Impac Mortgage Holdings Fires 47% Of Its Employees After Posting $13 Million Loss In 3rd Quarter Of 2022 Impac Mortgage Holdings had a $13 million loss in the third quarter of 2022. This is leading leadership to adopt a defensive posture. They need to try and navigate one of the most challenging markets in decades. […]
Impac Mortgage Reports $13.5 Million Loss In Second Quarter. Company Blames Lack Of Housing Inventory Another mortgage lender is reporting taking a hit in their profit margins. Add Impac Mortgage Holdings to the list of mortgage lenders that posted a loss in the second quarter of 2022, As a result, Impac have opted to break with the […]
Ginnie Mae Gives NewDay USA and Nations Lending The Boot After Accusations Of VA Loan Churning Ginnie Mae is following through with its threats to punish lenders for aggressively targeting servicemembers and military veterans. The GSE threatened lenders with expulsion from its primary mortgage bond program if the lenders do not address their abnormally high complaints of predatory lending and […]
JPMorgan Chase Claims That FHA Loans Are Government Backed Subprime Loans FHA loans that were originally intended to give first-time buyers easy access to mortgages are being compared to the very loans that contributed to the housing crisis. Kevin Watters, CEO of Chase Mortgage Banking told CNBC, “FHA requirements are down to a 520 FICO […]
Now Yves Smith Endorses The Shady Practices Of A CRA Operator I have to wonder if Yves Smith is inhaling something toxic. Her latest article is even crazier than her last. Her last blog was a gushing endorsement of Lisa Epstein of Foreclosure Hamlet fame. Epstein ran unsuccessfully for Palm Beach County Clerk. In that piece, […]
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