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Reverse purchase financing: The financing option no one is talking about

Housing Wire

2 However, these potential clients will also face challenges — namely market volatility, unpredictable interest rates and limited purchasing power due to increasing debt. This is a huge boon for the program as seller concessions have not been allowed within the FHA-insured program since its inception.

Finance 441
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Silicon Valley’s ‘bridge bank’ resumes mortgage originations 

Housing Wire

Silicon Valley Bank resumed mortgage originations on Tuesday via its newly established “bridge bank” — just four days after California state regulators took possession of the financial institution and appointed the Federal Deposit Insurance Company (FDIC) as receivers.

Mortgage 354
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Did Michael Strauss, accused of fraud, just start a new mortgage company?

Housing Wire

There were no severance packages, and even health insurance was canceled retroactive to May 2022, leaving some on the hook for huge medical bills. In 2009, the Securities and Exchange Commission (SEC) charged two former executives at American Home Mortgage Investment Corp. Shocked employees didn’t receive their last paychecks.

Mortgage 393
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ALTA shakes up leadership team with staff promotions

Housing Wire

She ensured the association continued to provide networking and educational opportunities to the title insurance industry within the new platform. Steve Gottheim, who has been with ALTA since 2009, was promoted to general counsel. WFG reports its highest volume months ever during Q2 and Q3 of 2020. Presented by: WFG.

Insurance 236
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Cardinals of a different feather: Inside Samson Properties’ unique model

Housing Wire

In return, the Samson agent is asked – not told, asked – to refer clients to Cardinal Title Group , a title insurer wholly owned by Samson. “I In 2009, Samson Properties, still led by Danny Samson, created Cardinal Title Group, and soon thereafter gave agents a 100% commission. “We From one perspective, the U.S.

Brokerage 370
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RON is here to stay – Here’s what you need to know

Housing Wire

From understanding the importance of RON in the title industry and discovering the potential business benefits to learning how you can start offering RON closings to your clients, here’s the need-to-know info to get started. . Before you do anything, you should ask your underwriter whether they will insure RON closings at all.

Law 366
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First Citizens Bank to acquire Silicon Valley Bank

Housing Wire

The North Carolina-based First Citizens announced on Monday an agreement with the Federal Deposit Insurance Corporation (FDIC) to acquire all of SVB’s deposits and loans that were moved to an FDIC-created bridge bank after the collapse. “We the chief executive of First Citizens, said in a statement.