Housing Wire

JULY 11, 2024

A magistrate judge overseeing requests in a case against Ginnie Mae brought by Texas Capital Bank (TCB) has granted each side’s respective requests for an extension — one for a partial summary judgment for TCB, and the other for a change in venue by attorneys for the U.S. at the time of its 2022 bankruptcy. government.

Banks 433

Banks Bankruptcy Mortgages Lending 433

Housing Wire

JANUARY 11, 2024

District Court for the Northern District of Texas , Ginnie Mae has filed its response to a lawsuit brought against it by Texas Capital Bank (TCB) saying the warehouse lender lacks standing and discounts the authority the government has to extinguish a lender from its reverse mortgage-backed securities program.

Lending 459

Lending Bankruptcy Mortgages Principal 459

Housing Wire

DECEMBER 14, 2021

“Automated underwriting for agency [ Fannie Mae and Freddie Mac ] products is definitely much easier because there’s a defined set of scenarios that you have to meet,” says Keith Lind, executive chairman and president of Acra Lending (a non-QM lender formerly known as Citadel Servicing ).

Lending 397

Lending Loans Bankruptcy Technology 397

Housing Wire

NOVEMBER 9, 2021

Post-2010, lending standards in America became normal again, and while I still believe they’re very liberal, they’re sane. 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 529

Bankruptcy Mortgages Lending Loans 529

Housing Wire

AUGUST 15, 2024

Department of Housing and Urban Development (HUD), last week filed a slew of new documents in their court case against Texas Capital Bank (TCB). These were primarily in response to the bank’s prior motion for a partial summary judgment and offer reasons why the motion should be denied. Attorneys for the U.S.

Bankruptcy 468

Bankruptcy Banks Development Loans 468

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. Both these laws paved the way for more responsible lending and a more responsible consumer. Today, we are at 1.25

Bankruptcy 523

Bankruptcy Lending Equity Mortgages 523

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. The funds will be to be used to pay Centier Bank and Sound Capital — which AmeriFirst used to fund the mortgages it originated.

Loans 435

Loans Bankruptcy Sales Commercial 435

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

JUNE 14, 2024

Attorneys for the federal government have issued an extensive new filing in the ongoing litigation between Texas Capital Bank (TCB) and Ginnie Mae , including a raft of correspondence that took place immediately prior to the seizure of the Reverse Mortgage Funding servicing portfolio by Ginnie Mae.

Bankruptcy 448

Bankruptcy Banks Loans Lending 448

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. People’s first reaction was to wonder if this was 2008 all over again. Remember, the system is designed to keep home prices inflated.

Loans 544

Loans Banks Equity Bankruptcy 544

Housing Wire

JULY 22, 2022

FGMC) filed for Chapter 11 bankruptcy protection at the end of June — leaving four warehouse lenders on the hook for more than $415 million. Just weeks later, a leaked text message from Flagstar Bank provided an inside look at how dire the current climate is for many non-QM lenders. Non-QM lender First Guaranty Mortgage Corp.

Lending 397

Lending Banks Bankruptcy Loans 397

Housing Wire

AUGUST 22, 2022

where she was COO before the company declared Chapter 7 bankruptcy and folded. She was previously the COO at Glenn Stearns’ Kind Lending and Planet Home Lending. Lindblom joins the non-QM-focused lender following a stint at First Guaranty Mortgage Corp.

Bankruptcy 370

Bankruptcy Lending Loans Banks 370

Housing Wire

FEBRUARY 17, 2023

The partnership was made public by Figure on Thursday and comes a day after an announcement from Celsius — which filed for bankruptcy in July 2022 — that it will be acquired by NovaWulf. Cagney’s attempt to bring blockchain technology to mortgage lending at scale dates back to August 2021. Figure Acquisition Corp.,

Bankruptcy 367

Bankruptcy Equity Technology Lending 367

Housing Wire

MAY 13, 2024

Reducing competition and credit availability while increasing borrowing costs is antithetical to regulators’ goals of a diverse and robust market for mortgage lending and servicing,” Broeksmit said in a prepared statement.

