Housing Wire

JANUARY 24, 2025

There were a total of 298 consumer complaints submitted to the Consumer Financial Protection Bureau (CFPB) in 2024 that were related to the reverse mortgage industry, according to a database maintained by the bureau. Reverse mortgages once again encompassed only a small share of all consumer complaints levied at the broader mortgage industry.

Mortgages 417

Mortgages Bankruptcy Short sale Loans 417

Housing Wire

NOVEMBER 12, 2024

Corn is a longtime reverse mortgage industry professional, having served in leadership roles at Financial Freedom and EverBank Reverse Mortgage , and as vice president for MetLife ’s reverse mortgage division. In 2013, Corn and his partners launched RMF , which became a leading reverse mortgage lender. 31 of that year.

Equity 369

Equity Finance Mortgages Bankruptcy 369

Housing Wire

FEBRUARY 4, 2025

“In parallel to that, starting in April of this year, we’re also starting the implementation pathway for the largest servicer in the mortgage servicing industry. Dara Default offers decisioning, automated workflows, collections, loss mitigation, claims, foreclosure and bankruptcy and an attorney network.

Mortgages 432

Mortgages Bankruptcy Staging As-is 432

Housing Wire

FEBRUARY 11, 2025

The wildfires destroyed roughly 80% of the historic town of Lahaina, a cultural showcase and tourist mainstay for the booming Hawaiian tourism industry. Plaintiffs agreed to the settlement in part due to the potential for the power companys bankruptcy, despite the total figure not being enough to cover their losses.

Bankruptcy 351

Bankruptcy Land Industrial Marketing 351

Housing Wire

NOVEMBER 14, 2024

In the case of FOA — the current industry leader — the earnings results were robust. While Ellington’s results were softer in comparison , company leaders remain bullish on profitability prospects for Longbridge and the wider industry. With several top 10 reverse mortgage lenders now active in some form within the U.S.

Investor 370

Investor Mortgages Bankruptcy Equity 370

Housing Wire

NOVEMBER 26, 2024

It’s a game-changer for an industry often bogged down by outdated, siloed processes. With DecisionPoint, we’ve been able to automate key aspects of title production, such as searching bankruptcy records, identifying Office of Foreign Assets Control (OFAC) sanctions, and curative work.

Title 370

Title Mortgages Title search Bankruptcy 370

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 369

Bankruptcy Finance Equity Mortgages 369

Housing Wire

SEPTEMBER 5, 2023

The announcement comes in the wake of bankruptcy of allegations of fraudulent activity against reinsurer Vesttoo Ltd , which filed for Chapter 11 bankruptcy protection in August. We view TDI’s supervision order as a sensible action for a regulator to take given Vesttoo’s widespread impact on the insurance industry,” Ehrlichman said.

Bankruptcy 435

Bankruptcy Development Banks Industrial 435

Housing Wire

JULY 28, 2023

It follows a request from the shuttered lender to halt the agreement due to an involuntary bankruptcy petition filed by three creditors. New Wave Lending Group , JMJ Financial Group and EF Mortgage filed on July 5 an involuntary petition against Sprout under Chapter 7 of the Bankruptcy Code in a New York court, claiming the lender owes $1.3

Bankruptcy 369

Bankruptcy Banks Mortgages Loans 369

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.

Bankruptcy 468

Bankruptcy Banks Development Loans 468

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

Investor 448

Investor Bankruptcy Finance Equity 448

Housing Wire

FEBRUARY 16, 2024

The news about NAR’s insurance predicament began circulating late Wednesday , with industry analyst Rob Hahn highlighting the news in the Thursday edition of his email newsletter NotoriousROB. So your only leverage in negotiating the settlement is, ‘We’ll just file bankruptcy.’”

Bankruptcy 544

Bankruptcy Design As-is Industrial 544

Housing Wire

JANUARY 11, 2024

TCB’s contract with RMF and the bankruptcy court order also expressly stated that TCB’s right to a lien was subject to GNMA’s extinguishment rights.” 31, 2022, special requirements for HECM reverse mortgage loan pools, TCB’s tail agreement and documents from RMF’s bankruptcy case unfolding in the U.S.

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.

Bankruptcy 448

Bankruptcy Banks Loans Lending 448

Housing Wire

JUNE 21, 2022

As someone who spent a career in the title insurance industry – both as a builder of a title business and leader of the industry’s trade group, — I am proud of the role we play in helping to protect what most Americans consider the biggest purchase of their lives. Real estate is a $3 trillion industry in the United States.

Title 518

Title Title search Land Due diligence 518

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.

Mortgages 468

Mortgages Bankruptcy Industrial Closing 468

Housing Wire

JANUARY 5, 2023

Founded in 1988 as an industrial loan company, Silvergate began catering to companies in the cryptocurrency industry in 1993. “Silvergate believes in the digital asset industry and remains focused on providing value-added services for its core institutional customers,” the firm said. million in employee benefits.

