Housing Wire

JUNE 4, 2024

Hometown Lenders has filed for Chapter 11 bankruptcy protection in Alabama, blaming the Federal Reserve’s policy to curb inflation for its debacle. Most were conventional (67%) and purchase (75%) loans. The Modex data shows that it originated about $900 million in loans that year. billion in 2022, compared to $5.5

Bankruptcy 414

Bankruptcy Banks Principal Investor 414

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 370

Bankruptcy Mortgages Loans Lending 370

Housing Wire

JANUARY 17, 2024

The bankruptcy plan administrator for Reverse Mortgage Investment Trust (RMIT), the parent company of former industry lender Reverse Mortgage Funding (RMF), has filed a court petition to convert from Chapter 11 bankruptcy to Chapter 7 bankruptcy. TCB and Ginnie Mae dispute RMIT filed for Chapter 11 bankruptcy in November 2022.

Bankruptcy 431

Bankruptcy Finance Loans Mortgages 431

Housing Wire

NOVEMBER 26, 2024

From streamlining title verification to enabling collaborative loan processing and automating key title production tasks, these leaders are helping shape a faster, smarter, and more efficient housing market. Historically, these processes involved multiple manual steps and handoffs, resulting in delays and higher costs.

Title 369

Title Mortgages Title search Bankruptcy 369

Housing Wire

DECEMBER 19, 2024

After informing the prospect that he would be able to do the loan, the client decided to move forward with Rodriguez as his originator. This guy was in a Chapter 13 bankruptcy at the time, was behind on credit cards and on his mortgage, and was on the verge of losing his house. Reverse is all I’ve been doing since then.

Bankruptcy 384

Bankruptcy Mortgages Principal Loans 384

Housing Wire

JANUARY 24, 2025

This typically has to do with customers seeking to contact their lender or servicer to fix an issue with the management or servicing of a loan. About 13% of all complaints were related to applying for a loan or refinancing an existing one. And about 10% of the total share of complaints were related to issues with loan closings.

Mortgages 394

Mortgages Bankruptcy Short sale Loans 394

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. If approved, AmeriFirst’s retail and commercial loans worth more than $5 million will be sold to a non-QM lender Oaktree Funding Corp.,

Loans 410

Loans Bankruptcy Sales Commercial 410

Housing Wire

FEBRUARY 4, 2025

Dara Default offers decisioning, automated workflows, collections, loss mitigation, claims, foreclosure and bankruptcy and an attorney network. Dara Movement and Dara Data are not yet on the market but in a “road map” stage, Sagent confirmed. And Dara Core is nearing beta completion.

Mortgages 399

Mortgages Bankruptcy Staging As-is 399

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?

Loans 544

Loans Banks Equity Bankruptcy 544

Housing Wire

SEPTEMBER 25, 2023

Federal student loan payments resuming on Oct. 1 will negatively affect consumer loan asset quality, including credit card, auto and, to a lesser extent, residential mortgages. 1, repayments are due to restart on Department of Education (DOE) federal student loans (Direct Student Loans), which began accruing interest again on Sept.

Loans 421

Loans Mortgages Bankruptcy Residential 421

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. Angel Oak, through its affiliates, both originates and securitizes non-QM loans. We just see tremendous opportunity.”.

Loans 479

Loans Lending Bankruptcy Mortgages 479

Housing Wire

MARCH 3, 2025

The company says it has provided over $3 billion in mortgage loans since its founding. (It HousingWire tracked 37 mergers, acquisitions, exits and bankruptcies involving originators, servicers, tech platforms, and appraisal and valuation companies in 2024. Yukon-based First American Mortgage, Inc.

Mortgages 262

Mortgages Bankruptcy Title Banks 262

Housing Wire

NOVEMBER 14, 2024

Executive leaders there pointed to the performance of the company’s proprietary loan products and trends in the Home Equity Conversion Mortgage ( HECM ) space as favorable. With several top 10 reverse mortgage lenders now active in some form within the U.S. In the case of FOA — the current industry leader — the earnings results were robust.

