BAM Media

APRIL 3, 2025

1: Foreclosures & Bankruptcies Still Below Pre-Pandemic Levels Consumers still worry that were heading for a repeat of the Great Recession of 2008. Number one, foreclosures and bankruptcies were rising in 2005, -6, -7, and -8. If theyre relying on randoms spreading sensational news with zero accountability, they will be misled.

Bankruptcy

Rochester Real Estate

NOVEMBER 5, 2015

In the simplest terms the main difference is that a bank has its own lending criteria and offers loans by using its own funds. Did you know if you file a Chapter 13 bankruptcy, you can immediately apply for an FHA loan? If you have filed a Chapter 7 bankruptcy, the wait is only 2 years.

Finance

Rochester Real Estate

NOVEMBER 5, 2015

Lenders rely on credit scores to evaluate the risk of lending to borrowers. They include information about credit accounts, payment history, outstanding debts, and any public records related to financial matters, such as bankruptcies or liens.

Debt-to-income ratio

Housing Wire

MAY 2, 2025

David Dworkin He said that the budget as proposed would provide no better way to put more businesses into bankruptcy than by slashing Housing Choice Vouchers. He added there would be no better way to undercut the presidents entire housing affordability agenda than this HUD budget.

Bankruptcy

Housing Wire

DECEMBER 27, 2024

In February 2024, Guild struck a deal to acquire retail lending rival Academy Mortgage Corp. HousingWire tracked 37 mergers, acquisitions, exits and bankruptcies involving originators, servicers, tech platforms, and appraisal and valuation companies. adding 20% to 25% more volume, 1,000 employees and approximately 200 branches.

Mortgages

Housing Wire

JUNE 30, 2022

FGMC) and its affiliate Maverick II Holdings filed for Chapter 11 bankruptcy protection late Wednesday. . In the wake of the mass layoff on Friday, correspondent lending partners have complained about a total lack of communication with the company. The post After implosion, FGMC files for bankruptcy appeared first on HousingWire.

Bankruptcy

Housing Wire

APRIL 11, 2025

Not appearing on the list is the former HMBS portfolio of Reverse Mortgage Funding (RMF), which has been held by Ginnie Mae since shortly after the companys late 2022 bankruptcy. The final two spots on the rankings are occupied by SunWest Mortgage Company (nine pools with an original aggregate amount of $4.3

Mortgages

Housing Wire

JULY 21, 2022

Recent pleadings filed in the bankruptcy case of First Guaranty Mortgage Corp. FGMC and its affiliate, Maverick II Holdings LLC , on June 30 filed to reorganize under Chapter 11 bankruptcy protection. Samples reveals in his declaration that FGMC was hemorrhaging cash just prior to filing for bankruptcy protection — posting a $23.3

Bankruptcy

Housing Wire

JANUARY 5, 2021

Blackstone took full control of Stearns in fall 2019 after it exited bankruptcy due to significant debt problems. The post Guaranteed Rate to acquire Stearns Lending appeared first on HousingWire. The Chicago-based lender had two loan originators eclipse $1 billion in originations in 2020. This is a breaking news story.

Lending

Housing Wire

AUGUST 25, 2023

filed for Chapter 11 bankruptcy protection in Delaware, just two months after it got back into the forward mortgage origination business. Bankruptcy Court for Delaware. Other creditors in the AmeriFirst bankruptcy with unsecured claims exceeding $500,000 include – RCP Customized Credit Fund ($5.97 million, court pleadings show.

Bankruptcy

Housing Wire

JUNE 30, 2022

(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. Morgan Stanley & Co.

Bankruptcy

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. We are thrilled to introduce Kind Lending to the world.

Lending

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. Capabilities include loss mitigation, bankruptcy, foreclosure, invoicing and claims. Secondary Marketing.

Lending

Housing Wire

JANUARY 5, 2023

Silvergate’s provisional fourth quarter earnings report revealed that it exited its mortgage warehouse lending product in the fourth quarter of 2022 due to “the current macro environment, the rising interest rate environment and related reduction in mortgage volumes.”. billion in crypto-related deposits. million in severance payments and $1.3

Lending

Housing Wire

NOVEMBER 9, 2021

Post-2010, lending standards in America became normal again, and while I still believe they’re very liberal, they’re sane. As you can see below, when you lend to the capacity to own the debt, you should never see a rise in foreclosures or bankruptcies unless a job loss recession happens on a massive scale.

Bankruptcy

Housing Wire

DECEMBER 14, 2021

“Automated underwriting for agency [ Fannie Mae and Freddie Mac ] products is definitely much easier because there’s a defined set of scenarios that you have to meet,” says Keith Lind, executive chairman and president of Acra Lending (a non-QM lender formerly known as Citadel Servicing ).

Lending

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.” 31, 2022, special requirements for HECM reverse mortgage loan pools, TCB’s tail agreement and documents from RMF’s bankruptcy case unfolding in the U.S.

