Housing Wire

NOVEMBER 21, 2024

UBS analyst Douglas Harter recently made waves after he took a closer look at the stock of reverse mortgage industry leader Finance of America (FOA). Harter downgraded the company’s stock rating on from “buy” to “neutral” even after it reported strong earnings results in the third quarter of 2024.

Bankruptcy 366

Bankruptcy Finance Equity Mortgages 366

Housing Wire

APRIL 10, 2024

The company also said it “continues to evaluate new products to reach additional segments of the population facing a retirement gap,” and describes recent reverse mortgage industry consolidation following influential industry changes in 2017 and the 2022 bankruptcy of Reverse Mortgage Funding (RMF). “As

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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 467

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 467

Housing Wire

MAY 20, 2024

After that, he spent about three years at the Federal Housing Finance Agency (FHFA), where he became deputy director and the chief fintech officer. Others in the industry believe that’s the correct arena to deal with broader housing regulation. He left the FHFA in February. You normally don’t see that in the FSOC report.”

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Bankruptcy Finance Mortgages Banks 447

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. The funds were forwarded to subservicer Celink , who then fulfilled borrower payments.

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Bankruptcy Banks Loans Lending 448

Housing Wire

DECEMBER 27, 2023

nationally, per Inside Mortgage Finance (IMF) estimates. There were also a few cases of bankruptcy. HousingWire tracked 62 mergers, acquisitions, exits and bankruptcies covered by the newsroom in 2023. bankruptcies. By the same measure, Guild had just 1.1% M&A deals comprised 79% of the total, followed by 17.7%

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Mortgages Bankruptcy Lending Loan Officer 448

Housing Wire

APRIL 1, 2024

Recorded in property records since 2018, right-to-list agreements can be misleading in many instances, and they can create “impediments and increase the cost and complexity of transferring or financing real estate in the future,” according to a news release from the American Land Title Association (ALTA), which supports the legislation.

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Title Bankruptcy Land Finance 448

Housing Wire

DECEMBER 7, 2020

But Mr. Cooper often didn’t take those mods into account, and then foreclosed on thousands of those borrowers, damaging their finances and credit, the CFPB and state attorneys generals for 53 states and territories said on Monday. “[Mr. million in redress to other borrowers affected by the conduct alleged in the complaint. .

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Bankruptcy Loans Mortgages Finance 537

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.

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Marketing Equity Loans Bankruptcy 529

Housing Wire

JANUARY 4, 2024

Any time we see exits and consolidations we tend to see a dip in industry production for a time,” McCue said. “In Beyond that will depend on what happens to rates.” In the case of large institutions such as Bank of America , Wells Fargo , and MetLife , we never regained their lost volume. This is a different situation.”

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Mortgages Bankruptcy Principal Industrial 476

Housing Wire

MAY 30, 2024

The news was first reported by Inside Mortgage Finance. Ginnie Mae first signaled in January that it was planning to develop a new HMBS product, which has been colloquially referred to by industry participants as “HMBS 2.0.” on Wednesday.

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Bankruptcy Loans Equity Development 471

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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Housing Wire

JULY 8, 2022

A deal for financing fell through and Strauss made the decision to pull the plug on Wednesday, sources said. FGMC) and its affiliate Maverick II Holdings filed for Chapter 11 bankruptcy protection in late June after suddenly cutting hundreds of jobs. Sprout is the second major non-QM lender to shut down operations recently.

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Mortgages Bankruptcy Loans Finance 459

Housing Wire

MARCH 3, 2022

As all participants in the mortgage industry know, securitization is a critical tool for making loans to homeowners at affordable rates. There are many reasons why securitization works so well and why the ability to originate and finance a loan is as reliable as turning on your tap and knowing it will produce water.

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Bankruptcy Investor Fixed-rate mortgage Loans 395

Housing Wire

JUNE 21, 2024

The title industry trade group, along with AARP, have spearheaded the effort to outlaw the agreements. In September 2023 , MV Realty filed for Chapter 11 bankruptcy in 33 states. In March 2023, Utah became the first state to ban these types of agreements. Since then, 29 other states have followed suit.

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Title Bankruptcy Land Equity 392

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

DECEMBER 13, 2024

This would aim to address liquidity challenges that plagued the reverse mortgage business stemming from the late 2022 bankruptcy of a major lender , the run-up in interest rates and a precipitous drop in loan volume. then, youre welcome, forward mortgage industry, Kelly said. as potential paths for its new proposal.

