Housing Wire

MAY 15, 2025

In an era of high mortgage rates and stagnant home sales , a real estate transaction model is making waves by reintroducing and standardizing a once-popular financing method. Ive helped a lot of divorcees who have terrible credit and people that are a few months out of bankruptcy get into a home. Credit score isnt everything, he said.

Finance

Housing Wire

NOVEMBER 21, 2024

UBS analyst Douglas Harter recently made waves after he took a closer look at the stock of reverse mortgage industry leader Finance of America (FOA). But on a longer-term basis, there is likely to be more appreciation owing to the demographics working in the reverse mortgage industry’s favor.

Bankruptcy

BAM Media

APRIL 3, 2025

We can think of no better example of that than last weekends online drama over a Patrick Bet-David Tweet that went viral by using a chart on the multifamily mortgage delinquency rate to sound the alarm on homeowner delinquencies. Number one, foreclosures and bankruptcies were rising in 2005, -6, -7, and -8. housing market.

Bankruptcy

BAM Media

APRIL 1, 2025

The latest mortgage delinquency data sparked a social media frenzy this weekend, with claims that homeowners are under serious financial stress. million Americans are behind on their mortgage. FHA loans account for 90% of the increase , despite making up less than 15% of all active mortgages. Foreclosures and bankruptcies?

Mortgages

Rochester Real Estate

NOVEMBER 5, 2015

Top Mortgage Blogs From 2017 Best Mortgage & Home Financing Blogs From 2017 We’re back! Top Mortgage Blogs From 2017 Best Mortgage & Home Financing Blogs From 2017 We’re back! This week we’re highlighting the best mortgage blogs from this year!

Finance

Seattle Times Real Estate

JUNE 16, 2025

Advertising Selig has made a career of comebacks, repeatedly shrugging off bankruptcies, foreclosures and litigation by unhappy contractors. That’s making it harder to cover mortgage payments or refinance maturing loans, especially in today’s high-interest environment. I just don’t see that happening.”

Commercial

Housing Wire

DECEMBER 27, 2024

David Neylan, president and chief operating officer at retail lender Guild Mortgage , expects the landscape to remain challenging for mortgage companies in 2025. In February 2024, Guild struck a deal to acquire retail lending rival Academy Mortgage Corp. The 30-year conforming mortgage rate, which climbed to about 7.6%

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. Given RMFs bankruptcy, no such notice was provided.

Bankruptcy

Seattle Times Real Estate

JUNE 9, 2025

Lower incomes affect potential homebuyers’ ability to secure a mortgage, the study noted. To access the loans, buyers must complete all the steps of qualifying for a mortgage “just like anybody else does,” LaFlamme said. We have to prove that they’re going to be able to repay the loan, just like every other mortgage.”

Loans

Housing Wire

FEBRUARY 19, 2025

Staffing cuts at Ginnie Mae could table or delay the rollout of a complementary reverse mortgage securities program announced last year, according to an interview with a former Ginnie Mae official who requested anonymity out of fear of retaliation and reports of staff cuts by multiple outlets. ” HMBS 2.0 ” HMBS 2.0

Bankruptcy

Housing Wire

JUNE 30, 2022

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. . The debtor-in-possession financing, however, needs the Delaware bankruptcy court’s approval.

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. The third-place ranking shifted in Q1, with PHH Mortgage Corp. 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.

Bankruptcy

Housing Wire

JUNE 4, 2024

Hometown Lenders has filed for Chapter 11 bankruptcy protection in Alabama, blaming the Federal Reserve’s policy to curb inflation for its debacle. According to mortgage tech platform Modex , it originated $3.3 “As a result of the sharp rise in mortgage rates, the Debtor’s top-line revenues declined by over 70%.”

Bankruptcy

Housing Wire

DECEMBER 19, 2024

After initially entering the mortgage business in 2003 following a career change from accounting, Rick Rodriguez was reading a book about mortgages that included a chapter on the reverse mortgage product. This led him to an experience that convinced him that the product had a place in the wider mortgage ecosystem.

Bankruptcy

Housing Wire

JANUARY 17, 2024

The bankruptcy plan administrator for Reverse Mortgage Investment Trust (RMIT), the parent company of former industry lender Reverse Mortgage Funding (RMF), has filed a court petition to convert from Chapter 11 bankruptcy to Chapter 7 bankruptcy.

