Housing Wire

MARCH 26, 2024

As the person relaxes on the couch watching television at night, they occasionally check the current value of their home and do a rough calculation of the amount of equity that they have accrued. Stated differently, you are dealing with individuals that may be in an equity prison. It comforts them for a brief moment.

Equity 459

Equity Loans Bankruptcy As-is 459

Housing Wire

DECEMBER 27, 2022

They are not selling and have a lot of equity in their homes. The elevated mortgage rate environment has created a mortgage rate lockdown effect of sorts, limiting the pool of customers for the mortgage industry. Homeowners in 2022 also tapped into their home equity, which peaked at $11.5

Marketing 529

Marketing Equity Loans Bankruptcy 529

Housing Wire

APRIL 10, 2024

The company also provides commentary for its fourth quarter 2023 financial performance, assesses its market advantages and offers an assessment of impacts stemming from changes in Ginnie Mae ’s Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program.

Investor 448

Investor Bankruptcy Finance Equity 448

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

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

MAY 30, 2024

Ginnie Mae is aiming to roll out plans for its new Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) product by the end of the year, according to acting president Sam Valverde, who spoke at the National Reverse Mortgage Lenders Association (NRMLA) Eastern Regional Meeting in Washington, D.C., on Wednesday.

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Bankruptcy Loans Equity Development 474

Housing Wire

JANUARY 11, 2024

In the initial October complaint, TCB alleged that the government-owned company “extinguished, in return for no consideration, TCB’s first priority lien on tens of millions of dollars in collateral” stemming from the Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgage (HECM) program.

Lending 459

Lending Bankruptcy Mortgages Banks 459

Housing Wire

JUNE 14, 2024

New filings The filing, posted to the court docket on Friday morning, shows the immediate bankruptcy concern of leaders at RMF and the lack of willingness from other reverse mortgage industry participants to assume control of the full loan portfolio. Ginnie Mae ultimately seized the RMF servicing portfolio on or about Dec.

Bankruptcy 448

Bankruptcy Banks Loans Lending 448

Housing Wire

JANUARY 16, 2024

Released on Tuesday morning, the move is a further attempt to address the well-documented liquidity challenges that have been plaguing the reverse mortgage business for most of the past year, stemming from the late 2022 bankruptcy of Reverse Mortgage Funding (RMF), the run-up in interest rates and a precipitous drop in loan volume.

Mortgages 459

Mortgages Bankruptcy Loans Equity 459

Housing Wire

FEBRUARY 5, 2021

“We have assembled the best in the industry and they have provided the rocket fuel to succeed,” Stearns said. At the time, the bankruptcy was being conducted by Blackstone , the private equity giant that acquired a majority stake in Stearns parent company, Stearns Holdings , back in 2015.

Lending 370

Lending Bankruptcy Title Mortgages 370

Housing Wire

SEPTEMBER 22, 2023

For existing homeowners, that’s good news because it means equity accumulation. These loans are going to refinance, and the consumer will be in good shape, building equity to become a move-up buyer. Kim: Bankruptcies and layoffs are still happening. How far are we into the industry’s consolidation?

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FHA loan Bankruptcy Marketing Loans 476

Housing Wire

MARCH 26, 2024

The Home Equity Conversion Mortgage (HECM) program faces stability and viability challenges stemming from the 2022 collapse of a major industry lender and its extinguishment from the HECM-backed Securities (HMBS) program, which could warrant congressional scrutiny if these challenges are not properly addressed by the U.S.

Bankruptcy 458

Bankruptcy Loans Banks Mortgages 458

Housing Wire

JANUARY 4, 2024

When assessing December’s Home Equity Conversion Mortgage (HECM) volume data for December 2023, Reverse Market Insight (RMI) used a choice word as the title for its commentary : “thud.” Any time we see exits and consolidations we tend to see a dip in industry production for a time,” McCue said. “In This is a different situation.”

Mortgages 476

Mortgages Bankruptcy Principal Industrial 476

Housing Wire

JANUARY 31, 2022

MSP is a single, comprehensive platform used by servicers of all sizes to support a wide range of loan products, including first mortgages and home equity loans and lines of credit on a single system. MSP is used to service approximately 36 million loans,” Black Knight President Joe Nackashi said. Anthony Jabbour, CEO.

Loans 369

Loans Bankruptcy Equity Investor 369

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

FEBRUARY 18, 2022

Redfin plans to completely revamp its mortgage services in 2022 following the expected acquisition of Bay Equity Home Loans in the second quarter. And while Zillow has scrapped iBuying, which all evidence so far points to as a money-hemorrhaging industry , Kelman said that Redfin will stay the course. “We When in doubt we go low.”.

Bankruptcy 418

Bankruptcy Brokerage Title Equity 418

Housing Wire

JUNE 21, 2024

The title industry trade group, along with AARP, have spearheaded the effort to outlaw the agreements. Hopefully, the swift action taken by lawmakers, along with state attorneys general, will be a strong deterrent to those looking to perpetuate similar schemes that strip hard-earned equity from people’s homes.”

Title 395

Title Bankruptcy Land Equity 395

Housing Wire

FEBRUARY 23, 2024

In 2023 alone, the mortgage industry saw a total of 62 merger and acquisition transactions, lender exits and bankruptcies. To court more clients, Rocket launched products targeted at accumulated home equity levels and potential homebuyers who face affordability challenges.

Bankruptcy 448

Bankruptcy Equity Loans Banks 448

Housing Wire

APRIL 10, 2023

And all of this helps create a more integrated (and more importantly, streamlined) lender-title workflow that empowers the collective to achieve the all-elusive 5-day close for home equity or 10-day close for refinance. HW: Almost every area of housing is focused on improving the consumer experience.

