Housing Wire

JUNE 21, 2022

As someone who spent a career in the title insurance industry – both as a builder of a title business and leader of the industry’s trade group, — I am proud of the role we play in helping to protect what most Americans consider the biggest purchase of their lives. Real estate is a $3 trillion industry in the United States.

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Title Title search Land Due diligence 518

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

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

JANUARY 26, 2024

There were a total of 361 consumer complaints submitted to the Consumer Financial Protection Bureau (CFPB) related to the reverse mortgage industry during the calendar year 2023, according to a consumer complaint database maintained by the Bureau. the parent company of Liberty Reverse Mortgage/PHH.

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Mortgages Bankruptcy Industrial Closing 468

Housing Wire

JANUARY 4, 2024

Amid an already challenging operating environment observed throughout 2023, both HECM endorsement volume and HECM-backed Securities (HMBS) issuance closed out the year on a low note, with both metrics falling lower from the month before, according to data from RMI and New View Advisors. Beyond that will depend on what happens to rates.”

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Mortgages Bankruptcy Principal Industrial 476

Housing Wire

DECEMBER 27, 2022

The elevated mortgage rate environment has created a mortgage rate lockdown effect of sorts, limiting the pool of customers for the mortgage industry. Layoffs, LOs leaving the industry for good. The mortgage industry shrinking by more than half to an estimated $1.7 Or will soon.

Marketing 529

Marketing Equity Loans Bankruptcy 529

Housing Wire

MAY 20, 2024

Others in the industry believe that’s the correct arena to deal with broader housing regulation. If I were the state regulators, I would look at this closely and see where we need to up our game … That’s a tall order to do at a state level,” Cave said. You normally don’t see that in the FSOC report.”

Bankruptcy 448

Bankruptcy Finance Mortgages Banks 448

Housing Wire

NOVEMBER 2, 2020

As a premier provider of innovative, high-performance software, data and analytics for mortgage and home equity lending and servicing, Black Knight is transforming the housing finance industry. Black Knight is a proven mortgage industry leader in servicing technology. Originations. Secondary Marketing.

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Lending Bankruptcy Equity Loans 435

Housing Wire

NOVEMBER 28, 2023

A glance at the headlines will tell you that more industry leaders are beginning to take the borrower’s credit seriously. This includes payment history, credit usage, credit account age, total number of accounts, hard inquiries and derogatory marks, such as late payments, collections, bankruptcies, civil judgments, foreclosures and liens.

Bankruptcy 435

Bankruptcy Loans Mortgages As-is 435

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%

Mortgages 448

Mortgages Bankruptcy Lending Loan Officer 448

Housing Wire

JANUARY 22, 2021

If CoStar were to close the deal, it would be the largest acquisition the Washington, D.C.-based After its filing of bankruptcy in February, Rentpath , which owns Rent.com, ApartmentGuide.com, Rentals.com and Lovely.com, agreed to sell to CoStar for a reported $558 million. As of Thursday, CoreLogic’s stock closed at $76.79

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Equity Bankruptcy Investor Commercial 397

Housing Wire

JULY 8, 2022

Plaintiffs Nathaniel Agudelo and Helen Owens – both closing disclosure specialists who worked for Sprout from the fourth quarter of 2020 through July 6, 2022 – filed the lawsuit on their behalf and others in the same situation in the Eastern District of New York U.S. Sprout is the second major non-QM lender to shut down operations recently.

Mortgages 459

Mortgages Bankruptcy Loans Finance 459

Housing Wire

JULY 29, 2021

In light of this important industry and policy topic, I thought it instructive to provide further insight into the arguments raised from that previous piece. Many of these firms experienced bankruptcies and closures similar to that of New Century.”. Clifford Rossi is Professor-of-the Practice and Executive-in-Residence at the Robert H.

Mortgages 448

Mortgages Loans Bankruptcy Industrial 448

Housing Wire

APRIL 10, 2023

Unfortunately, that “instant” title commitment itself does not inherently equate to a faster close, as my colleague Matt Regan outlined in his recent article. Just as important, it saves our title partners time and money when critical issues are discovered upfront resulting in loans that may never close.