Bankruptcy

Housing Wire

JUNE 30, 2022

First Guaranty Mortgage Corp. 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.

Bankruptcy

Redfin

FEBRUARY 25, 2025

If buying a home feels impossible, consider one of these cities As house prices rise and mortgage rates settle into a new normal , affordability is becoming a top priority for many people deciding where to live. It is so cheap largely because of its economic and population decline , which culminated in bankruptcy in 2013.

Sales

Housing Wire

DECEMBER 27, 2023

Guild Mortgage has an ambitious plan under the leadership of its new CEO, Terry Schmidt. United Wholesale Mortgage , the top lender in the country by volume, claimed just under 8% total market share over the first nine months of 2023. nationally, per Inside Mortgage Finance (IMF) estimates. bankruptcies. It won’t be easy.

Mortgages

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

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. Beyond that will depend on what happens to rates.”

Mortgages

Housing Wire

JANUARY 5, 2023

Silvergate Capital Corporation , parent company of Silvergate Bank , which provided services to Sam Bankman-Fried’s now-collapsed crypto empire, walked away from its mortgage warehouse business and cut workforce by 20% as clients pulled $8.1 billion in crypto-related deposits. Securities and Exchange Commission filing.

Lending

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

Housing Wire

SEPTEMBER 1, 2021

A 50-year-old former unlicensed mortgage broker from Long Island, New York, pleaded guilty Wednesday to defrauding clients and wholesale lenders out of $4.7 million in mortgage refinancing proceeds that were supposed to pay off existing client mortgages. Prior to working at mortgage brokerage Bliss Home Funding Corp.

Mortgages

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. First Guaranty Mortgage Corp. FGMC) and its affiliate Maverick II Holdings filed for Chapter 11 bankruptcy protection in late June after suddenly cutting hundreds of jobs.

Mortgages

Housing Wire

JULY 16, 2021

The second big mortgage joint venture announcement this week is a meeting of the Glenns. Glenn Sanford’s eXp World Holdings announced Thursday a mortgage joint venture with Glenn Stearns’s Kind Lending , called Success Lending. The Mobile “Must-Haves” Reshaping Mortgage Technology. Presented by: SimpleNexus.

Mortgages

Housing Wire

JULY 29, 2021

In light of this important industry and policy topic, I thought it instructive to provide further insight into the arguments raised from that previous piece. In light of this important industry and policy topic, I thought it instructive to provide further insight into the arguments raised from that previous piece.

Mortgages

Housing Wire

JULY 28, 2023

million settlement with Sprout Mortgage for unpaid wages goes through. million on mortgage purchase agreements. New Wave Lending Group , JMJ Financial Group and EF Mortgage filed on July 5 an involuntary petition against Sprout under Chapter 7 of the Bankruptcy Code in a New York court, claiming the lender owes $1.3

Bankruptcy

Housing Wire

SEPTEMBER 18, 2023

Read on to learn more about Dark Matter Technologies’ plan for mortgage. 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.

Technology

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

JANUARY 19, 2023

When industry veteran Michael Strauss abruptly shut down Long Island-based Sprout Mortgage in early July, there was uproar. The lawsuits quickly came pouring in, but Strauss never did seek bankruptcy protection for Sprout or its affiliates. Michael Jeffrey Strauss registered a company called Smart Rate Mortgage, LLC.,

Mortgages

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

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

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.

Marketing

Housing Wire

OCTOBER 12, 2023

Within mortgage companies, even those that have huge scale versus small scale, they’re offering really the same borrower experience and the same loan officer experience. SW: How does that impact you as a mortgage lender CEO? You’re signing a contract in 2020-2021 when the industry is doing $3.5 Well, then what?

Mortgages

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

Housing Wire

SEPTEMBER 22, 2023

The Federal Reserve ‘s effort to temper inflation has cooled the housing market that remains subdued with mortgage rates north of 7%. this week, Fannie Mae Chief Economist Doug Duncan believes that mortgage rates will stay elevated before the Fed makes further rate cuts. “We’ve Kim: Spreads in the mortgage space are wide.

FHA loan