Lending 418

Lending Mortgages Bankruptcy Banks 418

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

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.

Marketing 529

Marketing Equity Loans Bankruptcy 529

Housing Wire

SEPTEMBER 22, 2023

Kim: Bankruptcies and layoffs are still happening. How far are we into the industry’s consolidation? Duncan: I was looking at the bankruptcy data. It’s just gotten back to the pace of bankruptcy we saw in 2019. It is true [consumer] bankruptcies have been rising but from extremely low levels.

FHA loan 476

FHA loan Bankruptcy Marketing Loans 476

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

APRIL 1, 2024

Firms such as MV Realty (which has filed for Chapter 11 bankruptcy in more than 30 states), SellWhenever and HomeOptions generate home listing business through cash payments to homeowners and right-to-list agreements. Sponsored by State Rep. Penalties will be applied if NTRAPS are recorded in future property records.

Title 448

Title Bankruptcy Land Finance 448

Housing Wire

DECEMBER 7, 2020

Failed to timely disburse borrowers’ tax payments from their escrow accounts and failed to properly conduct escrow analyses for borrowers during their Chapter 13 bankruptcy proceedings. According to the release, if entered by the court, Mr. Cooper would be required to immediately set aside about $15.6

Bankruptcy 537

Bankruptcy Loans Mortgages Finance 537

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 460

Bankruptcy Loans Banks Mortgages 460

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.

Lending 435

Lending Bankruptcy Equity Loans 435

Housing Wire

MAY 30, 2024

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.” Steve Irwin “NRMLA is pleased to hear that Ginnie Mae will be releasing some of the details around a potential HMBS 2.0

Bankruptcy 474

Bankruptcy Loans Equity Development 474

Housing Wire

MAY 20, 2024

Others in the industry believe that’s the correct arena to deal with broader housing regulation. One thing was interesting to see in a report like this: they must have mentioned four or five times that the federal government has little authority or ability to intervene here. You normally don’t see that in the FSOC report.”

Bankruptcy 448

Bankruptcy Finance Mortgages Banks 448

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.”

Mortgages 476

Mortgages Bankruptcy Principal Industrial 476

Housing Wire

NOVEMBER 28, 2023

A glance at the headlines will tell you that more industry leaders are beginning to take the borrower’s credit seriously. This includes payment history, credit usage, credit account age, total number of accounts, hard inquiries and derogatory marks, such as late payments, collections, bankruptcies, civil judgments, foreclosures and liens.

Bankruptcy 435

Bankruptcy Loans Mortgages As-is 435

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

OCTOBER 7, 2024

Remedies for distressed borrowers previously limited to bankruptcy relief have seen significant expansion through the creation of FHFA , Dodd-Frank, and the CFPB. In our history, an election has never been so pivotal to the mortgage industry in terms of the outcome. HW: How else is Mortgage Connect evolving to meet industry needs?

Bankruptcy 431

Bankruptcy Industrial Investor Technology 431

Housing Wire

SEPTEMBER 1, 2021

The recent changes to leadership in the FHFA have shaken the industry – but will the impact have a positive or negative impact on brokers? Kaufman, a former lawyer, pleaded guilty to filing false claims in bankruptcy hearings and was disbarred. When he stopped making payments, several of the homes were foreclosed on, the U.S.

Mortgages 397

Mortgages Bankruptcy Banks Brokerage 397

Housing Wire

JULY 8, 2022

FGMC) and its affiliate Maverick II Holdings filed for Chapter 11 bankruptcy protection in late June after suddenly cutting hundreds of jobs. They’re not going to be able to make much money selling these loans,” said one industry capital markets veteran who did not work at Sprout. First Guaranty Mortgage Corp.

Mortgages 459

Mortgages Bankruptcy Loans Finance 459

Housing Wire

JANUARY 22, 2021

After its filing of bankruptcy in February, Rentpath , which owns Rent.com, ApartmentGuide.com, Rentals.com and Lovely.com, agreed to sell to CoStar for a reported $558 million. However, the deal was blocked by the FTC in December, citing the acquisition would “effectively eliminate price competition” given the twos rivalry.

Equity 397

Equity Bankruptcy Investor Commercial 397

Housing Wire

FEBRUARY 18, 2022

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 He repeatedly mentioned that the company had fallen into bankruptcy and was “not on track” to even make a profit before subtracting operating expenses.

Bankruptcy 418

Bankruptcy Brokerage Title Equity 418

Housing Wire

FEBRUARY 1, 2023

With more than 200 industry integrations, Aspen has already done the heavy lifting for ease of connectivity and seamless, easy integration. Users can get their system up and running in weeks with a mortgage servicing solution that synchronizes operations, streamlines workflow and improves servicing outcomes for all stakeholders.

Bankruptcy 395

Bankruptcy Technology Inspection 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. The firm had more than 500 real estate agents.

Title 396

Title Bankruptcy Land Equity 396