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 429

Mortgages Bankruptcy Staging As-is 429

Housing Wire

DECEMBER 19, 2024

After informing the prospect that he would be able to do the loan, the client decided to move forward with Rodriguez as his originator. This guy was in a Chapter 13 bankruptcy at the time, was behind on credit cards and on his mortgage, and was on the verge of losing his house. Reverse is all I’ve been doing since then.

Bankruptcy 397

Bankruptcy Mortgages Principal Loans 397

Housing Wire

NOVEMBER 14, 2024

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

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Investor Mortgages Bankruptcy Equity 370

Housing Wire

APRIL 18, 2024

The loan repurchase trend that began to sting many mortgage originators in 2022 appears to finally be winding down, according to a recent report by Sterling Point Advisors and Augment Analytics. We’re seeing a downward trend in total [loans] repurchased [on a dollar basis], and that’s true for both Fannie and Freddie,” Ludden said. “I

Loans 448

Loans Due diligence Investor Technology 448

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

JANUARY 31, 2022

For more than 50 years, the Black Knight MSP loan servicing system has been helping power servicing operations from loan boarding, payment processing and escrow administration to investor reporting, compliance management, default processing and more. In fact, 42% of MSP clients service fewer than 50,000 loans.”.

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Loans Bankruptcy Equity Investor 368

Housing Wire

APRIL 10, 2023

As a follow-up, HousingWire sat down with Peter Richter, co-founder and president at Flueid, to discuss why mortgage lenders should be asking for a quick, data-driven title check at loan application, rather than an instant title commitment, to understand and verify what’s going on with a property and consumer from the start.

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Title Loans Equity Title search 397

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 467

Bankruptcy Banks Development Loans 467

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. trillion in the second quarter of 2022, capitalizing on home equity loans and home equity line of credit (HELOC). Layoffs, LOs leaving the industry for good.

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Marketing Equity Loans Bankruptcy 529

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.

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Title Title search Land Due diligence 518

Housing Wire

DECEMBER 7, 2020

Cooper , the nation’s largest nonbank servicer of mortgage loans, will refund customers nearly $90 million and pay a civil penalty of more than $6.5 Those modifications allowed the borrower to make trial payments, which would then require the servicer to permanently modify the loans. 2012 and Jan. 1, 2021.

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Bankruptcy Loans Mortgages Finance 537

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 11, 2024

Ginnie Mae: loans are our ‘absolute property’ In a filing to the court submitted on Wednesday, Ginnie Mae — using its official acronym “GNMA” in court filings — said that TCB cannot challenge the authority the company maintains over the reverse mortgage securities program. TCB’s interest, Ginnie Mae said, “derived entirely from RMF.”

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Lending Bankruptcy Mortgages Banks 459

Housing Wire

SEPTEMBER 22, 2023

Read on to learn more about Duncan’s views on the housing market, loan performance and affordability challenges homebuyers face. The servicing side of the business is doing very well because those loans are simply not going to prepay for a long time. So, the servicing valuation on those loans is strong, because pre-payments are low.

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FHA loan Bankruptcy Marketing Loans 476

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.” It will enable the acquisition of loans from an HMBS pool above the existing 98% maximum claim amount (MCA) requirement, according to an initial announcement by Ginnie Mae.

Bankruptcy 473

Bankruptcy Loans Equity Development 473

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.

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Lending Bankruptcy Equity Loans 435

Housing Wire

MARCH 7, 2023

appointed Michelle DeHart as the vice president of loan operations, escrow, the company announced on Tuesday. DeHart’s professional career spans 25 years in the mortgage banking and financial services industry. Cenlar FSB, the second-largest mortgage servicer and largest sub-servicer in the U.S.,

Loans 370

Loans Banks Mortgages Technology 370

Housing Wire

JANUARY 16, 2024

Ginnie Mae intends to develop a new reverse mortgage-backed security product enabling the acquisition of loans from an HMBS pool above the existing 98% maximum claim amount (MCA) requirement, according to a new announcement.

Mortgages 459

Mortgages Bankruptcy Loans Equity 459

Housing Wire

AUGUST 9, 2022

A closer look at WMC’s books, however, shows that as of June 30 its residential whole loan portfolio, nearly all of which is comprised of non-QM loans, was underwater by some $44 million. That’s based on a comparison of the principal balance of the loans on the books and their fair market value as reported by the REIT as of that date.

