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After implosion, FGMC files for bankruptcy

Housing Wire

Less than a week after laying off hundreds of workers and refusing new mortgage applications, First Guaranty Mortgage Corp. FGMC) and its affiliate Maverick II Holdings filed for Chapter 11 bankruptcy protection late Wednesday. . They are particularly worried about loans already approved but not purchased by FGMC. .

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Opinion: The larger risk from a barely noticed CFPB lawsuit

Housing Wire

As all participants in the mortgage industry know, securitization is a critical tool for making loans to homeowners at affordable rates. The process of bundling loans and separating risks makes available fixed-rate mortgages that are fully prepayable at borrowing costs well below other forms of debt.

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Angel Oak confronts the challenges of market volatility, fast-rising rates

Housing Wire

through its Angel Oak Mortgage Trust conduit, recently unveiled its latest private-label securitization (PLS) offering — a deal slated to close in early August backed by 788 predominately non-QM loans valued at $362 million. through its affiliated companies, including real estate investment trust, or REIT, Angel Oak Mortgage Inc.

Marketing 356
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Private-label MBS market facing strong headwinds

Housing Wire

That’s less than half the volume of private-label securitizations tracked by KBRA over the same two-month period in 2021, when there was a total of 44 RMBS transactions backed by loan pools valued at $19.4 Less than one year later, in June 2022, the rate reached 5.8% …. “In billion over the same period in 2021.

Marketing 350
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Specter of the S&L crisis haunts today’s mortgage market

Housing Wire

In the reflection, a mortgage executive sees faint images of the savings and loan crisis of the 1980s and 1990s. The financial chaos that sparked the savings and loan crisis of the 1980s, leading to a government bailout, now haunts the independent mortgage banking market this Halloween season — and beyond.

Mortgages 358
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Mortgages with Low Credit Scores - Your Guide to Affordable Home Financing

Realty Biz

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. Let's delve deeper into these topics to guide you towards an affordable home financing solution.

Finance 97
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Different Mortgage Options Explained

Realty Biz

You need to know your different mortgage options and which one is the best for you and your situation. Conventional Home Loan- This is the primary type of loan that most of you will already be familiar with. It is a loan that is not backed by any government entities.