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 367

Lending Bankruptcy Mortgages Principal 367

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.

Bankruptcy 479

Bankruptcy Mortgages Lending Loans 479

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.

Lending 312

Lending Bankruptcy Mortgages Title 312

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. . Through July 2021, AOMS [Angel Oak Mortgage Solutions] has originated $1.52 million,” the report states.

Lending 315

Lending Loans Bankruptcy Technology 315

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. Secondary Marketing.

Lending 374

Lending Bankruptcy Equity Loans 374

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 354

Mortgages Bankruptcy Lending Investor 354

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 284

Bankruptcy Banks Mortgages Loans 284

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 379

Mortgages Lending Bankruptcy Brokerage 379

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 510

Bankruptcy Lending Equity Mortgages 510

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 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. Law360 and National Mortgage News first reported on AmeriFirst’s motion seeking approval of loan sales. million to Centier Bank.

Loans 373

Loans Bankruptcy Sales Commercial 373

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 366

Investor Bankruptcy Finance Equity 366

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 393

Mortgages Bankruptcy Loans Investor 393

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 395

Bankruptcy Finance Mortgages Banks 395

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 325

Bankruptcy New Construction Development Lending 325

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 349

Bankruptcy Lending Loans Banks 349

Housing Wire

AUGUST 11, 2022

Likewise, Atlanta-based A ngel Oak Mortgage Inc. , a real estate investment trust focused on nonqualified mortgages, or non-QM, recently announced that it was struggling with red ink — recording a net loss of $52.1 Keith Lind, CEO of non-QM lender Acra Lending, put it this way: “These aren’t bad loans, just bad prices.”. “We

Mortgages 374

Mortgages Loans Residential Lending 374

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 310

Banks Bankruptcy Lending Finance 310

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.”. Similar results (2.57

Mortgages 413

Mortgages Loans Bankruptcy Industrial 413

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 263

Bankruptcy Equity Technology Lending 263

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. Of course we’re not. “…If

Lending 355

Lending Banks Bankruptcy Loans 355

Housing Wire

NOVEMBER 10, 2022

The firm will focus on the non-qualified residential mortgages in the wholesale and correspondent channels. billion in volume in the last 12 months through 156 active loan officers and 39 branches, according to mortgage data platform Modex. and purchase mortgages accounted for 53.6%. . The lender originated $2.32

Loans 298

Loans Bankruptcy Loan Officer Lending 298

Housing Wire

DECEMBER 29, 2022

The housing sector — especially real estate and mortgage — has seen significant layoffs , while the general economy will create more than 4 million jobs in 2022. Then we had the biggest mortgage rate shock in recent history and yet even with that, we will have over 5 million total home sales this year. Production falls. history.

Marketing 545

Marketing Bankruptcy Sales FHA loan 545

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.

Lending 375

Lending Loans Bankruptcy Mortgages 375

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. As you can see below, we haven’t had the mortgage credit boom like we saw during the housing bubble years.

Loans 543

Loans Banks Equity Closing costs 543

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. Now, business owners can also apply for a mortgage loan as an individual.

Commercial 335

Commercial Residential Bankruptcy Investor 335

Housing Wire

DECEMBER 10, 2021

In the world of mortgage-financing, there exists a product line defined by what it is not — non-qualified mortgage (non-QM), non-prime, non-agency or an alternative-documentation loan. 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.

Loans 467

Loans Lending Bankruptcy Mortgages 467

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 357

Marketing Bankruptcy Loans Principal 357

Housing Wire

SEPTEMBER 29, 2022

MAXEX , a major mortgage trading and aggregating platform, has unveiled a series of new programs designed to serve originators and loan buyers in the growing non-QM lending market. Non-QM/nonprime mortgages include loans that cannot command a government, or “agency,” stamp through Fannie Mae or Freddie Mac.

Marketing 328

Marketing Pre-approval Investor Bankruptcy 328

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 364

Technology Bankruptcy Lending 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 337

Marketing Lending Loans Bankruptcy 337

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 343

Loans Lending Investor Mortgages 343

Housing Wire

MAY 25, 2022

The most affordable manufactured homes are financed with private loans with higher interest rates, shorter terms and fewer consumer protections than mortgage loans. The GSEs, which back mortgages on traditional site-built homes, currently do not provide financing for chattel. That means the 17.5 A little bit jumbled.

Finance 352

Finance FHA loan Loans Bankruptcy 352

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 53

Bankruptcy Loans Lending Mortgages 53

Housing Wire

MARCH 31, 2022

” The notion that educated homeowners with positive cash flow — who aren’t showing any stress in making their low payments thanks to historically low mortgage rates — would sell at 50%, 60% to 70% off current values and go back to renting, doesn’t seem realistic. Home prices have grown 108.3%

Bankruptcy 518

Bankruptcy Lending Mortgages Title 518

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 381

Bankruptcy Days on market Sales Short sale 381

Realty Biz

APRIL 5, 2022

Here is my predicament, his lender will not renew the loan and James wants me to lend him the money for the balloon payment. Another serious problem is that he cannot get the loan renewed with his current lender because he has filed preliminary bankruptcy paperwork. Number 1 is the bankruptcy paperwork. And it gets worse.

Loans 81

Loans Bankruptcy Mortgages Lending 81