Investor 369

Investor Mortgages Bankruptcy Equity 369

Housing Wire

JUNE 13, 2025

Kind Lending , a national wholesale mortgage lender and his second brainchild, is built on lean operations and a focus on efficiency — a contrast with his first company, Stearns Lending, which filed for Chapter 11 bankruptcy in 2019. These lenders recorded an average net production income of $882 per loan (20 basis points).

Mortgages 218

Mortgages Lending Purchase and sale agreement Bankruptcy 218

Housing Wire

APRIL 18, 2024

The loan repurchase trend that began to sting many mortgage originators in 2022 appears to finally be winding down, according to a recent report by Sterling Point Advisors and Augment Analytics. We’re seeing a downward trend in total [loans] repurchased [on a dollar basis], and that’s true for both Fannie and Freddie,” Ludden said. “I

Loans 421

Loans Due diligence Investor Technology 421

Housing Wire

MAY 15, 2025

MORE’s model offers a short-term bridge loan typically around three years in length that’s designed to give buyers time to refinance or secure permanent financing. Ive helped a lot of divorcees who have terrible credit and people that are a few months out of bankruptcy get into a home. They just had life happen.

Finance 370

Finance Lending Bankruptcy Residential 370

Housing Wire

NOVEMBER 9, 2021

What happened post-2010 is that exotic loan debt structures that don’t provide long-term fixed debt products left the system. 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 526

Bankruptcy Mortgages Lending Loans 526

Housing Wire

NOVEMBER 9, 2022

Garth Graham, senior partner and manager of merger and acquisition activities for the Stratmor Group , said many of the layoffs in the IMB industry so far have involved employees working in support positions, with loan officer jobs being the last to be jettisoned. Charting the loan officer exit.

Loan Officer 410

Loan Officer Loans Mortgages Industrial 410

Housing Wire

JANUARY 31, 2022

For more than 50 years, the Black Knight MSP loan servicing system has been helping power servicing operations from loan boarding, payment processing and escrow administration to investor reporting, compliance management, default processing and more. In fact, 42% of MSP clients service fewer than 50,000 loans.”.

Loans 365

Loans Bankruptcy Equity Investor 365

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 transaction includes an acquisition of Angel Oak Home Loans’ brick-and-mortar retail offices and associated salesforce.”. Of the total volume, conventional loans accounted for 85.7%

Loans 306

Loans Bankruptcy Loan Officer Lending 306

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 367

Bankruptcy Banks Mortgages Loans 367

Housing Wire

MARCH 19, 2025

Other positions shes held include director and vice president roles at Caliber Home Loans , as well as a three-year stint as loanDepots COO. Shortly after leaving, she sued loanDepot for allegedly closing loans without proper documentation in the lead-up to its initial public offering. The lawsuit was fully dismissed in February.

Lending 201

Lending Industrial Bankruptcy Mortgages 201

Housing Wire

APRIL 10, 2023

As a follow-up, HousingWire sat down with Peter Richter, co-founder and president at Flueid, to discuss why mortgage lenders should be asking for a quick, data-driven title check at loan application, rather than an instant title commitment, to understand and verify what’s going on with a property and consumer from the start.

Title 383

Title Loans Equity Title search 383

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.” This is a breaking news story. Check back for more updates.

Lending 538

Lending Bankruptcy Loans Mortgages 538

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. As we can see below, the bankruptcy levels were extremely high before the bankruptcy law was passed in 2005.

Bankruptcy 517

Bankruptcy Lending Equity Mortgages 517

Housing Wire

MAY 19, 2025

“ Making a mistake with a buyer might still sting, but unlike flipping homes when you dont know what youre doing, it wont force you into bankruptcy.

