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 391

Lending Bankruptcy Mortgages Principal 391

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 389

Investor Bankruptcy Finance Equity 389

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. The Flagstar text message leaked to the media in mid-July confirmed, going forward, funding advances for non-QM mortgages will require advance approval by the lender’s warehouse lending arm.

Lending 372

Lending Banks Bankruptcy Loans 372

Housing Wire

JANUARY 4, 2022

Pontiac, Michigan-based United Wholesale Mortgage (UWM) capitalized on a booming private-label market in 2021 by sponsoring its inaugural securities transaction this past May, a prime jumbo deal involving 508 mortgages with an aggregate principal balance of $351.9

Marketing 325

Marketing Debt-to-income ratio Loans Mortgages 325

Housing Wire

APRIL 22, 2022

For the sector of the mortgage market engaged in non-QM lending, the volatile rate environment is a particular challenge. Some non-QM lenders have parent companies in the private equity space or have affiliates organized as real estate investment trust, and some even have affiliated real estate mortgage investment conduits (REMICs).

Loans 384

Loans Lending Mortgages Investor 384

Toronto Realty Blog

JANUARY 5, 2023

So he’s not without equity. And if he is without equity, then the story here shouldn’t be about mortgage renewal rates but rather about people using their house as an ATM, living lavishly, and ignoring financial responsibilities. Filing for bankruptcy? He’s up a paltry $1,110 per month on two properties.

Banks 80

Banks Mortgages Bankruptcy As-is 80