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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. They require the company to pay over their contributions to a deferred compensation plan maintained with the Principal Financial Group. This account currently has $750,000.

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Warehouse lenders stung by FGMC’s bankruptcy

Housing Wire

Recent pleadings filed in the bankruptcy case of First Guaranty Mortgage Corp. FGMC and its affiliate, Maverick II Holdings LLC , on June 30 filed to reorganize under Chapter 11 bankruptcy protection. Samples reveals in his declaration that FGMC was hemorrhaging cash just prior to filing for bankruptcy protection — posting a $23.3

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Origins: When a reverse mortgage saved a client from bankruptcy

Housing Wire

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. He also had mobility challenges, so Rodriguez assisted with filing court documents in conjunction with the reverse mortgage origination process in order to address the bankruptcy.

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A closer look at investor attitudes and trends in reverse mortgage stocks

Housing Wire

There’s always that push and pull between the long-term potential and the challenges the industry has faced, especially after regulatory changes affecting the amount of draws and more recently, the RMF bankruptcy.”

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Newrez to lay off 317 employees in Colorado

Housing Wire

According to a Worker Adjustment and Retraining Notification Act (WARN) notice sent to the state authority, jobs cut include professionals in activities related to bankruptcy, customer care, default, foreclosure and valuations, among others. The company owned $537 billion in unpaid principal balance (UPB) of servicing at the end of March.

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Tough Calls: Lessons from Volcker, inflation, and the Fed’s crossroads

Housing Wire

Treasury Inflation-Protected Securities are designed to repay principal and interest of a bond investment but are adjusted to CPI. In other words, the market isnt buying what Jay and team are selling. The second chart represents the 2-and 5-Year TIPS. The hashed vertical line is September 18 th , the day the Fed began cutting the FFR.

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Ginnie Mae fires back over RMF lending suit, seeks case dismissal

Housing Wire

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.” Ginnie Mae, however, says that TCB is attempting “to draw a distinction between the original principal balance” and the tails, which is an argument the government claims is unsupported. “[T]he

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