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Bankruptcy Loans Investor Banks 368

Housing Wire

AUGUST 11, 2022

Because they are deemed riskier loans than conforming agency-eligible mortgages, rates for non-QM loans generally average around 150 basis points higher than conforming rates in a normal market, according to industry experts. The added warehouse financing capacity brings “the maximum availability on all financing lines to $1.9

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Mortgages Residential Loans Lending 397

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

MARCH 23, 2022

Non-QM mortgages also go to a slice of borrowers facing credit challenges — such as a recent bankruptcy or slightly out-of-bounds credit scores. The loans may include interest-only , 40-year terms or other creative financing features often designed to lower monthly payments.

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Bankruptcy Banks Loans Investor 397

Housing Wire

FEBRUARY 22, 2024

Processes and risks In December 2022, Ginnie Mae seized RMF’s HMBS portfolio due to the company’s bankruptcy, and the resulting stresses contributed to the decision to investigate, Oliver Davis explained at the time.

Bankruptcy 447

Bankruptcy Loans Mortgages Equity 447

Housing Wire

DECEMBER 21, 2021

The pool of non-QM borrowers includes real estate investors, property flippers, foreign nationals, business owners and the self-employed, as well as a smaller group of homebuyers facing credit challenges, such as past bankruptcies. At that time, it represented nearly 60% of RMBS issuance across agency and non-agency lines.

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Marketing Loans Investor Bankruptcy 434

Housing Wire

SEPTEMBER 9, 2022

The nonagency share of the market has been rising slowly since then, reaching 4.32% in 2021, according to recent analysis by the Urban Institute ’s Housing Finance Policy Center. Some companies have shut down entirely, such as Sprout Mortgage , or filed for bankruptcy protection, as is the case for First Guaranty Mortgage Corporation. “As

Marketing 435

Marketing Fixed-rate mortgage Bankruptcy Mortgages 435

Housing Wire

MAY 10, 2022

The Hill case is not a common occurrence in the world of housing finance, but it is far from rare. As the housing market enters a purchase-market cycle sparked by rising mortgage rates that have killed off a long-running refinance boom, we can expect to see mortgage-fraud schemes proliferate, industry experts say. Loan or Finance Cos.

Mortgages 418

Mortgages Marketing Loans Finance 418

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. The added warehouse financing capacity brings “the maximum availability on all financing lines to $1.9

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Lending Loans Bankruptcy Mortgages 418

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

FEBRUARY 23, 2024

To the extent that you can get loans off your balance sheet faster, it lowers your financing costs. In 2023 alone, the mortgage industry saw a total of 62 merger and acquisition transactions, lender exits and bankruptcies. The company doesn’t break out purchase business versus refinances in its earnings reports.

Equity 448

Equity Bankruptcy Loans Mortgages 448

Housing Wire

JUNE 28, 2021

Ultimately, DeZarn concluded, “We don’t know where this industry is going.”. AMCs have existed since the late 1960s,” explains a 2018 report by the Federal Housing Finance Agency , entitled “Are Appraisal Management Companies Value-Adding?” “But Andrew Cuomo’s medium-sized idea. Rickard never got paid.

Bankruptcy 435

Bankruptcy Loans Industrial Mortgages 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 13, 2022

Independent mortgage banks (IMBs) account for nearly 74% of agency mortgage originations, which is the bulk of the market, according to a recent report by the Urban Institute ’s Housing Finance Policy Center (HFPC). The primary deals are large IMB’s buying smaller IMBs. Garth Graham, senior partner at stratmor group. Past is Present.

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Mortgages Marketing Banks Loans 370

Housing Wire

JANUARY 4, 2022

Rising interest rates, coupled with increased agency loan limits and the Federal Housing Finance Agency ’s decision to suspend a temporary agency cap on the purchase of investment-property mortgages are expected to be a drag on the growth of the private-label market in the year ahead.

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Marketing Debt-to-income ratio Loans Mortgages 395

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.

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Loans Lending Investor Mortgages 370

McKissock

FEBRUARY 16, 2021

Why might you be engaged to appraise a single or multi-tenant industrial or flex style office building? What information do you need when appraising industrial and flex buildings ? There are any number of reasons why you would be engaged to appraise an industrial or flex style property. Reasons for engagement.

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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.

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Loans Lending Mortgages Investor 418

Realty Biz

SEPTEMBER 30, 2023

Let's delve deeper into these topics to guide you towards an affordable home financing solution. However, generally, a credit score below 620 is often seen as a lower credit score in the mortgage industry. Mortgage rates can fluctuate daily, so keeping track of them will help you make an informed decision about your financing options.

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Finance Debt-to-income ratio FHA loan Mortgages 96

Notorious ROB

OCTOBER 24, 2022

It’s part of the industry and as old as the industry itself. I’m a perfect example, since I met my wife Sunny (who is a recovering real estate broker, and still works in the industry) at a real estate conference. Back when I was still thinking about pursuing law as a career, my interest was in bankruptcy law.

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Brokerage Bankruptcy Property Management Title 88