Closing 370

Closing Renovation Hard money loan Design 370

Housing Wire

JANUARY 24, 2024

Monica Williams, a former loan account manager in Live Well’s Richmond, Va. headquarters, initially filed the suit days after Live Well had halted funding for new loans and subsequently ceased operations entirely. The class action lawsuit was filed in the U.S. In a 92-minute court hearing held on Jan.

Bankruptcy 416

Bankruptcy Loans Closing Mortgages 416

Housing Wire

NOVEMBER 15, 2022

There will always be a population of borrowers who cannot qualify for a home loan under traditional guidelines. Originators who actively work within the non-QM space are closing additional loans every month. The solution: Bank Statement loans. . Angel Oak’s Bank Statement loan is ideal for the self-employed.

Bankruptcy 384

Bankruptcy Short sale Investor Title 384

Housing Wire

MAY 13, 2021

As you probably know by now, the Federal Housing and Finance Agency has limited GSEs to a 7% cap on loan purchases for second home and investment properties. This means that lenders who sell these types of loans to Fannie Mae and Freddie Mac will be subject to restrictions if their volume exceeds 7%. How does this impact originators?

Loans 291

Loans Bankruptcy Investor Short sale 291

Housing Wire

DECEMBER 7, 2020

Cooper , the nation’s largest nonbank servicer of mortgage loans, will refund customers nearly $90 million and pay a civil penalty of more than $6.5 Those modifications allowed the borrower to make trial payments, which would then require the servicer to permanently modify the loans. 2012 and Jan. 1, 2021.

Bankruptcy 536

Bankruptcy Loans Mortgages Finance 536

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 439

Bankruptcy Banks Development Loans 439

Housing Wire

NOVEMBER 2, 2023

Meanwhile, Michael Strauss , its only loan officer, now has an inactive status on his license, according to the Illinois Department of Financial and Professional Regulation (IDFPR). While the decision was under appeal, Strauss was brokering loans. 3, indicating a voluntary surrender. Recently, ex-employees moved to protect a $3.5

Loan Officer 441

Loan Officer Bankruptcy Loans Residential 441

Housing Wire

MARCH 26, 2021

The lawsuit, which combined two legal actions that were designated a class action, was filed on behalf of 5,377 loan officers and other mortgage staffers employed by the bank in California from 2013 and 2019. The deal will provide $62.8 million to the class members, with the remainder going to plaintiffs attorneys.

Bankruptcy 466

Bankruptcy Banks Loan Officer Loans 466

Housing Wire

JANUARY 11, 2024

Ginnie Mae: loans are our ‘absolute property’ In a filing to the court submitted on Wednesday, Ginnie Mae — using its official acronym “GNMA” in court filings — said that TCB cannot challenge the authority the company maintains over the reverse mortgage securities program. TCB’s interest, Ginnie Mae said, “derived entirely from RMF.”

Lending 431

Lending Bankruptcy Mortgages Banks 431

Housing Wire

SEPTEMBER 22, 2023

Read on to learn more about Duncan’s views on the housing market, loan performance and affordability challenges homebuyers face. The servicing side of the business is doing very well because those loans are simply not going to prepay for a long time. So, the servicing valuation on those loans is strong, because pre-payments are low.

FHA loan 450

FHA loan Bankruptcy Marketing Loans 450

Housing Wire

JANUARY 3, 2024

Reverse mortgage servicing company Celink is seeking the dismissal of a lawsuit alleging that it had added unlawful servicing fees to reverse mortgage loans alongside now-bankrupt lender Reverse Mortgage Funding (RMF). In response to the recent recommendation by a magistrate judge against the dismissal of Dancy-Wilkins v.

Bankruptcy 423

Bankruptcy Loans Mortgages As-is 423

Housing Wire

MARCH 7, 2023

appointed Michelle DeHart as the vice president of loan operations, escrow, the company announced on Tuesday. Cenlar FSB, the second-largest mortgage servicer and largest sub-servicer in the U.S.,

Loans 370

Loans Banks Mortgages Technology 370