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Portrait of a pre-foreclosure peacemaker

Housing Wire

But only about 17,000 delinquent loans completed the foreclosure process in the second quarter of 2024, almost one-third of the nearly 45,000 that completed the foreclosure process in Q1 2020. Often, the best available option for staying in the home is through a loan modification or some other type of repayment plan with the bank.

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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.

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

Housing Wire

From streamlining title verification to enabling collaborative loan processing and automating key title production tasks, these leaders are helping shape a faster, smarter, and more efficient housing market. We call this process VOT or Verification of Title.

Title 370
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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. In the case of FOA — the current industry leader — the earnings results were robust.

Investor 370
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The risk of zero-down loans while the Fed talks recession

Housing Wire

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. Are we really doing those types of loans and promoting homeownership again without understanding the risks?

Loans 544
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Opinion: How did homeowners get into home equity prison?

Housing Wire

Even though they have a low mortgage rate on their home loan, the pandemic causes unanticipated financial hardships which lead to a decrease in their annual income as well as the necessity of using credit cards for their basic needs. How could they ever justify walking away from a loan with this low of an interest rate ?

Equity 459
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The 2022 housing market: A tale of two halves

Housing Wire

They are not selling and have a lot of equity in their homes. Temporary rate buydowns have become a popular concession, especially among homebuilders, in which one out of 10 loans feature a seller-paid buydown, said Peter Idziak, senior associate at Polunsky Beitel Green. Layoffs, LOs leaving the industry for good.

Marketing 529