Title 397

Title Loans Equity Title search 397

Housing Wire

MARCH 1, 2024

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. The final amount will be determined by the trial judge. million.

Banks 447

Banks Bankruptcy Commercial Equity 447

Housing Wire

FEBRUARY 22, 2024

Department of Housing and Urban Development (HUD) Office of the Inspector General (OIG) announced the launch of an inquiry into Ginnie Mae ’s monitoring of now-bankrupt lender Reverse Mortgage Funding (RMF), and its extinguishment from the Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program.

Bankruptcy 448

Bankruptcy Loans Mortgages Equity 448

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?

Technology 501

Technology Mortgages Bankruptcy Industrial 501

Housing Wire

OCTOBER 13, 2022

The firm specializes in asset-backed credit, whole loans and private equity. Capasse sees the headwinds facing the independent mortgage banking industry over the next couple years as being near hurricane-force in their impact. “We There likely will be 40 to 50 deals done this year. Garth Graham, senior partner at stratmor group.

Mortgages 370

Mortgages Marketing Banks Loans 370

Housing Wire

DECEMBER 13, 2024

Importantly, the association said that the recent development of Ginnie Maes new, complementary Home Equity Conversion Mortgage ( HECM )-backed Securities ( HMBS ) product known as HMBS 2.0 then, youre welcome, forward mortgage industry, Kelly said. could serve as a logistical template for such a product.

Bankruptcy 370

Bankruptcy Loans Investor Banks 370

Housing Wire

SEPTEMBER 29, 2022

MAXEX is an Atlanta-based fintech company that is backed by leading private-equity and capital-markets investors, including J.P. 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.”.

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Marketing Pre-approval Bankruptcy Loans 397

BAM Media

APRIL 3, 2025

1: Foreclosures & Bankruptcies Still Below Pre-Pandemic Levels Consumers still worry that were heading for a repeat of the Great Recession of 2008. Number one, foreclosures and bankruptcies were rising in 2005, -6, -7, and -8. The nested equity is $38 trillion. And it could cost them BIG in the long run.

Bankruptcy 99

Bankruptcy Pre-approval Marketing FHA loan 99

Housing Wire

JANUARY 4, 2022

Most of the buyers are move-up buyers, and if you’re moving up to buy the property, you’re tapping into the equity from the property you’re selling, which is also going up in value 20% [year-over-year],” he added. “I I don’t think we’re seeing a lot of 3%- or 5%-down mortgages on those higher-priced homes. …

Marketing 397

Marketing Debt-to-income ratio Loans Mortgages 397

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. We’re prepping as if this is going to be a 12- to 24-month downcycle for us as an industry. Non-QM lender First Guaranty Mortgage Corp. That’s probably a little more common than people think.”.

Lending 397

Lending Banks Bankruptcy Loans 397

Housing Wire

MARCH 28, 2022

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. Non-QM guidelines iterate on a quarterly basis, sometimes on a monthly basis,” Yoon said.

Loans 370

Loans Lending Investor Mortgages 370

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.”. I can’t speak broadly for the industry, but we’ve acquired in excess of $500 million between loan trades and forward commitments in the last two weeks. SECURITIZATION & LOAN SALES.

Loans 418

Loans Lending Mortgages Investor 418

McKissock

AUGUST 7, 2022

When people could not make their mortgage payments, the housing bubble burst and thousands of homes were foreclosed, multiple big-name lenders declared bankruptcy, and the market required government bailouts. This crash didn’t just affect the real estate industry. Other fields also faced bankruptcy due to credit issues.

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Pre-approval Bankruptcy Banks Loans 91

HomeLight

JUNE 16, 2023

If you’re a homeowner with consumer or student debt, it’s tempting to tap into your home’s equity with a cash-out refinance to pay down these balances. Homeowners may refinance to secure a lower interest rate, change their loan terms, or, as in this case, tap into their home equity.

Fixed-rate mortgage 88

Fixed-rate mortgage Equity Loans Debt-to-income ratio 88

Propmodo

APRIL 30, 2024

Those in the industry holding out for cuts could soon consider selling assets, handing the keys back to the lenders, or halting projects altogether. After years of high times and low rates, the hangover is lasting longer than the industry wants it to, and people are looking for relief to weather the adverse effects.

Commercial 67

Commercial Bankruptcy Equity Investor 67

The Close

JANUARY 20, 2023

Wholesale real estate investing is a good choice if you’re looking for short-term opportunities to break into the investing industry by leveraging your existing skills as an agent. This means that you may need to create a plan for marketing to homeowners in foreclosure or divorce and bankruptcy attorneys. These are good exit points.

Investor 98

Investor Finance Bankruptcy Property Management 98

HomeLight

APRIL 29, 2022

Since its inception, Zillow has become a massive player in the online real estate industry. This site also lists whether a property is in bankruptcy, preforeclosure , or foreclosure. You’ll also be able to see property debt info, equity and profit potential, and ownership information. today Zillow has over 130 million listings.

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Agents Bankruptcy Sales Loans 111

Realty Biz

SEPTEMBER 30, 2023

Longer time to build equity: With a higher interest rate and potentially larger down payment, it may take longer for you to build equity in your home. However, generally, a credit score below 620 is often seen as a lower credit score in the mortgage industry. This adds an additional cost to your monthly payments.

Finance 96

Finance Debt-to-income ratio FHA loan Mortgages 96

HomeLight

JULY 31, 2021

Here’s a little background on what cash buyers tend to prioritize and look for when they make an offer, according to experts in the real estate and investing industry we spoke with directly. Value-add is the process of remodeling a home or complex to increase the value and add equity,” Shipwash explains. “In Motivated sellers.

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Earnest money deposit Inspection Inspection contingency Title 98