Remove Banks Remove Due diligence Remove Equity Remove Investor
article thumbnail

Figure Acquisition Corp. I plans merger with mortgage bank

Housing Wire

I , a blank check company affiliated with fintech Figure Technologies , plans to merge with a warehouse lender and bank holding company to potentially bring blockchain technology to the financial institution. Figure Acquisition Corp. United Wholesale Mortgage went public in January 2021 after merging with Gores Holdings IV.

Banks 366
article thumbnail

The crypto-mortgage is the new kid on the block

Housing Wire

Essentially, through the so-called Bacon Protocol — a set of smart contracts and programming that exists on the Ethereum blockchain platform — investors can purchase stable coins, which are a form of “stable” cryptocurrency pegged to the value of the U.S. They are Vesta Equity , Oasis Pro Markets and Liquid Mortgage.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

GSE repurchase risk is rippling through the MSR market

Housing Wire

A fly in the ointment, however, particularly for some independent mortgage banks (IMBs), is the elevated risk of agency loan-repurchase demands — triggered by loans that violate Fannie Mae ’s or Freddie Mac ’s rep and warranty policies due to some defect discovered during the agencies’ post-origination quality-review processes. “On

article thumbnail

Blockchain today vs. yesterday – What’s different?

Housing Wire

In 2008 when blockchain and its celebrity use case of BitCoin came into view, with breathless excitement discussions of complete decentralization of purchases and bank-less futures coursed freely through public discourse. Simple realities like investor doc delivery can be avoided by virtue of upstream use of blockchain on DLTs.

article thumbnail

Top Tips and Considerations For Buying Land

Realty Biz

However, the process involves intricate steps, from understanding zoning laws to securing financing and conducting due diligence. Careful due diligence is necessary to ensure you don't make any significant mistakes. Conducting thorough due diligence is the cornerstone of a successful land purchase.

Land 126
article thumbnail

13 Steps to Buying a Bank-Owned Foreclosure

HomeLight

If that’s you, you may have heard that one path to a deal is buying a bank-owned foreclosure. There are pros and cons to consider when going this route, however, such as the fact that bank-owned properties often need more TLC than other homes on the market, and many are sold as-is. What’s a bank-owned foreclosure?

Banks 78
article thumbnail

Meet the likely buyers of independent mortgage banks in 2023

Housing Wire

But Brian Hale, who is assisting several buyers in their hunt for independent mortgage bank acquisition targets, sees an even more brutal landscape ahead. Still, consolidation is clearly underway in the mortgage banking industry already. By the time 2022 is wrapped up, mortgage lenders will have originated about $2.2 trillion to $1.7

Banks 403