Tag Archives: million

Fintech startup Orchard seeks $75 million in convertible funding

Orchard, a startup that offers cash to homebuyers upfront so they can purchase a new residence before selling their old one, is seeking to raise about $75 million, according to people with knowledge of the matter.  Led by Chief Executive Officer Court Cunningham, Orchard is attempting to raise the funds through a convertible note slated […]

Finance leaders help raise over $9 million for charity

Mortgage industry leaders have helped raise more than $9.4 million so far, by taking part in the 2022 Vinnies CEO Sleepout. On June 23, CEOs across the country, including a number from financial services companies, faced the cold for one night to highlight Vinnies’ efforts to overcome  homelessness and poverty in Australia. Last year, the […]

More renters and homeowners are missing payments Number of households missing rent or mortgage increase to 5.43 million in October, according to MBA

More than five million households failed to make their rent or mortgage payments in October, an increase compared to the same period of 2020, and a concern for mortgage servicers. According to the Mortgage Bankers Association‘s Research Institute for Housing America (RIHA), the number of households missing rent or mortgage payments increased from 5.33 million to 5.43 million between October of 2020 […]

Mortgage delinquencies continued to improve in November And the number of homeowners in forbearance have dropped below 1 million

The delinquency landscape continues to improve on a monthly basis, with the total delinquency rate in the nation falling to 3.59% in November, according to Black Knight’s November mortgage monitor published this week. In October, the analytics vendor clocked the national delinquency rate at 3.74%. The 15-basis point improvement continues to point to the effectiveness of initiatives taken by policy […]

Report – 1.5 million properties across the US at “extreme” risk

Another hot spot was Roseville in Sacramento, w. more than 34,000 homes out of nearly 45,000 surveyed had “some risk of being affected by wildfire over the next 30 years”. Roy Wright, a former head of risk mitigation at the Federal Emergency Management Agency, was quoted in the New York Times saying that the government […]

CRE firm looks to expand again with $170 million in new funding secured

“Commercial real estate is one of the largest industries on the planet and has somehow completely resisted the fintech revolution that has taken over virtually every other industry in the past decade,” Zar said. “We’ve been blessed with the right team, building the right products in a gigantic industry, and that’s the driver behind our […]

Angel Oak takes $43.5 million loss due to market volatility

Angel Oak took a net loss in the first quarter due to market volatility that affected the value of the mortgage-related assets on its books. The real estate investment trust, which invests in non-agency mortgages originated by its affiliates, took a net loss of $43.5 million, down from $3.1 million in the fourth quarter of […]

First American Financial acquires Mother Lode for $300 million

Read next: First American Financial wraps up acquisition, expands product line-up First American previously telegraphed its quest to buy Mother Lode and announced the deal would close this month during an earnings call. During the earnings call, DeGiorgio was asked if the acquisition would mean the company would take on additional debt. “So as of […]