EXCLUSIVE: Morris Schneider Wittstadt officially files for Chapter 11 bankruptcy

EXCLUSIVE: Morris Schneider Wittstadt officially files for Chapter 11 bankruptcy

Mark Wittstadt: Butler & Hosch sale, Dustin Johnson lawsuit severely impacted firm

What to expect when you’re expecting a CFPB administrative action

A deeper look at PHH ruling reveals how the bureau views enforcement

Monday Morning Cup of Coffee: Is housing strong enough to weather rate hikes?

Plus the mortgage bond outlook, the NYT joins the GSE investor struggle, and more
W S

News

Former LandCastle Title CEO’s luxury condo scheduled for foreclosure auction

Nat Hardwick’s condo at Atlanta’s St. Regis hits auction block Tuesday
Ben Lane
As the law firm he formerly managed is fighting for its life in bankruptcy court, a luxury condominium once owned by Nathan (Nat) Hardwick and allegedly purchased with ill-gotten gains is about to be auctioned off after the property was foreclosed on.
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Here are the top 10 rental markets for real estate investors

Texas dominates
Brena Swanson
While the inventory of foreclosed homes is quickly shrinking, there is still plenty of opportunity in real estate investments, particularly in these 10 cities, according to the same people who operate We Buy Ugly Houses.
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CUNA to CFPB: Extend TRID effective date to end of 2015

Complications, discrepancies justify change
Trey Garrison
The Credit Union National Association is asking the Consumer Financial Protection Bureau to push back its effective date for the Know Before You Owe mortgage disclosure rule to the end of the year. Do they have a point?
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EXCLUSIVE: Morris Schneider Wittstadt officially files for Chapter 11 bankruptcy

Mark Wittstadt: Butler & Hosch sale, Dustin Johnson lawsuit severely impacted firm
Ben Lane

In the bankruptcy filing, obtained exclusively by HousingWire, Mark Wittstadt, the firm's managing partner, said that the firm would have been able to survive the alleged embezzlement of $30 million from the firm's accounts. However, the subsequent lawsuit from PGA golfer Dustin Johnson and the disastrous sale of assets to now-defunct Butler & Hosch was too much for the firm to bear.


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Here’s the team that caused the Detroit foreclosure crisis

Op-Ed: You break it, you fix it
Brena Swanson
Detroit didn’t stumble into the foreclosure mess by itself, so it shouldn't be left to recover all on its own. So who is to blame? The government and lenders, but not the borrowers, according to an opinion piece in the Detroit News.
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Scammers targeting families seeking affordable housing programs

Identity theft, phony payments and fraud
Trey Garrison
Fraudsters are preying on low-income families who are seeking government-subsidized housing, setting up websites and help lines to get personal information and phony fees and rent deposits. It's ugly.
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Clear Capital: Housing the second half of 2015 not so hot

Reaffirms this is a "non-growth year"
Brena Swanson
This year is already halfway over, and according to a new market report from Clear Capital, the rest of the year doesn't not look too bright. "With a first full look of the spring buying season and six-month update to the forecast, our data through June confirms our initial projection that 2015 would be a non-growth year," said Alex Villacorta, vice president of research and analytics at Clear Capital.
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What to expect when you’re expecting a CFPB administrative action

A deeper look at PHH ruling reveals how the bureau views enforcement
Trey Garrison
In early June, Consumer Financial Protection Bureau Director Richard Cordray issued a decision in the first appeal of an agency administrative enforcement proceeding against a mortgage lender, and a deeper look shows how the regulator will proceed with such actions.
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Consumer spending flat in June

Americans hold fast even as rates increase
Trey Garrison
Americans' daily self-reports of spending averaged $90 for the month of June, essentially unchanged from the previous two months, despite the surge in homebuying brought on by worries about rising interest rates. Here's what's happening.
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Black Knight: 6.5M borrowers stand to benefit from refi

Half a million could save $500 a month
Trey Garrison
Between traditional and HARP programs, approximately 6.5 million borrowers could likely both qualify for and benefit from refinancing, according to the latest Black Knight Financial Services Mortgage Monitor Report. Want to know more?
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