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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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No, homeowner delinquency rates aren’t elevated

Housing Wire

However, the data references Freddie Mac ‘s Serious Delinquency levels on multifamily loans. These loans pertain to multifamily mortgages, which are used for commercial properties with five or more units, such as apartment buildings. But as we can see in the chart below, the data clearly identifies these as multifamily loans.

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After implosion, FGMC files for bankruptcy

Housing Wire

FGMC) and its affiliate Maverick II Holdings filed for Chapter 11 bankruptcy protection late Wednesday. . They are particularly worried about loans already approved but not purchased by FGMC. . The company said the bankruptcy action has no impact on closed mortgages, which are already serviced by third parties.

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Nonbank Hometown Lenders files for bankruptcy

Housing Wire

Hometown Lenders has filed for Chapter 11 bankruptcy protection in Alabama, blaming the Federal Reserve’s policy to curb inflation for its debacle. Most were conventional (67%) and purchase (75%) loans. ” The lender closed on October 13, 2023, amid a challenging mortgage market. .” billion the previous year.

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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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Crowdfunding platform Peer Street files for bankruptcy

Housing Wire

” The company sources loans for private lenders and brokers, which are offered for sale to institutional investors or posted on the company’s online platform. In addition, Peer Street acts as a master servicer and manages loans on behalf of investors. million in 2021, Dunn wrote. million, down 23.2% from the year prior.

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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. Historically, these processes involved multiple manual steps and handoffs, resulting in delays and higher costs.

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