Housing Wire
APRIL 10, 2024
The company also said it “continues to evaluate new products to reach additional segments of the population facing a retirement gap,” and describes recent reverse mortgage industry consolidation following influential industry changes in 2017 and the 2022 bankruptcy of Reverse Mortgage Funding (RMF). “As
Housing Wire
JANUARY 11, 2024
TCB’s contract with RMF and the bankruptcy court order also expressly stated that TCB’s right to a lien was subject to GNMA’s extinguishment rights.” Ginnie Mae, however, says that TCB is attempting “to draw a distinction between the original principal balance” and the tails, which is an argument the government claims is unsupported. “[T]he
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Housing Wire
JANUARY 4, 2024
Any time we see exits and consolidations we tend to see a dip in industry production for a time,” McCue said. “In million of [unpaid principal balance (UPB)] that may not otherwise have been issued in December.” Beyond that will depend on what happens to rates.” This is a different situation.” This is a different situation.”
Housing Wire
DECEMBER 27, 2022
The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. The elevated mortgage rate environment has created a mortgage rate lockdown effect of sorts, limiting the pool of customers for the mortgage industry. Layoffs, LOs leaving the industry for good. over asking price. High octane stuff.
Housing Wire
AUGUST 9, 2022
That’s based on a comparison of the principal balance of the loans on the books and their fair market value as reported by the REIT as of that date. The principal balance of WMC’s residential whole loan portfolio at June 30 stood at $1.24 It’s volatile out there. Coping with a liquidity squeeze.
Housing Wire
MARCH 23, 2022
We expect it to be a challenging [mortgage] market from a volume perspective due to interest rates and credit spreads,” said David Pelka, head of RMBS business and a principal at CarVal. Non-QM mortgages also go to a slice of borrowers facing credit challenges — such as a recent bankruptcy or slightly out-of-bounds credit scores.
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.
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