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Portrait of a pre-foreclosure peacemaker

Housing Wire

Sandoval said her approach is one that is difficult for banks and mortgage servicers to replicate, not only because of the face-to-face experience she offers but also because of the inherent – and often misguided– distrust that many distressed homeowners have for financial institutions. “There is nothing like that face to face.

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Nonbank Hometown Lenders files for bankruptcy

Housing Wire

Hometown Lenders has filed for Chapter 11 bankruptcy protection in Alabama, blaming the Federal Reserve’s policy to curb inflation for its debacle. Warehouse lender Flagstar Bank , which has a lawsuit filed against Hometown Lenders , has the largest unsecured claim, $20.1 million), investor Freddie Mac ($3.4

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Oklahoma’s Bank7 acquires mortgage lender First American Mortgage Inc.

Housing Wire

Bank7 is expanding its mortgage reach in Oklahoma. The community bank has completed its acquisition of First American Mortgage, Inc. , a small mortgage lender and brokerage based in the suburbs of Oklahoma City. Yukon-based First American Mortgage, Inc. Yukon-based First American Mortgage, Inc.

Mortgages 291
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FGMC owes Customers Bank $25M, bankruptcy filing shows

Housing Wire

First Guaranty Mortgage Corp. 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.

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Warehouse lenders stung by FGMC’s bankruptcy

Housing Wire

Recent pleadings filed in the bankruptcy case of First Guaranty Mortgage Corp. FGMC and its affiliate, Maverick II Holdings LLC , on June 30 filed to reorganize under Chapter 11 bankruptcy protection. Obligations to Customers Bank are further secured by a cash reserve account and related collateral,” Samples court pleadings add.

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RMF parent obtains Chapter 7 bankruptcy status

Housing Wire

The presiding judge in the bankruptcy case involving Reverse Mortgage Investment Trust (RMIT) — the parent company of former leading reverse mortgage lender Reverse Mortgage Funding (RMF) — has approved a request to transfer the company’s bankruptcy status to Chapter 7 from its current Chapter 11 status.

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Mr. Cooper, U.S. Bank and PNC Bank settle DOJ servicing case

Housing Wire

Bank and PNC Bank. 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. Bank is on the hook for $29 million in credits and refunds, according to the settlement. Meanwhile, U.S. In all, Mr. Cooper, U.S.

Banks 435