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Bankrupt AmeriFirst Financial wants court to green light private sale of loans  

Housing Wire

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 434
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Magistrate judge recommends $46M in restitution from former Live Well CEO

Housing Wire

The funds will ultimately go to companies including Mirae Asset Securities , Industrial and Commercial Bank of China Financial Services (ICBC), Flagstar Bank , Customers Bank and the bankruptcy estate of Live Well itself, according to court filings reviewed by RMD. million; Customers Bank receive $7.64

Banks 429
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There’s more blood on the tracks in the non-QM market

Housing Wire

billion in assets, has a diverse portfolio of residential and commercial real estate assets. The pool of non-QM borrowers includes real estate investors, property flippers, foreign nationals, business owners, gig workers and the self-employed, as well as a smaller group of homebuyers facing credit challenges, such as past bankruptcies.

Marketing 417
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Redwood Trust, Angel Oak Mortgage awash in red ink in Q2

Housing Wire

The magnitude of rapidly rising rates impacted our residential mortgage banking business, while demand for shorter-term financing from our business-purpose lending borrowers [including bridge loans and single-family rental property loans] proved more resilient.”. or less],” which will “impact executions for those seeking to securitize.”.

Mortgages 397
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The appraisal industry’s hidden hand

Housing Wire

In the fall of 2019, Brian Coester, filed for Chapter 7 bankruptcy in Maryland federal court, after CoesterVMS went under. Rickard, who said that she is still owed $3,800 for her work, is one of multiple appraisers listed as creditors in the Coester bankruptcy. Rickard never got paid.

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DoorLoop Review: Is It Right for Managing Your Rental Property?

The Close

It offers online banking and accounting, leasing and property management, tenant management, and app integrations. Your tenants have a convenient app to communicate with you, pay rent and fees, connect their bank accounts, and submit maintenance requests. Manage from your computer or on the go with its convenient mobile app.

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Go-To Experts: Kris Lindahl Talks About the COVID-19 Wolf At the Door

Realty Biz

Property owners impacted by the COVID-19 housing crisis are struggling to pay mortgages, and the imminent risk of foreclosure and bankruptcy looms large over the industry. Kris Lindahl: Banks are more proactive than ever when it comes to offering solutions for people struggling to make their mortgage payments.