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Reverse mortgage alums secure financing for alternative equity-tapping product

Housing Wire

The funding will go to support the company’s specialty home equity-tapping product known as the Cornerstone Home Equity Insurance/Investment Funding Solutions (CHEIFS). The product operates similarly to a shared equity investment. CHEIFS is currently available in four states: Arizona , California , Florida and Pennsylvania.

Equity 369
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Portrait of a pre-foreclosure peacemaker

Housing Wire

The rest are saving their equity with us by either selling to us or allowing us to list.” 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 Most of the homeowners don’t qualify for refinancing. “I I really don’t recommend that.”

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Bankruptcy judge approves Celink stipulation in RMF bankruptcy case

Housing Wire

The presiding judge in the ongoing bankruptcy case of Reverse Mortgage Funding (RMF) has approved a stipulation that would resolve an administrative claim made against the company’s estate by reverse mortgage servicing company Celink , authorizing both companies to consummate the agreement. Celink continues to defend itself in both cases.

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FGMC owes Customers Bank $25M, bankruptcy filing shows

Housing Wire

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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A closer look at investor attitudes and trends in reverse mortgage stocks

Housing Wire

Executive leaders there pointed to the performance of the company’s proprietary loan products and trends in the Home Equity Conversion Mortgage ( HECM ) space as favorable. People have looked at the demographics, the under-savings of seniors and the significant amount of home equity seniors hold as a potentially large opportunity,” he said.

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Transforming the mortgage and real estate process: Insights from Tech100 leaders

Housing Wire

Flueid has solved both problems with our Flueid Decision platform, which combines robust data sets with underwriter-approved title risk logic to securely identify title risks and assess a property’s title condition for refinance, home equity, purchase, and default transactions. We call this process VOT or Verification of Title.

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Modular homebuilding startup Veev on the verge of bankruptcy

Housing Wire

Reali , another proptech company founded by Heller and Avrahami, shut down in 2022 after raising more than $290 million in debt and equity funding. Veev was founded in California, in 2008 by Amit Heller, Ami Avrahami, and Dafna Akiva.