Remove 2009 Remove Clients Remove Insurance
article thumbnail

Why equity-tapping challenges may make reverse mortgages ‘inevitable’

Housing Wire

Lenders have rarely underwritten more than 100,000 federally insured ones in any fiscal year, and that hasn’t happened since 2009,” Lieber wrote. One good test for their utility is this: Do any financial advisers who pledge to act only in the best interest of their clients help members of their own family borrow in this way?”

Mortgage 459
article thumbnail

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.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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 482
article thumbnail

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 352
article thumbnail

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 370
article thumbnail

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 418
article thumbnail

FHLBank Pittsburgh Announces Leadership Changes

Appraisal Buzz

Previously, he was COO of FHLBank Pittsburgh, a position that he assumed in November 2009. Morgan in Hong Kong from 2007-2009, after serving that company in various capacities in New York for 22 years. In Hong Kong, he served as Senior Client Executive for J.P. Watson served as Managing Director at J.P.

Investing 221