Bankruptcy

The long-troubled lender owes at least $40 million to mortgage industry counterparties and tax collectors, it said.

Proceeds from the sale of assets to Oaktree Funding would be used to pay off debt to warehouse lenders

The company in a court filing suggests it has funds available for its unsecured creditors, led by a private equity firm, major banks and a servicer.

The company had been the fifth most active Home Equity Conversion Mortgage originator year-to-date through October.

The declaration comes less than a week after the firm laid off 471 workers, or over 75% of its staff, because of significant operating losses and cash flow challenges.

Talks between original holders and a law firm over potential securities fraud litigation did not pan out, and trustee UMB NA has canceled all the bonds.

The delinquency rate on regional mall commercial mortgage-backed securities was 22.9% in February, the highest of any real estate category, according to Moody’s

The Federal Reserve warned of significant risks of business bankruptcies and steep drops in commercial real estate prices in a report published on Friday.

A real estate firm focused on gentrifying neighborhoods is showing cracks after a group of its apartment buildings in New York’s Upper West Side and Harlem filed for bankruptcy.

The three-year loan will boost the hotel-centered REIT's dwindling cash reserves battered by the COVID-19 global impact on travel.

The three companies agreed to pay a total of $74 million in remediation.

If the tally included loans with some form of payment relief, the rate would be close to 8%.

Democrats Elizabeth Warren of Massachusetts and Brian Schatz of Hawaii have sent a letter to CEO Charlie Scharf demanding a response to news reports that the bank has been placing borrowers into forbearance plans without their consent.

Moody's says anchor stores like J.C. Penney and Neiman Marcus represent only a small portion of CMBS retail exposure, but their deteriorating fortunes will hasten the decline in credit quality of CMBS-held loans backed by Class "B" and "C" malls.

Mortgages taken out to fund business operations can now be modified in bankruptcy. That’s a relief to borrowers — particularly with business failures expected to increase as the pandemic drags on — but a possible headache for banks and investors that hold the loans.

A bankruptcy judge will be asked to sign off on the sale of BHF's Shoreline portfolio in Chicago and will hold an initial Chapter 11 hearing on another portfolio.

A bankruptcy court judge denied a lender's motion to foreclose on properties controlled by an Austin real estate investor. But the judge then issued a warning, saying an exit plan better be ready by Feb. 2.

In a case highlighting a fraud risk for mortgage companies and other financial institutions, two Garden State residents were sentenced for using fake money orders attempting to fraudulently discharge debts.

The owners of the former 3M corporate campus filed under Chapter 11 of the Bankruptcy Code, which cancelled a scheduled foreclosure auction of the Austin property.

Elizabeth Warren rolled out a plan to restore bankruptcy protections repealed in a 2005 law championed by Joe Biden, including those that involve mortgage lending.