Housing Wire

JANUARY 26, 2024

There were a total of 361 consumer complaints submitted to the Consumer Financial Protection Bureau (CFPB) related to the reverse mortgage industry during the calendar year 2023, according to a consumer complaint database maintained by the Bureau. the parent company of Liberty Reverse Mortgage/PHH.

Mortgages 406

Mortgages Bankruptcy Industrial Closing 406

Realty Biz

MARCH 21, 2024

If you’re struggling financially and unable to pay your bills, you may have considered filing for bankruptcy. Filing for bankruptcy gives you a fresh start, but it stays on your credit report for up to 10 years — resulting in consequences for years to come. Instead, you can focus on one. Renting is another option, too.

Bankruptcy 102

Bankruptcy Equity Loans Principal 102

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.” One of the top 10 lenders that posted gains, however, was Open Mortgage. This is a different situation.”

Mortgages 438

Mortgages Bankruptcy Principal Finance 438

Housing Wire

MARCH 6, 2024

California-based mortgage lender CMG Financial will partner with fintech Sagent for seven years as it brings its servicing business in-house. After an exhaustive search, it was clear Sagent was the right servicing fintech partner with deep mortgage expertise plus highly configurable platforms needed to realize our homeowner-first vision.”

Bankruptcy 372

Bankruptcy Loan Officer Mortgages Investor 372

Housing Wire

JANUARY 16, 2024

Ginnie Mae intends to develop a new reverse mortgage-backed security product enabling the acquisition of loans from an HMBS pool above the existing 98% maximum claim amount (MCA) requirement, according to a new announcement. HECM warrants special attention because of demographic trends, and the financial circumstances of older Americans.

Mortgages 419

Mortgages Bankruptcy Loans Equity 419

Housing Wire

JULY 8, 2022

Just two days after it abruptly shut down its operations, non-QM lender Sprout Mortgage became the target of a class-action-seeking lawsuit. A deal for financing fell through and Strauss made the decision to pull the plug on Wednesday, sources said. First Guaranty Mortgage Corp. James Kleimann contributed reporting.

Mortgages 459

Mortgages Bankruptcy Loans Investor 459

Housing Wire

DECEMBER 8, 2020

In all, the Justice Department said the three lenders didn’t comply with federal bankruptcy procedures, which affected a total of 76,000 accounts beginning in 2011. The bank also waived approximately $43 million in fees across its mortgage servicing portfolio, including for borrowers in bankruptcy. In all, Mr. Cooper, U.S.

Banks 422

Banks Bankruptcy Finance Mortgages 422

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 359

Banks Bankruptcy Lending Finance 359

Housing Wire

NOVEMBER 2, 2023

Smart Rate Mortgage, LLC is no longer licensed as a residential mortgage company in Illinois. Smart Rate marked Strauss’s return to the mortgage market after abruptly shuttering Sprout Mortgage in July 2022. Mortgage tech platform Modex shows that Strauss, the only mortgage loan officer at Smart Rate, originated $5.56

Loan Officer 448

Loan Officer Bankruptcy Loans Residential 448

Realty Biz

APRIL 5, 2022

One of the frequently asked questions during today’s booming housing market is can I qualify for a mortgage during Chapter 13 Bankruptcy. Chapter 13 Bankruptcy is a court-approved debt repayment plan where their debts are restructured over a period of three to five years. Mortgage Options During Chapter 13 Bankruptcy.

Bankruptcy 120

Bankruptcy Debt-to-income ratio VA loan FHA loan 120

Housing Wire

FEBRUARY 3, 2021

Mortgage servicers received less complaints at the Consumer Financial Protection Bureau (CFPB) in the fourth quarter of 2020, according to data from Inside Mortgage Finance. The data showed that mortgage protests overall decreased by 6.7% in mortgage-related complaints. and criticisms about applications fell 8.6%.

Mortgages 368

Mortgages Bankruptcy Finance Loans 368

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 409

Mortgages Marketing Loans Finance 409

Housing Wire

JANUARY 3, 2024

Reverse mortgage servicing company Celink is seeking the dismissal of a lawsuit alleging that it had added unlawful servicing fees to reverse mortgage loans alongside now-bankrupt lender Reverse Mortgage Funding (RMF). In response to the recent recommendation by a magistrate judge against the dismissal of Dancy-Wilkins v.

Bankruptcy 373

Bankruptcy Loans Mortgages As-is 373

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 488

Technology Mortgages Bankruptcy Industrial 488

Housing Wire

OCTOBER 13, 2022

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 363

Mortgages Marketing Banks Loans 363

Housing Wire

JANUARY 5, 2021

It’s unclear what the deal values Stearns at, but the lender originated $20 billion in mortgages last year, according to Guaranteed Rate, which claims to have originated $73 billion in mortgages in 2020. Blackstone took full control of Stearns in fall 2019 after it exited bankruptcy due to significant debt problems.

