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 417

Loans Due diligence Investor Technology 417

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 417

Loans Mortgages Bankruptcy Residential 417

Realty Biz

MARCH 21, 2024

If you’re struggling financially and unable to pay your bills, you may have considered filing for bankruptcy. Filing for bankruptcy gives you a fresh start, but it stays on your credit report for up to 10 years — resulting in consequences for years to come. Understand the pros and cons before applying for this type of loan.

Bankruptcy 106

Bankruptcy Equity Loans Principal 106

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 369

Bankruptcy Banks Mortgages Loans 369

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 Closing costs 544

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 304

Loans Bankruptcy Loan Officer Lending 304

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 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 407

Loan Officer Loans Mortgages Industrial 407

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 123

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.

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Title Loans Equity Title search 383

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 427

Lending Bankruptcy Mortgages Principal 427

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 425

Bankruptcy Loans Mortgages As-is 425

Housing Wire

MARCH 6, 2024

Sagent’s solutions include Loanserv, a servicing system of record powering collections, accounting, escrows, investor management and customer care; Tempo, a default management system of record powering loss mitigation, foreclosure and bankruptcy; and Account Connect, a customer care and retention system.

Bankruptcy 416

Bankruptcy Loan Officer Mortgages Investor 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 383

Bankruptcy Short sale Investor Title 383

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 437

Loan Officer Bankruptcy Loans Residential 437

Housing Wire

DECEMBER 27, 2023

The company hopes to reach its goal by growing organically with more loan officers under a dozen business development managers. There were also a few cases of bankruptcy. HousingWire tracked 62 mergers, acquisitions, exits and bankruptcies covered by the newsroom in 2023. bankruptcies. exits and 3.2%

Mortgages 417

Mortgages Bankruptcy Lending Loan Officer 417

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.

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FHA loan Bankruptcy Marketing Loans 446

Housing Wire

APRIL 1, 2024

For a homeowner in need of extra cash, somewhere between $300 to $5,000, a company will give them the cash they need without a loan. The practice of right-to-list agreements preys upon homeowners by offering small lump sums of cash in exchange for decades-long contracts for the exclusive rights to sell the property.

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Title Bankruptcy Land Finance 417

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

Housing Wire

JANUARY 16, 2024

Ginnie Mae intends to develop a new reverse mortgage-backed security product enabling the acquisition of loans from an HMBS pool above the existing 98% maximum claim amount (MCA) requirement, according to a new announcement.

Mortgages 427

Mortgages Bankruptcy Loans Equity 427

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 525

Bankruptcy Mortgages Lending Loans 525

Housing Wire

NOVEMBER 28, 2023

But when every loan matters, like the market we find ourselves in today, it makes a lot of sense to take a closer look at the borrower’s credit score. It’s why regulators are spending so much time considering changes and why more originators are stepping up to help their loan applicants increase their scores. Why is this important now?

Bankruptcy 406

Bankruptcy Loans Mortgages As-is 406

Housing Wire

FEBRUARY 8, 2024

Bankruptcies and foreclosures After 2010, the qualified mortgage laws came into play and all the exotic loan debt structures in the system, especially in the run-up in demand from 2002 to 2005, disappeared. Homeowners, on the other hand, are sitting pretty and are the envy of the world.

Bankruptcy 481

Bankruptcy Equity Loans Mortgages 481

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.

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Bankruptcy Lending Equity Mortgages 515

Housing Wire

AUGUST 22, 2022

where she was COO before the company declared Chapter 7 bankruptcy and folded. Arc offers a range of mortgage products, but specializes in non-QM loans. Mortgage operations veteran Suzy Lindblom was named chief operating officer at lender and servicer Arc Home this week.

Bankruptcy 370

Bankruptcy Lending Loans Banks 370

Housing Wire

FEBRUARY 22, 2024

Processes and risks In December 2022, Ginnie Mae seized RMF’s HMBS portfolio due to the company’s bankruptcy, and the resulting stresses contributed to the decision to investigate, Oliver Davis explained at the time.

