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). in after-market hours on Thursday. 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.

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Bankruptcy Finance Equity Mortgages 369

Housing Wire

NOVEMBER 27, 2023

Veev said at the time that the funding would be used to scale its operations, accelerate its research and development, and expand construction into new markets. In March 2022 , Veev raised a $400 million Series D led by BOND , while LenX , Zeev Ventures , JLL Spark Global Ventures , and Fifth Wall also participated in the round.

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Bankruptcy Inspection Investor Staging 482

Housing Wire

DECEMBER 27, 2022

Marty Green thinks of the housing market in 2022 as two very different movies. But the housing market in the second half of 2022? By September, a full-fledged housing market recession had set in. The 2002 housing market has been a tale of two halves,” said Green. A mortgage rate lockdown freezes the housing market.

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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.

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Investor Bankruptcy Finance Equity 448

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. 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

JANUARY 5, 2021

Blackstone took full control of Stearns in fall 2019 after it exited bankruptcy due to significant debt problems. Guaranteed Rate said it expects the deal to strengthen its capital markets execution and produce synergies that will allow for additional profitability. This is a breaking news story. Check back for more updates.

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Lending Bankruptcy Loans Mortgages 538

Housing Wire

SEPTEMBER 9, 2022

The pace of mortgage-backed securities (MBS) issuance in the nonagency market slowed considerably in July and August as rising interest rates and Federal Reserve MBS-purchase policy have combined to dampen the momentum exhibited in the private-label space in 2021 and over the first half of this year. billion over the same period in 2021.

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Housing Wire

MARCH 6, 2024

“CMG’s financial wellness approach wins over each customer with a seamless combination of experienced human advisors and easy-to-use digital tools,” said Paul Akinmade, CMG’s financial chief marketing and strategy officer. year over year, per data from Inside Mortgage Finance (IMF). billion in volume, an increase of 19.9%

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Bankruptcy Loan Officer Mortgages Finance 447

Housing Wire

DECEMBER 27, 2023

The California-based retail lender has set a target of becoming a top-10 lender in the markets in which it has a presence, which would give it about 2% in overall market share. United Wholesale Mortgage , the top lender in the country by volume, claimed just under 8% total market share over the first nine months of 2023.

Mortgages 448

Mortgages Bankruptcy Lending Loan Officer 448

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.

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Housing Wire

MAY 13, 2024

The FSOC report, released on Friday, states that these companies quickly adapt their operations to market conditions, are early adopters of technology and are key for underserved borrower groups. In addition, nonbanks represent seven of the 10 largest servicers of Fannie Mae , Freddie Mac and Ginnie Mae loans. Treasury Secretary Janet L.

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Bankruptcy Finance Mortgages Banks 476

Housing Wire

JANUARY 4, 2022

Pontiac, Michigan-based United Wholesale Mortgage (UWM) capitalized on a booming private-label market in 2021 by sponsoring its inaugural securities transaction this past May, a prime jumbo deal involving 508 mortgages with an aggregate principal balance of $351.9 to 72% across the three deals in a market with fast-rising home prices.

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Marketing Debt-to-income ratio Loans Mortgages 397

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. The FSOC report states that nonbank servicers increased their market share from 4% in 2008 to 54% in 2022. He left the FHFA in February.

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Bankruptcy Finance Mortgages Banks 448

Housing Wire

JULY 27, 2022

AOMR)— has brought to market a total of five PLS deals backed by mortgage pools valued at $2.1 The question remains, however: Is Angel Oak’s liquidity strategy sufficiently robust to get it through the current economic environment, which is marked by high market volatility and fast-rising interest rates?

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Marketing Loans Investor Mortgages 397

Housing Wire

NOVEMBER 2, 2023

Smart Rate marked Strauss’s return to the mortgage market after abruptly shuttering Sprout Mortgage in July 2022. In addition, the Nationwide Multistate Licensing System (NMLS) shows that Jacksonville, Florida-based Smart Rate is no longer authorized to conduct business as of Oct. 3, indicating a voluntary surrender.

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Loan Officer Bankruptcy Loans Residential 468

Housing Wire

MAY 30, 2024

The news was first reported by Inside Mortgage Finance. Sam Valverde Speaking to attendees during a keynote speech, Valverde said that the government-owned company had “a reputation of being less than transparent,” according to the reporting, and wanted to “sensitize” the reverse mortgage market to its plans for the new product.

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Housing Wire

DECEMBER 10, 2021

In the world of mortgage-financing, there exists a product line defined by what it is not — non-qualified mortgage (non-QM), non-prime, non-agency or an alternative-documentation loan. We expect total [private-label] issuance for 2021 to be approximately $25 billion,” said Smith, referring to the non-QM private-label securitization market. “In

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Loans Lending Bankruptcy Mortgages 497

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. They can hold it and wait for the market to recover.

