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 348

Lending Mortgages Bankruptcy Banks 348

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 336

Lending Loans Bankruptcy Technology 336

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 393

Lending Bankruptcy Equity Loans 393

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 301

Bankruptcy Banks Mortgages Loans 301

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 498

Bankruptcy Mortgages Lending Loans 498

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 390

Mortgages Bankruptcy Lending Loan Officer 390

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

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 517

Bankruptcy Lending Equity Mortgages 517

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 392

Loans Bankruptcy Sales Commercial 392

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 404

Bankruptcy Brokerage Lending Agents 404

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 390

Investor Bankruptcy Finance Equity 390

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 359

Bankruptcy Lending Loans Banks 359

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 333

Banks Bankruptcy Lending Finance 333

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 363

Mortgages Bankruptcy Lending Investor 363

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 397

Mortgages Lending Bankruptcy Brokerage 397

Housing Wire

MAY 13, 2024

Reducing competition and credit availability while increasing borrowing costs is antithetical to regulators’ goals of a diverse and robust market for mortgage lending and servicing,” Broeksmit said in a prepared statement.

Bankruptcy 272

Bankruptcy Finance Mortgages Banks 272

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 279

Bankruptcy Equity Technology Lending 279

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 370

Lending Banks Bankruptcy Loans 370

Housing Wire

NOVEMBER 10, 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.

Loans 304

Loans Bankruptcy Loan Officer Lending 304

Housing Wire

NOVEMBER 21, 2022

FGMC) , controlled by global investment management firm PIMCO, filed for Chapter 11 bankruptcy protection in June. Amid surging rates, declining volumes and a reduced appetite from investors in the secondary market, there are a growing number of casualties in the mortgage space, especially in the riskier non-QM segment.

Commercial 349

Commercial Residential Bankruptcy Investor 349

Housing Wire

SEPTEMBER 21, 2022

With inflation and rising rates, non-QM lending has spent the last few months in choppy waters, with some lenders closing their doors. However, the outlook for non-QM for the rest of 2022 is relatively optimistic, according to Acra Lending CEO Keith Lind. Presented by: Acra Lending. How will non-QM perform for the rest of 2022?

Lending 389

Lending Loans Bankruptcy Mortgages 389

RIS Media

FEBRUARY 4, 2021

If you have declared bankruptcy in the past, that can complicate things, but you may still be able to get preapproved. If you get preapproved, the company will send you a letter telling you the maximum amount it’s willing to lend you to buy a house. How Can a Bankruptcy Affect Your Credit?

Bankruptcy 53

Bankruptcy Loans Lending Mortgages 53

Housing Wire

AUGUST 30, 2022

Nor can we ever have a credit sales boom again with lending standards back to normal. The next job loss recession, when it happens, will have more foreclosures, short sales, and bankruptcies. However, we haven’t had a credit sales boom like the one we saw from 2002-2005. million listings.

Bankruptcy 384

Bankruptcy Days on market Sales Short sale 384

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 543

Loans Banks Equity Closing costs 543

Housing Wire

JANUARY 19, 2023

The lawsuits quickly came pouring in, but Strauss never did seek bankruptcy protection for Sprout or its affiliates. The company was sued by former employees , vendors and business partners, such as Banc of California , New Wave Lending Group , Merchants Bank of Indiana , FirstFunding and Loan America.

Mortgages 397

Mortgages Bankruptcy Loans Investor 397

Housing Wire

AUGUST 9, 2022

Keith Lind, CEO of non-QM lender Acra Lending , said rates for non-QM loans through his company were “in the high 7% [range]” for July” up from 4.5% filed for Chapter 11 bankruptcy protection at the end of June — leaving four warehouse lenders on the hook for more than $415 million. for the February offering and 5.5%

Marketing 376

Marketing Bankruptcy Loans Principal 376

Housing Wire

FEBRUARY 8, 2022

in early 2021 as part of a larger plan to expand its origination reach beyond California — with the goal of creating a national lending footprint. . With the Castle acquisition and tech integration now completed, our intent is to lend nation nationwide in the non-QM market. The growth is going to happen, regardless.

Marketing 351

Marketing Lending Loans Bankruptcy 351

Housing Wire

JUNE 21, 2022

It plays an essential role in the economics of homeownership, ensuring that credit reaches those who need it and providing safeguards to those who lend it. Title insurance is imperative for lenders to ensure the borrower has ownership rights to a property, but it doesn’t just protect against problems affecting title.

Title 512

Title Title search Due diligence Land 512

Housing Wire

MARCH 28, 2022

As the end of the first quarter of 2022 approaches, the expected blossoming of the non-QM lending space in the private label market is well underway. . Consequently, the hunt is on for opportunities in the purchase market, and that’s why non-QM lending is expected to become a sweet spot in the mortgage market, according to industry observers.

Loans 355

Loans Lending Investor Mortgages 355

Housing Wire

MARCH 31, 2022

The speculative debt boom we saw from 2002-to 2005 can’t be repeated with the current lending standards in place. Fixed low debt cost with rising wages creates better cash flow Post-2010, the lending standards have been great — we made American mortgage debt great again! This is a good thing, it protects us well in downturns.

Bankruptcy 526

Bankruptcy Lending Mortgages Title 526

Housing Wire

JULY 29, 2021

They further state: “The collapse of the short-term funding structure of nonbanks and some depositories, such as Countrywide Financial , led to rapid losses in liquidity and lending activity. Many of these firms experienced bankruptcies and closures similar to that of New Century.”.

Mortgages 421

Mortgages Loans Bankruptcy Industrial 421

Propmodo

APRIL 30, 2024

As property distress spreads, other debt-workout scenarios like bankruptcies and foreclosures will still be in play. These capital infusions are a more cost-effective way to recapitalize assets rather than bringing new equity in through foreclosure or bankruptcy.

Commercial 65

Commercial Bankruptcy Investor Equity 65

Housing Wire

APRIL 27, 2021

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 same day that settlement was released, the Justice Department announced separate settlements over servicing errors with Mr. Cooper alongside U.S. Bank and PNC Bank.

Bankruptcy 384

Bankruptcy Banks Title Mortgages 384

Housing Wire

JULY 27, 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.

Marketing 368

Marketing Loans Investor Mortgages 368

Housing Wire

NOVEMBER 10, 2020

So when that happens, you don’t originate, you don’t lend at par for something at 88. Newer loan officers are scared of the business because they think it has to do with predatory lending,” said Yonce. So you stop.”. Everyone bowed out. And it doesn’t. It’s the total opposite from that. They don’t understand it.

Debt-to-income ratio 432

Debt-to-income ratio Loans Banks Mortgages 432

Marco Santarelli

APRIL 11, 2024

Lehman Brothers , a giant in the banking sector, filed for bankruptcy in September 2008 , an event often cited as the culmination of the subprime mortgage crisis and a catalyst for the ensuing global financial crisis. It highlighted the need for more stringent lending standards and better risk management practices in the financial industry.

Lending 52

Lending Bankruptcy Loans Mortgages 52

McKissock

AUGUST 7, 2022

When people could not make their mortgage payments, the housing bubble burst and thousands of homes were foreclosed, multiple big-name lenders declared bankruptcy, and the market required government bailouts. Other fields also faced bankruptcy due to credit issues. This crash didn’t just affect the real estate industry.

Pre-approval 91

Pre-approval Bankruptcy Banks Loans 91