Lending 538

Lending Bankruptcy Loans Mortgages 538

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 389

Bankruptcy Loans Mortgages Equity 389

Housing Wire

FEBRUARY 23, 2024

Rocket Companies , the parent of Rocket Mortgage , lost money in 2023 , but executives have expressed confidence about a big turnaround by touting investment in artificial intelligence (AI) to accelerate the company’s profitability. To the extent that you can get loans off your balance sheet faster, it lowers your financing costs.

Equity 414

Equity Bankruptcy Loans Mortgages 414

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

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 the first six months of 2022, down 42.7%

Bankruptcy 448

Bankruptcy Loan Officer Mortgages Loans 448

Housing Wire

DECEMBER 27, 2022

The first half of the year, with mortgage rates in the 3s and 4s, was like “Fast and Furious.” The number of home listings dried up , contracts were canceled , the few buyers still out there demanded concessions , mortgage rates spiked to 7% and homebuilder sentiment hit rock bottom. over asking price. High octane stuff.

Equity 510

Equity Marketing Loans Bankruptcy 510

Housing Wire

SEPTEMBER 21, 2022

through its mortgage-backed securities conduit Angel Mortgage Trust , has unveiled its sixth private-label securities (PLS) offering of 2022, even as fast-rising interest rates have jumped far ahead of the lower-rate legacy loans securing the deal. Angel Oak Mortgage Inc. Atlanta-based non-QM lender Angel Oak Cos. million.

Lending 409

Lending Loans Bankruptcy Mortgages 409

Housing Wire

MARCH 3, 2022

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.

Bankruptcy 329

Bankruptcy Investor Fixed-rate mortgage Loans 329

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 378

Banks Bankruptcy Loans Investor 378

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 537

Bankruptcy Loans Mortgages Finance 537

Housing Wire

NOVEMBER 9, 2022

The steady drumbeat of dour news in the mortgage industry punctuated by headlines announcing layoffs and closures among the ranks of independent mortgage banks continues to play out, with several lenders over the last two weeks adding to the torrent of pink slips. Some 80% of the volume in our industry is done by about 40% of the LOs.

Loan Officer 435

Loan Officer Loans Mortgages Industrial 435

Housing Wire

SEPTEMBER 8, 2022

When mortgage rates fall, the majority of homebuyers (including homeowners who need to sell to buy another home) are mostly employed, so lower rates greatly benefit them, and housing demand increases. As you can see below, we haven’t had the mortgage credit boom like we saw during the housing bubble years.

Loans 544

Loans Banks Equity Closing costs 544

Housing Wire

DECEMBER 21, 2021

As 2021 draws to a close, it’s clear that the private-label residential mortgage-backed securities (RMBS) market has notched a year for the record books. Non-QM mortgages include loans that cannot command a government, or “agency,” stamp through Fannie Mae or Freddie Mac. For the full year, the RMBS 2.0

Marketing 387

Marketing Loans Investor Bankruptcy 387

Housing Wire

SEPTEMBER 9, 2022

The pace of mortgage-backed securities (MBS) issuance in the nonagency market slowed considerably in July and August as rising interest rates and Federal Reserve MBS-purchase policy have combined to dampen the momentum exhibited in the private-label space in 2021 and over the first half of this year. billion over the same period in 2021.

Marketing 394

Marketing Fixed-rate mortgage Bankruptcy Mortgages 394

Housing Wire

JULY 27, 2022

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 380

Marketing Loans Investor Mortgages 380

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. Secondary Marketing.

Lending 418

Lending Bankruptcy Equity Loans 418

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 That’s a strong start for a new issuer. “A

Marketing 331

Marketing Debt-to-income ratio Loans Mortgages 331

Realty Biz

MAY 28, 2022

There is no point in applying for a mortgage in Brazil if you plan to live in the United States. You need to know your different mortgage options and which one is the best for you and your situation. Conforming loans are the best of the two because they follow the rules and regulations set by the Federal Housing Finance Agency (FHFA).

Mortgages 93

Mortgages VA loan Fixed-rate mortgage Bankruptcy 93

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 347

Lending Loans Bankruptcy Technology 347

Point2Homes

FEBRUARY 12, 2021

Aim to build a financial cushion that can take the strain off paying your bills and mortgage, buying groceries, or various unexpected expenses in case your main source of income is affected. 2020 has had a severe impact on the job market, resulting in unemployment and even bankruptcy for many people. Always Have a Plan B.

Finance 89

Finance Bankruptcy Loans As-is 89

Realty Biz

AUGUST 20, 2023

Mortgage pre-approval is an essential step when buying a house. How long it takes for lenders to give mortgage pre-approval can vary from a day to a week. Understanding Mortgage Pre-approval Before embarking on the journey to homeownership, it's crucial to understand the concept of mortgage pre-approval.

Pre-approval 93

Pre-approval Debt-to-income ratio Mortgages Loans 93

Housing Wire

MARCH 28, 2022

The figures are drawn from the prime and nonprime (or non-QM) residential mortgage-backed securities deals tracked by Kroll Bond Rating Agency (KBRA). With mortgage rates now hovering around 5%, compared with 3% or lower for much of last year, the low-hanging fruit of the refinancing market is now pretty much picked over.

Loans 354

Loans Lending Investor Mortgages 354