Housing Wire

DECEMBER 27, 2024

HousingWire tracked 37 mergers, acquisitions, exits and bankruptcies involving originators, servicers, tech platforms, and appraisal and valuation companies. In 2024, M&A deals accounted for 76% of the total, followed by exits at 22% and bankruptcies at 2%.

Mortgages

Housing Wire

JANUARY 29, 2025

A securitization of private reverse mortgages originated by Reverse Mortgage Funding (RMF) will require additional review due to the lenders 2022 bankruptcy, according to a statement on the securitization issued by credit rating agency KBRA. The securitization features loans originated by RMF, which declared bankruptcy in late 2022.

Bankruptcy

Housing Wire

FEBRUARY 19, 2025

One of Ginnie Maes core functions in the reverse mortgage industry is providing liquidity through its Home Equity Conversion Mortgage ( HECM )-backed Securities ( HMBS ) program. on the reverse mortgage industry could be immediate. ” HMBS 2.0 ” HMBS 2.0 The potential impacts of HMBS 2.0

Bankruptcy

Housing Wire

APRIL 11, 2025

The leading issuers in the Home Equity Conversion Mortgage ( HECM )-backed Securities ( HMBS ) program during the first quarter of 2025 saw a couple of fluctuations quarter over quarter, but maintains two fewer issuers than it did at the same point in 2024. This is based on a recent tabulation published by New View Advisors. market share.

Mortgages

Housing Wire

JANUARY 8, 2024

The presiding judge in the ongoing bankruptcy case of Reverse Mortgage Funding (RMF) has approved a stipulation that would resolve an administrative claim made against the company’s estate by reverse mortgage servicing company Celink , authorizing both companies to consummate the agreement. Celink continues to defend itself in both cases.

Bankruptcy

Housing Wire

JUNE 30, 2022

FGMC) and its holding company, Maverick II Holdings LLC, filed for Chapter 11 bankruptcy protection Thursday, June 30, leaving one of the country’s major warehouse lenders as its largest unsecured creditor, according to court filings. The lender then filed for Chapter 11 bankruptcy on Thursday, June 30. First Guaranty Mortgage Corp.

Bankruptcy

Housing Wire

JANUARY 22, 2021

Citing anonymous sources, Bloomberg reported that CoStar Group and a private equity group led by Warburg Pincus are currently competing for the data provider, though it is unclear if either have made an offer yet. The post CoStar and private equity group battle for CoreLogic appeared first on HousingWire. Presented by: Black Knight.

Equity

Housing Wire

MARCH 26, 2024

As the person relaxes on the couch watching television at night, they occasionally check the current value of their home and do a rough calculation of the amount of equity that they have accrued. Stated differently, you are dealing with individuals that may be in an equity prison. It comforts them for a brief moment.

Equity

Housing Wire

DECEMBER 27, 2022

They are not selling and have a lot of equity in their homes. The elevated mortgage rate environment has created a mortgage rate lockdown effect of sorts, limiting the pool of customers for the mortgage industry. Homeowners in 2022 also tapped into their home equity, which peaked at $11.5

Marketing

Housing Wire

APRIL 10, 2024

The company also provides commentary for its fourth quarter 2023 financial performance, assesses its market advantages and offers an assessment of impacts stemming from changes in Ginnie Mae ’s Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program.

Investor

Housing Wire

AUGUST 15, 2024

8 was a nearly 400-page appendix of agreement terms, program information and correspondence between Ginnie Mae, TCB and leaders at Reverse Mortgage Funding (RMF), the former lender at the center of the dispute that filed for bankruptcy in late 2022. The first filing made on Aug.

Bankruptcy

Housing Wire

NOVEMBER 2, 2020

As a premier provider of innovative, high-performance software, data and analytics for mortgage and home equity lending and servicing, Black Knight is transforming the housing finance industry. Black Knight is a proven mortgage industry leader in servicing technology. Originations. Secondary Marketing.

Lending

Housing Wire

JANUARY 11, 2024

In the initial October complaint, TCB alleged that the government-owned company “extinguished, in return for no consideration, TCB’s first priority lien on tens of millions of dollars in collateral” stemming from the Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgage (HECM) program.

Lending

Housing Wire

JANUARY 16, 2024

Released on Tuesday morning, the move is a further attempt to address the well-documented liquidity challenges that have been plaguing the reverse mortgage business for most of the past year, stemming from the late 2022 bankruptcy of Reverse Mortgage Funding (RMF), the run-up in interest rates and a precipitous drop in loan volume.

Mortgages

Housing Wire

MAY 30, 2024

Ginnie Mae is aiming to roll out plans for its new Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) product by the end of the year, according to acting president Sam Valverde, who spoke at the National Reverse Mortgage Lenders Association (NRMLA) Eastern Regional Meeting in Washington, D.C., on Wednesday.

Bankruptcy

Housing Wire

FEBRUARY 5, 2021

“We have assembled the best in the industry and they have provided the rocket fuel to succeed,” Stearns said. At the time, the bankruptcy was being conducted by Blackstone , the private equity giant that acquired a majority stake in Stearns parent company, Stearns Holdings , back in 2015.

Lending

Housing Wire

SEPTEMBER 22, 2023

For existing homeowners, that’s good news because it means equity accumulation. These loans are going to refinance, and the consumer will be in good shape, building equity to become a move-up buyer. Kim: Bankruptcies and layoffs are still happening. How far are we into the industry’s consolidation?