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Mortgages Bankruptcy Loans Finance 459

Housing Wire

MARCH 3, 2022

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. One of the critical mechanisms of securitization is the separation of the underlying assets from the bankruptcy risk of the mortgage bond issuer.

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Bankruptcy Investor Fixed-rate mortgage Loans 396

Housing Wire

OCTOBER 13, 2022

The financial chaos that sparked the savings and loan crisis of the 1980s, leading to a government bailout, now haunts the independent mortgage banking market this Halloween season — and beyond. mortgage market was ripe for refinancing, but today closer to 10%. . RTC), closed 747 S&Ls with assets of more than $407 billion. .

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Mortgages Marketing Banks Loans 370

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. a long-term player in the non-QM mortgage market. The Angel Oak Cos. billion,” the REIT reports.

Mortgages 397

Mortgages Residential Loans Lending 397

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. Capabilities include loss mitigation, bankruptcy, foreclosure, invoicing and claims. Secondary Marketing.

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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.” This is a different situation.”

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Mortgages Bankruptcy Principal Industrial 476

Housing Wire

SEPTEMBER 8, 2022

The housing market is very subsidized for demand to grow and whenever the economy gets weaker, rates fall and that impacts the housing market in a disproportionate way. The entire system has to be designed to inflate the price over time. This is what we do in America. Remember, the system is designed to keep home prices inflated.

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Loans Banks Equity Bankruptcy 544

Housing Wire

JUNE 21, 2024

Most notably marketed by MV Realty under the moniker of its Homeowner Benefit Program , homeowners who sign a right-to-list agreement receive anywhere from $300 to $5,000. 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.

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Housing Wire

DECEMBER 13, 2024

The Mortgage Bankers Association (MBA) this week published a proposal for Ginnie Mae to develop a new mortgage securitization product that could boost the availability of private capital liquidity sources into the market, particularly in periods of stress for the U.S. could serve as a logistical template for such a product.

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Bankruptcy Loans Investor Banks 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%.

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Lending Loans Bankruptcy Mortgages 418

Housing Wire

MARCH 23, 2022

Minneapolis-based CarVal Investors , a global alternative investment manager and long-time player in the mortgage market, has launched a real estate mortgage investment conduit, or REMIC, that plans to work with loan originators around the country to develop and acquire innovative nonagency mortgage products.

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Bankruptcy Banks Loans Residential 397

Housing Wire

JULY 11, 2024

at the time of its 2022 bankruptcy. Data compiled by New View Advisors shows that while Finance of America ’s HMBS portfolio recently surpassed the size of the former RMF portfolio, it still represents a sizable share of the total HMBS market despite not acting as an issuer in the program.

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Banks Bankruptcy Mortgages Lending 433

Housing Wire

FEBRUARY 23, 2024

per share at market open on Friday, up from $10.98 per share at market close the day before. To the extent that you can get loans off your balance sheet faster, it lowers your financing costs. New client and market share acquisitions In a rare move, Rocket shared specific numbers of its market share growth.

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Housing Wire

MAY 13, 2021

As you probably know by now, the Federal Housing and Finance Agency has limited GSEs to a 7% cap on loan purchases for second home and investment properties. Portfolio Select is a good option for those just two years out of foreclosure, short sale, bankruptcy or deed-in-lieu. How does this impact originators? Learn more.

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Realty Biz

APRIL 5, 2022

One of the frequently asked questions during today’s booming housing market is can I qualify for a mortgage during Chapter 13 Bankruptcy. Chapter 13 Bankruptcy is a court-approved debt repayment plan where their debts are restructured over a period of three to five years. Mortgage Options During Chapter 13 Bankruptcy.

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Bankruptcy Debt-to-income ratio VA loan FHA loan 120

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 448

Bankruptcy Loans Mortgages Equity 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

DECEMBER 14, 2021

The non-QM mortgage market, which encompasses most home loans not backed by a government-sponsored guarantee, is expected to reach the $25 billion mark this year in private-label securitization volume. . Automation just increases efficiencies,” Hutchens added.

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Lending Loans Bankruptcy Technology 397

Housing Wire

NOVEMBER 9, 2022

Rising interest rates, sparked by Federal Reserve tightening policies, is the primary cause of the mortgage-finance industry’s pain right now. In September alone, IMBs slashed some 8,200 jobs, a recent Inside Mortgage Finance analysis of U.S. filed for Chapter 11 bankruptcy. [In Bureau of Labor Statistics data shows.

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Loan Officer Loans Mortgages Industrial 435

Realty Biz

MARCH 21, 2024

If you’re struggling financially and unable to pay your bills, you may have considered filing for bankruptcy. Filing for bankruptcy gives you a fresh start, but it stays on your credit report for up to 10 years — resulting in consequences for years to come. Instead, you can focus on one. Consider making lifestyle changes as well.

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