Lending

Housing Wire

OCTOBER 31, 2022

One of the unsung heroes of the most prolonged economic and job expansion ever recorded in history was the passing of the 2005 Bankruptcy Reform Act and the 2010 qualified mortgage rule under Dodd-Frank. Both these laws paved the way for more responsible lending and a more responsible consumer. Today, we are at 1.25

Bankruptcy

Housing Wire

JULY 28, 2023

It follows a request from the shuttered lender to halt the agreement due to an involuntary bankruptcy petition filed by three creditors. 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

DECEMBER 27, 2023

There were also a few cases of bankruptcy. HousingWire tracked 62 mergers, acquisitions, exits and bankruptcies covered by the newsroom in 2023. bankruptcies. ” Planet Home Lending: Focusing on MSRs Some M&A transactions are not motivated purely by the origination platform. exits and 3.2%

Mortgages

Housing Wire

JULY 16, 2021

Glenn Sanford’s eXp World Holdings announced Thursday a mortgage joint venture with Glenn Stearns’s Kind Lending , called Success Lending. The company will be headquartered in Santa Ana, California, Stearns said, home of Kind Lending. The second big mortgage joint venture announcement this week is a meeting of the Glenns.

Mortgages

Housing Wire

OCTOBER 12, 2023

Bankrupt retail lender AmeriFirst Financial is seeking approval for a private sale of loans from a Delaware bankruptcy judge to pay off two warehouse lenders and fund restructuring costs. AmeriFirst’s request for approval to sell its loans comes less than two months after it filed for Chapter 11 bankruptcy protection in late August.

Loans

Housing Wire

JANUARY 22, 2024

2023 , MV Realty filed for Chapter 11 bankruptcy in the 33 states it operates in. Under MV Realty’s Homeowner Benefit Agreement , the homeowner signs over the right to list their home for the next 40 years to MV Realty in exchange for a cash payment ranging from $300 to $5,000.

Bankruptcy

Housing Wire

AUGUST 22, 2022

where she was COO before the company declared Chapter 7 bankruptcy and folded. She was previously the COO at Glenn Stearns’ Kind Lending and Planet Home Lending. Lindblom joins the non-QM-focused lender following a stint at First Guaranty Mortgage Corp.

Bankruptcy

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

OCTOBER 14, 2020

Why it’s critical to automate processes associated with forbearance, loss mitigation, default management, and bankruptcy/foreclosure optimization. Panelist: John Heck, Senior Advisor of Lending Solutions, Capacity Jim Albertelli, CEO, Albertelli Law. The power of automating your help desk, processes,and decision-making.

Technology

Housing Wire

MARCH 7, 2024

This includes a strain on resources brought about by the assumption of a sizable portfolio of reverse mortgage-backed securities following the bankruptcy of a major lender in the space in 2022. The government-owned company has been sounding the alarm over the past year about a need for additional authority from Congress.

Bankruptcy

Housing Wire

FEBRUARY 17, 2023

The partnership was made public by Figure on Thursday and comes a day after an announcement from Celsius — which filed for bankruptcy in July 2022 — that it will be acquired by NovaWulf. Cagney’s attempt to bring blockchain technology to mortgage lending at scale dates back to August 2021. Figure Acquisition Corp.,

Bankruptcy

Housing Wire

SEPTEMBER 29, 2022

The pool of non-QM borrowers includes real estate investors, property flippers, foreign nationals, business owners, gig workers and the self-employed, as well as a smaller group of homebuyers facing credit challenges, such as past bankruptcies. Presented by: Acra Lending. How will non-QM perform for the rest of 2022?

Mortgages

Housing Wire

JUNE 14, 2024

New filings The filing, posted to the court docket on Friday morning, shows the immediate bankruptcy concern of leaders at RMF and the lack of willingness from other reverse mortgage industry participants to assume control of the full loan portfolio.

Bankruptcy

Housing Wire

JULY 22, 2022

FGMC) filed for Chapter 11 bankruptcy protection at the end of June — leaving four warehouse lenders on the hook for more than $415 million. The Flagstar text message leaked to the media in mid-July confirmed, going forward, funding advances for non-QM mortgages will require advance approval by the lender’s warehouse lending arm.

Lending

Housing Wire

FEBRUARY 23, 2024

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. Ginnie Mae accordingly implored TCB to lend money to RMF. But TCB was hesitant to lend money to a bankrupt company.

Banks

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

Investor

Housing Wire

SEPTEMBER 8, 2022

Well, it isn’t 2008, but this type of loan does have risk — and it’s the risk that is traditional among all late economic cycle lending in America when the loan requires low or no downpayment. Are we really doing those types of loans and promoting homeownership again without understanding the risks?

Loans

Housing Wire

DECEMBER 29, 2022

In 2008, the rise of foreclosures and bankruptcy were waving red flags before the job-loss recession even happened. Today, it’s the complete opposite story: the 2005 bankruptcy reform laws and the 2010 Qualified Mortgage laws laid the foundation for the best housing credit profiles recorded in U.S.

Marketing

Housing Wire

DECEMBER 10, 2021

“If you look in the last 15 to 20 years, the self-employed portion of the country has been increasing every year,” said Keith Lind, executive chairman and president of Acra Lending (formerly known as Citadel Servicing ). The pandemic has only accelerated that, with more people self-employed or wanting to be entrepreneurs.

Loans

Housing Wire

JUNE 12, 2024

This, combined with the 2005 Bankruptcy Reform law and the most prolonged economic and job expansion in our nation’s history before COVID-19, has created a favorable financial environment for American homeowners. This is the risk of late-cycle lending in the U.S., especially with anyone with a low or zero down payment loan.

Equity