FHA loan

Housing Wire

JUNE 14, 2024

New filings The filing, posted to the court docket on Friday morning, shows the immediate bankruptcy concern of leaders at RMF and the lack of willingness from other reverse mortgage industry participants to assume control of the full loan portfolio. Ginnie Mae ultimately seized the RMF servicing portfolio on or about Dec.

Bankruptcy

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.

Bankruptcy

Housing Wire

JANUARY 4, 2024

When assessing December’s Home Equity Conversion Mortgage (HECM) volume data for December 2023, Reverse Market Insight (RMI) used a choice word as the title for its commentary : “thud.” Any time we see exits and consolidations we tend to see a dip in industry production for a time,” McCue said. “In This is a different situation.”

Mortgages

Housing Wire

JANUARY 31, 2022

MSP is a single, comprehensive platform used by servicers of all sizes to support a wide range of loan products, including first mortgages and home equity loans and lines of credit on a single system. MSP is used to service approximately 36 million loans,” Black Knight President Joe Nackashi said. Anthony Jabbour, CEO.

Loans

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

Housing Wire

FEBRUARY 18, 2022

Redfin plans to completely revamp its mortgage services in 2022 following the expected acquisition of Bay Equity Home Loans in the second quarter. And while Zillow has scrapped iBuying, which all evidence so far points to as a money-hemorrhaging industry , Kelman said that Redfin will stay the course. “We When in doubt we go low.”.

Bankruptcy

Housing Wire

FEBRUARY 23, 2024

In 2023 alone, the mortgage industry saw a total of 62 merger and acquisition transactions, lender exits and bankruptcies. To court more clients, Rocket launched products targeted at accumulated home equity levels and potential homebuyers who face affordability challenges.

Bankruptcy

Housing Wire

JUNE 21, 2024

The title industry trade group, along with AARP, have spearheaded the effort to outlaw the agreements. Hopefully, the swift action taken by lawmakers, along with state attorneys general, will be a strong deterrent to those looking to perpetuate similar schemes that strip hard-earned equity from people’s homes.”

Title

Housing Wire

APRIL 10, 2023

And all of this helps create a more integrated (and more importantly, streamlined) lender-title workflow that empowers the collective to achieve the all-elusive 5-day close for home equity or 10-day close for refinance. HW: Almost every area of housing is focused on improving the consumer experience.

Title

Housing Wire

MARCH 1, 2024

The funds will ultimately go to companies including Mirae Asset Securities , Industrial and Commercial Bank of China Financial Services (ICBC), Flagstar Bank , Customers Bank and the bankruptcy estate of Live Well itself, according to court filings reviewed by RMD. The final amount will be determined by the trial judge. million.

Banks

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

Housing Wire

SEPTEMBER 18, 2023

Tom George : The way Constellation operates is that we focus on acquiring vertical market software companies and portfolios of vertical market software companies with the intent to stay in these industries forever. How does the company expect to manage profit amid industry consolidation , bankruptcies and attrition?

Technology

Housing Wire

OCTOBER 13, 2022

The firm specializes in asset-backed credit, whole loans and private equity. Capasse sees the headwinds facing the independent mortgage banking industry over the next couple years as being near hurricane-force in their impact. “We There likely will be 40 to 50 deals done this year. Garth Graham, senior partner at stratmor group.

Mortgages

Housing Wire

DECEMBER 13, 2024

Importantly, the association said that the recent development of Ginnie Maes new, complementary Home Equity Conversion Mortgage ( HECM )-backed Securities ( HMBS ) product known as HMBS 2.0 then, youre welcome, forward mortgage industry, Kelly said. could serve as a logistical template for such a product.

Bankruptcy

Housing Wire

SEPTEMBER 29, 2022

MAXEX is an Atlanta-based fintech company that is backed by leading private-equity and capital-markets investors, including J.P. The growth of this fragmented market requires standardization to meet the long term needs of the consumer and the industry, [and] MAXEX is committed to providing that, just as we have for jumbo loans.”.

Marketing

Housing Wire

JANUARY 4, 2022

Most of the buyers are move-up buyers, and if you’re moving up to buy the property, you’re tapping into the equity from the property you’re selling, which is also going up in value 20% [year-over-year],” he added. “I I don’t think we’re seeing a lot of 3%- or 5%-down mortgages on those higher-priced homes. …

Marketing

Housing Wire

JULY 22, 2022

FGMC) filed for Chapter 11 bankruptcy protection at the end of June — leaving four warehouse lenders on the hook for more than $415 million. We’re prepping as if this is going to be a 12- to 24-month downcycle for us as an industry. Non-QM lender First Guaranty Mortgage Corp. That’s probably a little more common than people think.”.

Lending

Housing Wire

MARCH 28, 2022

Consequently, the hunt is on for opportunities in the purchase market, and that’s why non-QM lending is expected to become a sweet spot in the mortgage market, according to industry observers. Non-QM guidelines iterate on a quarterly basis, sometimes on a monthly basis,” Yoon said.

Loans

Housing Wire

APRIL 22, 2022

It’s a crisis that one industry executive describes as “a situation where we have to get the pig through the belly of the python.”. I can’t speak broadly for the industry, but we’ve acquired in excess of $500 million between loan trades and forward commitments in the last two weeks. SECURITIZATION & LOAN SALES.

Loans

McKissock

AUGUST 7, 2022

When people could not make their mortgage payments, the housing bubble burst and thousands of homes were foreclosed, multiple big-name lenders declared bankruptcy, and the market required government bailouts. This crash didn’t just affect the real estate industry. Other fields also faced bankruptcy due to credit issues.

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