Bankruptcy 476

Bankruptcy Finance Mortgages Banks 476

Housing Wire

AUGUST 11, 2022

Keith Lind, CEO of non-QM lender Acra Lending, put it this way: “These aren’t bad loans, just bad prices.”. “We AOMR has bulked up its warehouse lending arsenal to help bolster liquidity to better cope with the volatility of the current market. billion of unused warehouse capacity to support go-forward mortgage banking production.”.

Mortgages 397

Mortgages Residential Loans Lending 397

Housing Wire

JANUARY 19, 2023

The lawsuits quickly came pouring in, but Strauss never did seek bankruptcy protection for Sprout or its affiliates. The Smart Rate website mentions that the mortgage lender offers purchase and refinancings, jumbo, FHA, adjustable, bank statement and investors loans. Yet Strauss, who already has a $2.45

Mortgages 418

Mortgages Bankruptcy Loans Investor 418

Housing Wire

DECEMBER 10, 2021

As a result, they must rely on alternative documentation, including bank statements, assets or, in the case of rental properties, debt-service coverage ratios. “If Non-QM mortgages also go to a slice of borrowers facing credit challenges — such as a recent bankruptcy or slightly out-of-bounds credit scores.

Loans 497

Loans Lending Bankruptcy Mortgages 497

Housing Wire

NOVEMBER 10, 2020

So when that happens, you don’t originate, you don’t lend at par for something at 88. For eight years they were not able to get a mortgage loan – they could have an 800 credit score, $2 million in the bank. We have the bank statement program, jumbo loans. So you stop.”. Everyone bowed out. That’s when we get ‘em.

Debt-to-income ratio 459

Debt-to-income ratio Loans Banks Loan Officer 459

Housing Wire

SEPTEMBER 29, 2022

MAXEX , a major mortgage trading and aggregating platform, has unveiled a series of new programs designed to serve originators and loan buyers in the growing non-QM lending market. These new programs will expand our reach with bank-statement and other alternative-documentation loans, interest-only, etc.,

Marketing 397

Marketing Pre-approval Bankruptcy Loans 397

Housing Wire

DECEMBER 13, 2024

This would aim to address liquidity challenges that plagued the reverse mortgage business stemming from the late 2022 bankruptcy of a major lender , the run-up in interest rates and a precipitous drop in loan volume. is designed to enable the acquisition of loans from an HMBS pool above the existing 98% maximum claim amount (MCA) requirement.

Bankruptcy 370

Bankruptcy Loans Investor Banks 370

Housing Wire

AUGUST 9, 2022

Keith Lind, CEO of non-QM lender Acra Lending , said rates for non-QM loans through his company were “in the high 7% [range]” for July” up from 4.5% filed for Chapter 11 bankruptcy protection at the end of June — leaving four warehouse lenders on the hook for more than $415 million. for the February offering and 5.5%

Marketing 418

Marketing Bankruptcy Loans Principal 418

Housing Wire

APRIL 27, 2021

The mortgage servicer reiterated that this was not the result of a hacking and no borrower bank accounts or accounts within Mr. Cooper’s system were compromised. Bank and PNC Bank. Cooper said in the alert.

Bankruptcy 397

Bankruptcy Banks Title Mortgages 397

Housing Wire

AUGUST 30, 2022

I understand why anti-Central Bank people say this because they want to blame everything on the Federal Reserve and say it’s just been booming demand. Nor can we ever have a credit sales boom again with lending standards back to normal. However, we haven’t had a credit sales boom like the one we saw from 2002-2005.

Bankruptcy 397

Bankruptcy Days on market Sales Short sale 397

Housing Wire

MARCH 28, 2022

As the end of the first quarter of 2022 approaches, the expected blossoming of the non-QM lending space in the private label market is well underway. . Consequently, the hunt is on for opportunities in the purchase market, and that’s why non-QM lending is expected to become a sweet spot in the mortgage market, according to industry observers.

