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 428

Mortgages Bankruptcy Principal Finance 428

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 403

Investor Bankruptcy Finance Equity 403

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 326

Bankruptcy Banks Mortgages Loans 326

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 368

Lending Mortgages Bankruptcy Banks 368

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 408

Lending Bankruptcy Mortgages Principal 408

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 478

Technology Mortgages Bankruptcy Industrial 478

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 382

Mortgages Bankruptcy Banks Brokerage 382

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 395

Mortgages Bankruptcy Loans Investor 395

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 427

Mortgages Bankruptcy Loans Investor 427

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 415

Mortgages Technology Loans Loan Officer 415

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 403

Mortgages Lending Bankruptcy Brokerage 403

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 417

Mortgages Loans Bankruptcy Industrial 417

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 369

Mortgages Marketing Banks Loans 369

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 443

FHA loan Bankruptcy Marketing Loans 443

Housing Wire

MAY 20, 2024

A recently released report from the Financial Stability Oversight Council (FSOC) that identifies vulnerabilities at nonbank mortgage servicers and makes some recommendations to avoid systemic risk is a ”tall order” for state regulators but isn’t only a ”wishful list,” according to Jason Cave, senior consultant at Patomak Global Partners.

Bankruptcy 242

Bankruptcy Finance Mortgages Banks 242

Housing Wire

APRIL 18, 2024

The loan repurchase trend that began to sting many mortgage originators in 2022 appears to finally be winding down, according to a recent report by Sterling Point Advisors and Augment Analytics. A&D Mortgage is one example of an originator that is committed to prefunding quality control reviews.

Loans 399

Loans Due diligence Investor Technology 399

Housing Wire

NOVEMBER 28, 2023

Mike Darne: In good times when qualified mortgage borrowers are plentiful, most originators don’t give a suboptimal credit score a second glance. A glance at the headlines will tell you that more industry leaders are beginning to take the borrower’s credit seriously. HW: You’ve spoken of credit optimization.

Bankruptcy 385

Bankruptcy Loans Mortgages As-is 385

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 519

Equity Marketing Loans Bankruptcy 519

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 393

Mortgages Marketing Loans Finance 393

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 383

Bankruptcy Loans Mortgages Equity 383

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. It boils down to increasing capacity at scale via higher productivity.

Equity 402

Equity Bankruptcy Loans Mortgages 402

Housing Wire

FEBRUARY 5, 2021

Kind Lending , national wholesale mortgage lender and second brainchild to mortgage veteran Stearns, announced that the lender originated $1 billion in the first six months of production – a feat that took Stearns first company, Stearns Lending , 15 years to accomplish. Glenn Stearns is back, and not just on television.

Lending 350

Lending Bankruptcy Mortgages Title 350

Inman

JUNE 28, 2023

The company intends to sell "substantially all of its assets," including its technology platform to pay creditors that include thousands of retail investors.

Bankruptcy 147

Bankruptcy Investor Technology Industrial 147

Housing Wire

OCTOBER 31, 2023

1 reason a mortgage loan applicant is denied for a loan is a problem with their credit score. In good times when qualified mortgage borrowers are plentiful, most originators don’t give a suboptimal credit score a second glance. That means that credit optimization can benefit nearly every mortgage applicant.

Bankruptcy 378

Bankruptcy Loans Mortgages As-is 378

Housing Wire

AUGUST 9, 2022

The latest non-QM player to feel the pain of the interest rate volatility afflicting the nation’s housing market this year is a Pasadena, California-based real estate investment trust called Western Asset Mortgage Capital Corp. The REIT, which is managed by investment advisor Western Asset Management Co. million loss in the first quarter.

Marketing 387

Marketing Bankruptcy Loans Principal 387

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. Garth Graham, senior partner at stratmor group.

Loan Officer 407

Loan Officer Loans Mortgages Industrial 407

Housing Wire

JUNE 21, 2022

As someone who spent a career in the title insurance industry – both as a builder of a title business and leader of the industry’s trade group, — I am proud of the role we play in helping to protect what most Americans consider the biggest purchase of their lives. Real estate is a $3 trillion industry in the United States.

Title 509

Title Title search Due diligence Land 509

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 535

Bankruptcy Loans Mortgages Finance 535

Inman

SEPTEMBER 5, 2023

Fallout from the bankruptcy of reinsurer Vesttoo Ltd. ripples through the insurance industry, with Texas regulators keeping tabs on Homeowners of America Insurance Co.

Bankruptcy 149

Bankruptcy Industrial Mortgages 149

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 377

Banks Bankruptcy Loans Investor 377

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 387

Marketing Fixed-rate mortgage Bankruptcy Mortgages 387

Housing Wire

FEBRUARY 18, 2022

You can’t please all the people all of the time, but Redfin is a unique real estate brokerage , an instant homebuyer, a popular listings website, a platform for renters, a mortgage company, a title company, a concierge service, and a research service on the U.S. housing market. What does that all add up to? When in doubt we go low.”.

Bankruptcy 395

Bankruptcy Brokerage Title Equity 395

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 401

Lending Bankruptcy Equity Loans 401

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 366

Banks Bankruptcy Commercial Equity 366

Housing Wire

FEBRUARY 8, 2022

Newport Beach, California-based Excelerate Capital , a long-time non-QM lender with a growing market presence, finalized its acquisition of Castle Mortgage Corp. Non-QM mortgages include loans that cannot command a government, or “agency,” stamp through Fannie Mae or Freddie Mac. The growth is going to happen, regardless.

Marketing 363

Marketing Lending Loans Bankruptcy 363

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 341

Bankruptcy Investor Fixed-rate mortgage Loans 341

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 393

Lending Loans Bankruptcy Mortgages 393