Housing Wire

JANUARY 5, 2021

In a statement confirming the deal Tuesday afternoon, Guaranteed Rate said the acquisition of Stearns would enable a boost in retail loan originations and further scale its JV platform, while also developing “new multichannel capabilities.” The post Guaranteed Rate to acquire Stearns Lending appeared first on HousingWire.

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Lending Bankruptcy Loans Mortgages 536

Housing Wire

NOVEMBER 9, 2021

One of the most unloved American economic success stories has been how spectacular American households with mortgage debt look today. Post-2010, lending standards in America became normal again, and while I still believe they’re very liberal, they’re sane. The most important factor is that debt structures are vanilla. Already a member?

Bankruptcy 509

Bankruptcy Mortgages Lending Loans 509

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. What 2021 holds for Rocket Pro TPO.

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Lending Bankruptcy Mortgages Title 346

Housing Wire

DECEMBER 14, 2021

The non-QM mortgage market, which encompasses most home loans not backed by a government-sponsored guarantee, is expected to reach the $25 billion mark this year in private-label securitization volume. . It’s going to happen at some point, or at least make it much easier.”. Automation just increases efficiencies,” Hutchens added.

Lending 351

Lending Loans Bankruptcy Technology 351

Housing Wire

SEPTEMBER 8, 2022

Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. Are we really doing those types of loans and promoting homeownership again without understanding the risks?

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Loans Banks Equity Closing costs 543

Housing Wire

NOVEMBER 10, 2022

Angel Oak Home Loans will exit its retail distribution channel following a sale of its retail offices to an unknown lender and servicer. The firm will focus on the non-qualified residential mortgages in the wholesale and correspondent channels. Of the total volume, conventional loans accounted for 85.7% The lender originated $2.32

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Loans Bankruptcy Loan Officer Lending 302

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. Business Lines, Services and Products.

Lending 397

Lending Bankruptcy Equity Loans 397

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 321

Bankruptcy Banks Mortgages Loans 321

Housing Wire

SEPTEMBER 29, 2022

Non-QM specialist Angel Oak Mortgage Solutions is the latest player in the space to cut a sizable chunk of its workforce amidst widespread market volatility. The company issued pink slips to 75 employees last week, about 20% of its workforce, citing the “current economic environment that has challenged the entire mortgage market.”

Mortgages 368

Mortgages Bankruptcy Lending Investor 368

Housing Wire

MAY 13, 2024

A recently published report by the Financial Stability Oversight Council (FSOC) identified vulnerabilities at nonbank mortgage servicers that pose risks to financial stability. The attention on nonbank mortgage companies have increased since their expansion following the financial crisis of the late 2000s.

Bankruptcy 426

Bankruptcy Finance Mortgages Banks 426

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. Charting the loan officer exit. million. .

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Loan Officer Loans Mortgages Industrial 404

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. The mystery as to what happened to its loan pipeline and funding endure.

Mortgages 393

Mortgages Bankruptcy Loans Investor 393

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 399

Mortgages Lending Bankruptcy Brokerage 399

Housing Wire

AUGUST 22, 2022

Mortgage operations veteran Suzy Lindblom was named chief operating officer at lender and servicer Arc Home this week. Lindblom joins the non-QM-focused lender following a stint at First Guaranty Mortgage Corp. where she was COO before the company declared Chapter 7 bankruptcy and folded.

Bankruptcy 366

Bankruptcy Lending Loans Banks 366

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.

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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 513

Bankruptcy Lending Equity Mortgages 513

Housing Wire

FEBRUARY 23, 2024

The case stems from Ginnie Mae’s extinguishment of Reverse Mortgage Funding (RMF) from its reverse mortgage-backed securities program. 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.

Banks 345

Banks Bankruptcy Lending Finance 345

Housing Wire

JULY 22, 2022

Non-QM lender First Guaranty Mortgage Corp. FGMC) filed for Chapter 11 bankruptcy protection at the end of June — leaving four warehouse lenders on the hook for more than $415 million. Sprout Mortgage imploded in early July, leaving its employees out in the cold. That’s probably a little more common than people think.”.

Lending 376

Lending Banks Bankruptcy Loans 376

Housing Wire

JULY 29, 2021

In a comprehensive study of mortgage market liquidity, Liquidity Crises in the Mortgage Market , several well-known academics provided compelling evidence for “liquidity vulnerabilities associated with nonbanks.” Many of these firms experienced bankruptcies and closures similar to that of New Century.”.

Mortgages 414

Mortgages Loans Bankruptcy Industrial 414

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 298

Bankruptcy Equity Technology Lending 298

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 principal balance of WMC’s residential whole loan portfolio at June 30 stood at $1.24 a week earlier.