Loans 370

Loans Lending Investor Mortgages 370

Housing Wire

JULY 29, 2021

They further state: “The collapse of the short-term funding structure of nonbanks and some depositories, such as Countrywide Financial , led to rapid losses in liquidity and lending activity. Many of these firms experienced bankruptcies and closures similar to that of New Century.”. Similar results (2.57

Mortgages 448

Mortgages Loans Bankruptcy Industrial 448

Housing Wire

NOVEMBER 9, 2022

The steady drumbeat of dour news in the mortgage industry punctuated by headlines announcing layoffs and closures among the ranks of independent mortgage banks continues to play out, with several lenders over the last two weeks adding to the torrent of pink slips. filed for Chapter 11 bankruptcy. [In

Loan Officer 435

Loan Officer Loans Mortgages Industrial 435

Housing Wire

JULY 27, 2022

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. Filson pointed out in AOMR’s Q1 earnings call that the lender as of March 31 had $90.4 billion.

Marketing 397

Marketing Loans Investor Mortgages 397

Housing Wire

JUNE 28, 2021

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. They’re really just middlemen and nothing else.

Bankruptcy 435

Bankruptcy Loans Industrial Mortgages 435

Rent, Buy & Sell

FEBRUARY 7, 2021

Bad credit is usually the result of late bill payments, bankruptcy, foreclosure and loan defaults. As such, if your credit score is below 500 you should probably work on rebuilding your credit score first, because even with alternative lending options this score may be too low to finance a home.

Loans 98

Loans VA loan FHA loan Hard money loan 98

Realty Biz

APRIL 5, 2022

I own my home and have a comfortable retirement bank balance of more than $750,000. Here is my predicament, his lender will not renew the loan and James wants me to lend him the money for the balloon payment. Number 1 is the bankruptcy paperwork. Personally, I would talk with a bankruptcy attorney that is not representing James.

Loans 82

Loans Bankruptcy Mortgages Lending 82

McKissock

AUGUST 7, 2022

It didn’t help that the Federal Reserve was not strictly regulating the bank’s loan screening and approval process. Therefore, the banks approved mortgages to customers without regard for their ability to repay the loan. Other fields also faced bankruptcy due to credit issues.

Pre-approval 91

Pre-approval Bankruptcy Banks Loans 91

HomeLight

JULY 30, 2021

When you apply for a mortgage , you’re essentially asking a bank to hand you hundreds of thousands of dollars with the promise to pay it back over the next 15 to 30 years. The bank will ask for a list of mortgage documents to prove you’ll be able to repay the loan. Bankruptcy discharge papers. Can you blame them?). Other income.

Loans 98

Loans Mortgages Bankruptcy Purchase and sale agreement 98

Marco Santarelli

SEPTEMBER 6, 2020

Lending money through the crowdfunding site eliminates the need to have a detailed contract with the borrower or having an equity stake in the property itself. You can choose which lending platform you go through, too. If they are sued or go into bankruptcy, you’re joined at the hip as their business partner. Buying Bonds.

Lending 135

Lending Loans Investor Branding 135

HomeLight

OCTOBER 27, 2020

If you want to buy a house, the lender or bank will need to know how much money you make and how much debt you have. Bank statements. The lender could also request additional documents if you have special circumstances, such as a past foreclosure or bankruptcy. Source of the down payment funds.

Pre-approval 105

Pre-approval Loans Due diligence Bankruptcy 105

Realtor.com

OCTOBER 30, 2020

Detroit is making a comeback after years of decline that led to a bankruptcy filing in 2013. By the time General Motors and Chrysler filed for bankruptcy reorganization during the financial crisis, many of Detroit’s blue-collar jobs were long gone. On the east side of the street, getting a mortgage to buy a home is a breeze.

Marketing 86

Marketing Bankruptcy Finance Banks 86

Boom Town

AUGUST 28, 2019

Due to overborrowing and flawed lending, the US economy entered a period of intense turmoil and the housing market crashed. Higher lending standards from banks. “Flip” market is under control with tougher lending standards. If you were in real estate at the time, you remember. You still with me?

Marketing 75

Marketing Lending Bankruptcy Banks 75

McKissock

AUGUST 30, 2022

Of course, for most residential mortgage lending assignments, appraisers are not permitted to accept payment from the borrower at the time of inspection. But for non-lending assignments , such as divorces, estates, and bankruptcies, you are still permitted to collect your fee at the time of the inspection.

Lending 81

Lending Bankruptcy Inspection Mortgages 81