Housing Wire

JUNE 28, 2023

California-based real estate investing platform Peer Street, Inc. and 14 affiliated debtors filed for protection under Chapter 11 of the U.S.

Bankruptcy 459

Bankruptcy Investor Loans Mortgages 459

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 459

Bankruptcy Finance Loans Mortgages 459

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.

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Bankruptcy Mortgages Loans Lending 370

Housing Wire

JUNE 30, 2022

FGMC) and its holding company, Maverick II Holdings LLC, filed for Chapter 11 bankruptcy protection Thursday, June 30, leaving one of the country’s major warehouse lenders as its largest unsecured creditor, according to court filings. The lender then filed for Chapter 11 bankruptcy on Thursday, June 30. First Guaranty Mortgage Corp.

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Bankruptcy Banks Finance Lending 370

Housing Wire

DECEMBER 19, 2024

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. He also had mobility challenges, so Rodriguez assisted with filing court documents in conjunction with the reverse mortgage origination process in order to address the bankruptcy.

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Bankruptcy Mortgages Principal Loans 397

Keeping Current Matters

OCTOBER 31, 2023

If you've been following the news recently, you might have seen articles about an increase in foreclosures and bankruptcies.

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Bankruptcy Marketing 309

Housing Wire

NOVEMBER 27, 2023

Veev , a promising modular homebuilding company that’s raised $600 million, could close after a plan for a capital raise failed, according to reporting out of Israel. There are talks about a “leading company” potentially acquiring California -based Veev, but the negotiations remain in the very early stages, according to Calcalist.

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Bankruptcy Inspection Investor Staging 482

Housing Wire

DECEMBER 8, 2020

In all, the Justice Department said the three lenders didn’t comply with federal bankruptcy procedures, which affected a total of 76,000 accounts beginning in 2011. The bank also waived approximately $43 million in fees across its mortgage servicing portfolio, including for borrowers in bankruptcy.

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Banks Bankruptcy Finance Mortgages 435

Housing Wire

DECEMBER 5, 2023

The now defunct First Guaranty Mortgage Corporation (FGMC) and former employees – who sued the mortgage lender in a class-action suit after an abrupt layoff – are seeking a Delaware bankruptcy judge to settle a Worker Adjustment Retraining Notification (WARN) Act lawsuit for $1.75

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Bankruptcy Mortgages 468

Housing Wire

NOVEMBER 9, 2021

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. This content is exclusively for HW+ members.

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Bankruptcy Mortgages Lending Loans 529

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 523

Housing Wire

SEPTEMBER 5, 2023

The announcement comes in the wake of bankruptcy of allegations of fraudulent activity against reinsurer Vesttoo Ltd , which filed for Chapter 11 bankruptcy protection in August. Porch Group announced that its insurance subsidiary Homeowners of America (HOA) has been placed under temporary supervision by Texas regulators.

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Bankruptcy Development Banks Industrial 435

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. AmeriFirst’s request for approval to sell its loans comes less than two months after it filed for Chapter 11 bankruptcy protection in late August.

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Loans Bankruptcy Sales Commercial 435

Housing Wire

JANUARY 24, 2024

Bankruptcy Court for the District of Delaware seeking 60 days of wages and benefits, alleging termination without cause and notice as required by law. The class action lawsuit was filed in the U.S. Live Well initially announced its intent to challenge the suit a month after its filing. In a 92-minute court hearing held on Jan.

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Bankruptcy Loans Closing Mortgages 447

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

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Bankruptcy Banks Mortgages Loans 369

Housing Wire

OCTOBER 24, 2024

Helping the homeowner file for bankruptcy is another tool in the pre-foreclosure peacemaker’s tool kit, but Sandoval uses that tool with caution. “I An Auction.com analysis of bankruptcy data from the American Bankruptcy Institute shows a steadily rising level of Chapter 13 filings, which reached a new post-pandemic high in June 2024.

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Bankruptcy Equity Hard money loan Finance 448

Housing Wire

DECEMBER 8, 2022

The hundred or so workers on the other Teams meeting were given marching orders: keep the company’s operations functioning during bankruptcy proceedings. The resulting sea of red ink forced the company to seek protection from the storm through a Chapter 11 bankruptcy reorganization filed in federal court in Delaware.

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Bankruptcy Mortgages As-is Marketing 397

Housing Wire

JANUARY 3, 2024

The lender’s counsel of record withdrew representation of RMF in early 2023 after its business arrangement ended with the lender following the company’s bankruptcy. In an order filed on Tuesday, Magistrate Judge Lee Dunst said that any attempts at discovery from RMF must comply with an order issued on Dec.

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Bankruptcy Loans Mortgages As-is 456

Inman

NOVEMBER 7, 2023

The company filed for Chapter 11 bankruptcy in New Jersey as part of a "comprehensive reorganization" of the office space leasing giant.

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Bankruptcy Commercial 179

Housing Wire

FEBRUARY 19, 2021

Seattle-based Redfin has agreed to pay $608 million in cash to acquire RentPath , though the deal still requires sign-off by the Federal Trade Commission and a bankruptcy court. Despite RentPath’s baggage, namely a $650 million bankruptcy restructuring , Redfin sees big traffic and lead-generation potential with the pending acquisition.