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Marketing Bankruptcy Loans Principal 418

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. Former employees of Sprout said loans in the pipeline are still pending, and it’s highly doubtful they will be funded. They can hold it and wait for the market to recover.

Mortgages 459

Mortgages Bankruptcy Loans Finance 459

Housing Wire

NOVEMBER 28, 2023

But when every loan matters, like the market we find ourselves in today, it makes a lot of sense to take a closer look at the borrower’s credit score. A glance at the headlines will tell you that more industry leaders are beginning to take the borrower’s credit seriously. Why shouldn’t lenders assume that this metric is fixed?

Bankruptcy 435

Bankruptcy Loans Mortgages As-is 435

Housing Wire

DECEMBER 27, 2023

The company hopes to reach its goal by growing organically with more loan officers under a dozen business development managers. There were also a few cases of bankruptcy. HousingWire tracked 62 mergers, acquisitions, exits and bankruptcies covered by the newsroom in 2023. bankruptcies. exits and 3.2%

Mortgages 448

Mortgages Bankruptcy Lending Loan Officer 448

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 451

Bankruptcy Loans Banks Mortgages 451

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

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.

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Lending Mortgages Bankruptcy Banks 418

Housing Wire

JULY 29, 2021

In light of this important industry and policy topic, I thought it instructive to provide further insight into the arguments raised from that previous piece. Many of these firms experienced bankruptcies and closures similar to that of New Century.”. These were 2000-2003, 2004-2008Q2, 2008Q3-2011, and 2012-2015. Specifically, the 1.9

Mortgages 448

Mortgages Loans Bankruptcy Industrial 448

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. The process of bundling loans and separating risks makes available fixed-rate mortgages that are fully prepayable at borrowing costs well below other forms of debt.

Bankruptcy 396

Bankruptcy Investor Fixed-rate mortgage Loans 396

Housing Wire

JANUARY 4, 2024

Endorsement volume falls slightly While not a pronounced drop, HECM endorsements fell 3% to end the month with 2,190 loans, but that general drop came with a few notable exceptions according to RMI. Any time we see exits and consolidations we tend to see a dip in industry production for a time,” McCue said. “In

Mortgages 476

Mortgages Bankruptcy Principal Industrial 476

Housing Wire

APRIL 1, 2024

For a homeowner in need of extra cash, somewhere between $300 to $5,000, a company will give them the cash they need without a loan. ALTA, the national trade association of the title insurance industry, and the AARP lauded the Kentucky General Assembly on Monday for passage of House Bill 88. Sponsored by State Rep.

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Title Bankruptcy Land Finance 448

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. . It’s going to happen at some point, or at least make it much easier.”. Automation just increases efficiencies,” Hutchens added.

Lending 397

Lending Loans Bankruptcy Technology 397

Housing Wire

JANUARY 19, 2023

When industry veteran Michael Strauss abruptly shut down Long Island-based Sprout Mortgage in early July, there was uproar. The lawsuits quickly came pouring in, but Strauss never did seek bankruptcy protection for Sprout or its affiliates. The mystery as to what happened to its loan pipeline and funding endure.

Mortgages 418

Mortgages Bankruptcy Loans Investor 418

Housing Wire

OCTOBER 31, 2023

1 reason a mortgage loan applicant is denied for a loan is a problem with their credit score. But when every loan matters, like the market we find themselves in today, it makes a lot of sense to take a closer look at the borrower’s credit score. But that’s only true if the problem is approached correctly.

Bankruptcy 435

Bankruptcy Loans Mortgages As-is 435

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

OCTOBER 12, 2023

Within mortgage companies, even those that have huge scale versus small scale, they’re offering really the same borrower experience and the same loan officer experience. Obviously, they’ve got some different systems to handle hundreds of loans a month versus thousands or tens of thousands. SW: How do you fix that?

Mortgages 448

Mortgages Technology Loans Loan Officer 448

Housing Wire

DECEMBER 21, 2021

The major driver of private-label issuance this year has been the jumbo-loan market. RMBS offerings backed by jumbo loans are projected to reach the $60 billion level for 2021, according to estimates by Redwood Trust , a sponsor of multiple private-label offerings through its Sequoia securitization program.

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Marketing Loans Investor Bankruptcy 435

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. In recent years, the total number of participants in the HMBS program has steadily declined,” the report said. “In

Bankruptcy 448

Bankruptcy Loans Mortgages Equity 448