Bankruptcy 417

Bankruptcy Loans Mortgages Equity 417

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. How Can a Bankruptcy Affect Your Credit? Declaring bankruptcy can help you get out from under the crushing weight of debt you can’t pay, but it can also damage your credit score. appeared first on RISMedia.

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Bankruptcy Loans Lending Mortgages 69

Housing Wire

FEBRUARY 23, 2024

To the extent that you can get loans off your balance sheet faster, it lowers your financing costs. In 2023 alone, the mortgage industry saw a total of 62 merger and acquisition transactions, lender exits and bankruptcies. of the purchase loan amount when using a real estate agent from Rocket Homes to find a property.

Equity 417

Equity Bankruptcy Loans Mortgages 417

Housing Wire

OCTOBER 31, 2023

1 reason a mortgage loan applicant is denied for a loan is a problem with their credit score. But when every loan matters, like the market we find themselves in today, it makes a lot of sense to take a closer look at the borrower’s credit score. But that’s only true if the problem is approached correctly.

Bankruptcy 406

Bankruptcy Loans Mortgages As-is 406

Realty Biz

JULY 12, 2021

I’m thinking that bankruptcy might be my only option. What’s important for me to know about filing bankruptcy as a homeowner? How bankruptcies work out is highly dependent on personal circumstances. You definitely want to talk to a bankruptcy attorney before making any final decisions or taking action. Code 6-10-2.).

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Bankruptcy Equity Mortgages As-is 95

Housing Wire

SEPTEMBER 1, 2022

The message did not provide further details, such as the reasons for shutting down and the future of the loans portfolio. . The last paycheck was paid on Wednesday, but commissions on closing loans will happen through the end of September. “We We had employees that had been with us for 33 years. “We

Mortgages 383

Mortgages Bankruptcy Loan Officer Loans 383

The Mortgage Report

JANUARY 6, 2021

Buying a house after Chapter 7 bankruptcy is possible, but most buyers have to wait at least 2 years after the bankruptcy is discharged to get a home loan.

Bankruptcy 122

Bankruptcy Loans 122

Housing Wire

AUGUST 9, 2022

A closer look at WMC’s books, however, shows that as of June 30 its residential whole loan portfolio, nearly all of which is comprised of non-QM loans, was underwater by some $44 million. That’s based on a comparison of the principal balance of the loans on the books and their fair market value as reported by the REIT as of that date.

Marketing 395

Marketing Bankruptcy Loans Principal 395

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. But Ginnie Mae has never sought to contract with TCB itself regarding TCB’s transactions with RMF.”

Banks 415

Banks Bankruptcy Lending Finance 415

Housing Wire

NOVEMBER 8, 2023

The answer is no, and for that, we must thank the 2010 qualified mortgage (QM) rule, which has high standards for borrower credit scores and the ability to repay the loan. Foreclosures and bankruptcy data One of the most prominent credit stress data lines I have ever seen came during 2005-2008. How did this happen?

Fixed-rate mortgage 418

Fixed-rate mortgage Bankruptcy Loans Mortgages 418

Housing Wire

JULY 11, 2023

The Westchester County District Attorney announced on Friday that it has indicted a group of six individuals and a corporation for allegedly stealing property deeds from distressed homeowners, fraudulently accessing mortgage loans, and evading state taxes. They ultimately defaulted on the mortgages, the district attorney claimed.

Bankruptcy 284

Bankruptcy Short sale Loans Title 284

Housing Wire

SEPTEMBER 1, 2023

We also had some one-time variables as one trucking company filing for bankruptcy , and the actors’ strike, which hit the data this month. Let’s not forget that the student loan debt payments are about to go online, which means less disposable income in the economy. from 5.2% High school graduate and no college: 3.8%

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Bankruptcy Loans Construction Marketing 469