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Marketing Bankruptcy Loans Principal 383

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. Presented by: Acra Lending. Atlanta-based non-QM lender Angel Oak Cos.

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Lending Loans Bankruptcy Mortgages 390

Housing Wire

NOVEMBER 21, 2022

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. First Guaranty Mortgage Corp. Stronghill, however, is no stranger to the non-agency and investor loan space. .

Commercial 360

Commercial Residential Bankruptcy Investor 360

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. . The figures are drawn from the prime and nonprime (or non-QM) residential mortgage-backed securities deals tracked by Kroll Bond Rating Agency (KBRA).

Loans 364

Loans Lending Investor Mortgages 364

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. 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. .

Marketing 361

Marketing Lending Loans Bankruptcy 361

Housing Wire

JULY 27, 2022

through its Angel Oak Mortgage Trust conduit, recently unveiled its latest private-label securitization (PLS) offering — a deal slated to close in early August backed by 788 predominately non-QM loans valued at $362 million. through its affiliated companies, including real estate investment trust, or REIT, Angel Oak Mortgage Inc. .

Marketing 375

Marketing Loans Investor Mortgages 375

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. During this same time, our industry helped consumers take advantage of low interest rates to refinance mortgages. Why is a title search necessary for refinancing?

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Title Title search Due diligence Land 506

RIS Media

FEBRUARY 4, 2021

Getting preapproved for a mortgage can help you figure out how much you can borrow so that you can focus on houses that you can afford. It can also demonstrate to a seller that you’re a serious buyer and that you will likely be able to get final mortgage approval. How Can a Bankruptcy Affect Your Credit?

Bankruptcy 56

Bankruptcy Loans Lending Mortgages 56

Housing Wire

JANUARY 4, 2022

Pontiac, Michigan-based United Wholesale Mortgage (UWM) capitalized on a booming private-label market in 2021 by sponsoring its inaugural securities transaction this past May, a prime jumbo deal involving 508 mortgages with an aggregate principal balance of $351.9 That’s a strong start for a new issuer. “A

Marketing 337

Marketing Debt-to-income ratio Loans Mortgages 337

Housing Wire

NOVEMBER 10, 2020

His corner of the Atlanta mortgage market – high-value home loans that wouldn’t be bought by the GSEs – was booming. At that point, Dodson was actively working on a jumbo loan for friends of his from church. So when that happens, you don’t originate, you don’t lend at par for something at 88. So you stop.”.

Debt-to-income ratio 424

Debt-to-income ratio Loans Banks Mortgages 424

Housing Wire

JUNE 9, 2022

That bolt-like spike in rates put many mortgage lenders into crisis mode. Lenders saw the value of agency loans made at lower rates — in the 3% range — in 2021 and early January 2022 drop precipitously over the course of the first quarter. And then in February 99 [the trading price] became 96, and that was still a hot trade.

Marketing 375

Marketing Loans Technology Bankruptcy 375

Rent, Buy & Sell

FEBRUARY 7, 2021

Great credit allows people to get the best interest rates on various types of loans. Bad credit is usually the result of late bill payments, bankruptcy, foreclosure and loan defaults. Most lenders set their own requirements, so even with a bad credit score, there are various lenders who will fund your mortgage.

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Loans VA loan FHA loan Hard money loan 98

HomeLight

JULY 30, 2021

When you apply for a mortgage , you’re essentially asking a bank to hand you hundreds of thousands of dollars with the promise to pay it back over the next 15 to 30 years. The bank will ask for a list of mortgage documents to prove you’ll be able to repay the loan. What are mortgage documents? Bankruptcy discharge papers.

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Loans Mortgages Bankruptcy Purchase and sale agreement 98

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 382

Bankruptcy Days on market Sales Short sale 382

Marco Santarelli

APRIL 11, 2024

The subprime mortgage crisis , a pivotal event in U.S. home prices following the collapse of a housing bubble , leading to mortgage delinquencies , foreclosures , and the devaluation of housing-related securities. When the real estate bubble burst , it led to a sharp increase in high-risk mortgage defaults.

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Lending Bankruptcy Loans Mortgages 52

Realty Biz

SEPTEMBER 30, 2023

Mortgages with Low Credit Scores Mortgages with low credit scores can appear challenging, but there are options available. Understanding how a low credit score affects your mortgage and exploring government-backed programs can help you navigate the process. Can you buy a house with bad credit?

Finance 97

Finance Debt-to-income ratio FHA loan Mortgages 97

McKissock

AUGUST 7, 2022

It didn’t help that the Federal Reserve was not strictly regulating the bank’s loan screening and approval process. It didn’t help that the Federal Reserve was not strictly regulating the bank’s loan screening and approval process. Therefore, the banks approved mortgages to customers without regard for their ability to repay the loan.

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Pre-approval Bankruptcy Banks Loans 91