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Bankruptcy Brokerage Property Management Agents 509

Housing Wire

JANUARY 18, 2021

The sky was falling,” Perkins said, describing the environment of fear as companies were acquired, layoffs were rampant and bankruptcies were common. During her second acquisition in 2008, the story was much different. There was a lot more fear involved than excitement,” she said.

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Title Bankruptcy Sales As-is 466

Housing Wire

FEBRUARY 16, 2024

So your only leverage in negotiating the settlement is, ‘We’ll just file bankruptcy.’” And you don’t get to negotiate a whole lot because the plaintiff attorneys know for a fact that you can’t afford representation,” Hahn wrote. “So

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Bankruptcy Design As-is Industrial 544

Housing Wire

NOVEMBER 15, 2022

Loans up to $3 million 12 or 24 months personal or business bank statements allowed 1099 earning statements accepted Two years seasoning required for bankruptcy, foreclosure, short sale or deed-in-lieu. Credit Challenges: Borrowers who have recovered from a foreclosure or bankruptcy do not have wait seven years to get a mortgage.

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Bankruptcy Short sale Investor Title 397

Housing Wire

JANUARY 11, 2024

TCB’s contract with RMF and the bankruptcy court order also expressly stated that TCB’s right to a lien was subject to GNMA’s extinguishment rights.” 31, 2022, special requirements for HECM reverse mortgage loan pools, TCB’s tail agreement and documents from RMF’s bankruptcy case unfolding in the U.S.

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Lending Bankruptcy Mortgages Principal 459

Housing Wire

JANUARY 5, 2021

Blackstone took full control of Stearns in fall 2019 after it exited bankruptcy due to significant debt problems. The strategy dovetails nicely with that of Guaranteed Rate, which has joint ventures with brokerage conglomerate Realogy and Chicago-based @properties.

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Lending Bankruptcy Loans Mortgages 538

Housing Wire

JANUARY 22, 2024

2023 , MV Realty filed for Chapter 11 bankruptcy in the 33 states it operates in. The firm announced it was pausing its right to list agreement program in late February 2023, after it had been sued by attorneys general in several states beginning with Florida , Massachusetts and Pennsylvania in late 2022.

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Bankruptcy Brokerage Lending Agents 482

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.

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Bankruptcy Banks Development Loans 468

Housing Wire

JUNE 7, 2024

According to a Worker Adjustment and Retraining Notification Act (WARN) notice sent to the state authority, jobs cut include professionals in activities related to bankruptcy, customer care, default, foreclosure and valuations, among others. A spokesperson for Newrez declined to comment. Newrez, a top-five U.S.

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Bankruptcy Loan Officer Principal Loans 464

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.

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Bankruptcy Loan Officer Mortgages Finance 447

Housing Wire

JULY 30, 2024

There were 484 specific complaints related to consumers trying to communicate with a company “to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure,” according to the database. There were 300 complaints in this segment that were specifically related to a foreclosure.

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Mortgages Bankruptcy Short sale Equity 459

Housing Wire

JUNE 14, 2024

New filings The filing, posted to the court docket on Friday morning, shows the immediate bankruptcy concern of leaders at RMF and the lack of willingness from other reverse mortgage industry participants to assume control of the full loan portfolio.

Bankruptcy 448

Bankruptcy Banks Loans Lending 448

Housing Wire

NOVEMBER 6, 2020

” The letter outlines the categories of affected customers: “In early March, Wells Fargo began providing forbearances to customers in active bankruptcy proceedings if we identified a court filing indicating that the customer may have been suffering a COVID-19-related hardship.”

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Bankruptcy Banks Equity Loans 358

Housing Wire

DECEMBER 27, 2023

There were also a few cases of bankruptcy. HousingWire tracked 62 mergers, acquisitions, exits and bankruptcies covered by the newsroom in 2023. bankruptcies. Those who couldn’t find a dance partner shut down production channels or left the mortgage market behind entirely. exits and 3.2%

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Mortgages Bankruptcy Lending Loan Officer 448

Housing Wire

APRIL 10, 2024

The company also said it “continues to evaluate new products to reach additional segments of the population facing a retirement gap,” and describes recent reverse mortgage industry consolidation following influential industry changes in 2017 and the 2022 bankruptcy of Reverse Mortgage Funding (RMF). “As

Investor 448

Investor Bankruptcy Finance Equity 448

Housing Wire

MARCH 26, 2021

Wells Fargo also paid $13 million to settle a class-action lawsuit that accused the bank of “improperly” modifying the mortgages of borrowers who had declared bankruptcy. In 2017, Wells Fargo agreed to pay customers who were overcharged mortgage fees $50 million, one of the many cases it settled related to pre-financial crisis policies.

Bankruptcy 488

Bankruptcy Banks Loan Officer Loans 488

Housing Wire

DECEMBER 29, 2022

In 2008, the rise of foreclosures and bankruptcy were waving red flags before the job-loss recession even happened. Today, it’s the complete opposite story: the 2005 bankruptcy reform laws and the 2010 Qualified Mortgage laws laid the foundation for the best housing credit profiles recorded in U.S.

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Marketing Bankruptcy Sales FHA loan 546

Real Estate News

SEPTEMBER 22, 2023

The brokerage, which offered homeowners cash in exchange for a 40-year right-to-list agreement, has been bogged down by lawsuits and investigations.

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Bankruptcy Brokerage 232