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Judge rules in favor of Ginnie Mae in lawsuit brought by Texas Capital Bank

Housing Wire

The suit was filed by Texas Capital Bank (TCB) against Ginnie Mae in late 2023. The bank alleged that Ginnie Mae had extinguished, in return for no consideration, TCBs first priority lien on tens of millions of dollars in collateral stemming from the [FHA]-sponsored [ HECM ] program. District Court for the Northern District of Texas.

Banks 312
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Longbridge has a new addition to its proprietary reverse mortgage suite

Housing Wire

Following other recent proprietary product development news, Longbridge Financial announced on Friday the launch of a new variation for its private fixed-rate reverse mortgage offering. Principal agents and closed loan sellers can ask their LOS administrator to add it to their available product menu, the company said.

Mortgages 349
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Tane Cabe talks reverse mortgage industry challenges, software development

Housing Wire

“They’re a more forward-thinking broker, and there has been lots of activity with the HECM Tool, which is a software application that I developed. That way, credit unions, banks and other lenders [can use it] to help them get off to a good start.” But I think there’s definitely a lot of good momentum out there.”

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

Housing Wire

“They’ve managed to continue securitizing across their platforms, which has allowed them to grow their portfolio, increase earnings, and get back to covering the dividend from an earnings-available-for-distribution standpoint this quarter, which was a positive development,” Harter said.

Investor 370
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IMBs have a duty to serve lower-income communities

Housing Wire

Federal Reserve Chairman Jerome Powell recently observed that across all kinds of financial services, activities that had once been principally the province of banks have moved into the nonbank sector, including IMBs. Bank CRA obligations cover far more than their mortgage lending.

Banks 516
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Opinion: Why aren’t more commercial brokerages seeking affiliated arrangements?

Housing Wire

So why aren’t more commercial real estate (CRE) entities – investors , principals, banks, law firms or developers – seeking the same? A significant opportunity To be sure, there are title agencies eager to partner with CRE principals and funds. CRE firms are also suffering through the highest interest rates seen in years.

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Peter Knag joins Offerpad as CFO

Housing Wire

He began his career in investment banking, going on to work for Lehman Brothers and First Albany Corp. His extensive background in finance and corporate development, along with his proven leadership in business operations and complex transactions makes him an invaluable addition to our executive team. million.

Principal 447