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Title Loans Equity Title search 397

Housing Wire

APRIL 18, 2024

ACES Quality Management , a fintech that provides quality-control software for the financial services industry, issued a Mortgage QC Industry Trends report with data through Q3 2023. The overarching goal of prefunding QC is to ward off problems before they become issues on closed loans.

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Loans Due diligence Investor Technology 448

Housing Wire

FEBRUARY 23, 2024

per share at market close the day before. In 2023 alone, the mortgage industry saw a total of 62 merger and acquisition transactions, lender exits and bankruptcies. Rocket’s stock price rose to $11.75 per share at market open on Friday, up from $10.98

Equity 448

Equity Bankruptcy Loans Mortgages 448

Housing Wire

AUGUST 9, 2022

Combined, the closing loan-pool balance for the two securitization deals was $834.2 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.

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Marketing Bankruptcy Loans Principal 418

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. Some 80% of the volume in our industry is done by about 40% of the LOs.

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Loan Officer Loans Mortgages Industrial 435

Housing Wire

SEPTEMBER 18, 2023

Tom George : The way Constellation operates is that we focus on acquiring vertical market software companies and portfolios of vertical market software companies with the intent to stay in these industries forever. How does the company expect to manage profit amid industry consolidation , bankruptcies and attrition?

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Technology Mortgages Bankruptcy Industrial 501

Housing Wire

OCTOBER 31, 2023

Taking a harder look at consumer credit A glance at the headlines will tell you that more industry leaders are beginning to take the borrower’s credit seriously. But that’s only true if the problem is approached correctly. Some of these elements will be very difficult, if not impossible, to change in the short term.

Bankruptcy 435

Bankruptcy Loans Mortgages As-is 435

Housing Wire

OCTOBER 12, 2023

But if you go and look at the financials, there’s no differentiation in terms of cost per loan or speed to close with any correlation that I’ve been able to see on technology spend. You’re signing a contract in 2020-2021 when the industry is doing $3.5 That model just doesn’t work. SW: How do you fix that?

Mortgages 448

Mortgages Technology Loans Loan Officer 448

Housing Wire

DECEMBER 14, 2021

Over the next several years, however, assuming interest rates continue to tick upward absent great volatility, the non-QM (or non-qualified mortgage) market has the potential to grow tenfold, according to some industry executives. He said the housing industry went from slightly more than $2 trillion in origination volume in 2019 to $4.5

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Lending Loans Bankruptcy Technology 397

Housing Wire

JUNE 28, 2021

Ultimately, DeZarn concluded, “We don’t know where this industry is going.”. But they did not become key players in the home valuation industry until the recent housing bubble.”. The state fees, which in theory go to safeguarding and policing the appraisal industry, are a bane of AMCs (more on that in a sec).

Bankruptcy 435

Bankruptcy Loans Industrial Mortgages 435

Housing Wire

SEPTEMBER 29, 2022

Enabling bulk trading, which allows platform users to sell closed loan pools to one or more buyers in a single transaction. The growth of this fragmented market requires standardization to meet the long term needs of the consumer and the industry, [and] MAXEX is committed to providing that, just as we have for jumbo loans.”.

Marketing 397

Marketing Pre-approval Bankruptcy Loans 397

Housing Wire

JUNE 9, 2022

Thomas Yoon, president and CEO of non-QM lender Excelerate Capital , added that the housing industry in late 2021 and early 2022 was at the tail end of a historic refinancing boom. That caused industry layoffs and rightsizing, downsizing, whatever you want to call it.

Marketing 397

Marketing Loans Technology Bankruptcy 397

Housing Wire

DECEMBER 21, 2021

As 2021 draws to a close, it’s clear that the private-label residential mortgage-backed securities (RMBS) market has notched a year for the record books. For the full year, the RMBS 2.0 market — defined as all post-financial-crisis prime, non-prime and credit-risk transfer (CRT) transactions — is projected to exceed $115 billion in issuance.

