepting that assignment. If they are not local, check up on them with the Better Business Bureau or an organization like the Mortgage Bankers Association.

Lending 81

Lending Bankruptcy Inspection Mortgages 81

HomeLight

JUNE 16, 2023

In some instances, prioritizing paying off your high-interest debt over your fixed-rate mortgage can expedite your journey to financial freedom. Enter Address How cash-out refinance to pay off debt works When you refinance your home , you take out a new mortgage to pay off your existing mortgage.

Fixed-rate mortgage 60

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

HomeLight

AUGUST 26, 2020

However, conventional loans come with their own set of benefits, like the ability to eliminate private mortgage insurance if you have a low down payment. If you’re torn between the two types of mortgages , here are the big differences between an FHA and a conventional loan. Mortgage insurance, private or otherwise. down payment.

FHA loan 54

FHA loan Loans Debt-to-income ratio Bankruptcy 54

HomeLight

NOVEMBER 9, 2021

Appraisal (verb) : an appraisal is the act or process of developing an opinion of value. Depending on the location and mortgage company, a qualified appraiser may hold either an associate or bachelor’s degree, have 12-18 months of experience working with an appraiser, and have an appraiser certificate or license. Qualified appraisal.

Purchase and sale agreement 86

Purchase and sale agreement Equity Bankruptcy Finance 86

Realtor.com

OCTOBER 30, 2020

On the east side of the street, getting a mortgage to buy a home is a breeze. Detroit is making a comeback after years of decline that led to a bankruptcy filing in 2013. But making mortgages in Detroit is a convoluted task. which is the nation’s largest mortgage lender by dollar amount lent and is based in Detroit.

Marketing 86

Marketing Bankruptcy Finance Banks 86