Marketing 435

Marketing Loans Investor Bankruptcy 435

Housing Wire

OCTOBER 13, 2022

RTC), closed 747 S&Ls with assets of more than $407 billion. . Capasse sees the headwinds facing the independent mortgage banking industry over the next couple years as being near hurricane-force in their impact. The thrift crisis came to its end when the RTC was eventually closed on December 31, 1995,” the synopsis states.

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Mortgages Marketing Banks Loans 370

Housing Wire

SEPTEMBER 21, 2022

Because non-QM, or non-prime, mortgages are deemed riskier than prime loans, in a normal market they generally command an interest rate about 150 basis points above prime agency rates, according to industry executives. Freddie Mac’s latest Primary Mortgage Market Survey places the current rate for a 30-year fixed mortgage at 6.02%.

Lending 418

Lending Loans Bankruptcy Mortgages 418

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. Sprout Mortgage on July 6 closed its doors suddenly, leaving hundreds of employees without jobs and paychecks. It’s whether they’re able to sell off their closed loans. Warehouse Lenders.

Lending 397

Lending Banks Bankruptcy Loans 397

Housing Wire

APRIL 22, 2022

It’s a crisis that one industry executive describes as “a situation where we have to get the pig through the belly of the python.”. …Now we’re funding close to a mid-6 [percent] coupon rate, and the loans we’re locking are at 7.5 The rate escalation started at the beginning of this year and is continuing to play out.

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Loans Lending Mortgages Investor 418

The Close

JANUARY 25, 2022

Want to work with all-cash buyers who scoop up multiple properties per year, close fast, and won’t drag you to open houses every Sunday? Building the skills you’ll need to regularly pinpoint undervalued, off-market properties, advise investors, and close sometimes tricky deals won’t be easy. Overpricing the Property.

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Investor Closing Agents MLS 98

App Folio

DECEMBER 18, 2020

To better understand where the real estate industry is headed, we reached out to top thought leaders from residential property management, community associations management, and investment management to learn more about their experiences in 2020 and what they are doing to prepare for the year ahead. . What will 2021 bring? Listen now: ? ?.

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Industrial Property Management Investor Technology 105

Calculated Risk Real Estate

JULY 5, 2024

From Moody’s Analytics Economists: Apartment Demand Slowly Catching Up, Office Stress Continued to Manifest, Retail Resilient Despite Bankruptcies, And Industrial Cools Down National multifamily vacancy stayed flat at 5.7% Rising vacancy tapered off, allowing some room for slight performance gain.

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Bankruptcy As-is Industrial Closing 88

Point2Homes

AUGUST 12, 2020

An uptick in Canada’s home prices might seem unlikely amid the COVID-19 crisis, particularly when the economy is facing significant job losses and a record-high number of bankruptcie s. This means they’re able to obtain assets that will likely maintain their value post-pandemic.

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Bankruptcy Banks Loans Sales 96

Fancy Pants Homes

MAY 13, 2022

Udvar-Házy, Executive Chairman of the Board of the Air Lease Corporation, whose past credits include starting his own airline and basically creating the airplane leasing industry. It was commissioned by billionaire Steven F. Forbes estimates his worth at $18.5 Location, location, location: prime North Beverly Park.

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Bankruptcy Title Residential Banks 128

The Close

AUGUST 19, 2024

Real Estate Agent A real estate agent is the most common among real estate professionals, as obtaining this license is the first step to working in the real estate industry. appeared first on The Close. It’s a slightly more cost-effective option since agents don’t have to worry about additional membership dues to NAR.

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Agents Title Brokerage Bankruptcy 98

Kyle Handy

JANUARY 20, 2023

They aren’t closing these deals through PayPal but are trying to source a buyer as an FSBO homeowner. But there are a lot of industries that may be helpful if you’re looking to flip a house. Think about people within your community who might be able to give you a referral, even if they aren’t in your industry.

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House Flipping Bankruptcy Renovation Investor 89