Imagine opening your front door one morning and hearing, "I bought your house. Move out." That's exactly what happened to Scott and Carrie Amab. They lost their home in a foreclosure sale, >> even though they had paperwork showing the debt had been cancelled years earlier. The culprit, a zombie mortgage, an old writtenoff loan that suddenly comes back to life.Here's how it works. Back in the early 2000s, a lot of people took out second mortgages. When the 2008 housing crash hit, the banks assumed many of th ...

Fifteen years after one family’s $98,000 second mortgage was canceled, a debt collector showed up demanding nearly $200,000. When the family didn’t pay, the company foreclosed. It wasn’t a mistake. It’s a business model.Read the Big Take ⬇️ https://t.co/Bgx2v54Hli ...

Fifteen years after one family’s $98,000 second mortgage was canceled, a debt collector showed up demanding nearly $200,000. When the family didn’t pay, the company foreclosed. It wasn’t a mistake. It’s a business model.Read the Big Take ⬇️ https://t.co/spq0jrgNo2 ...

Fifteen years after one family’s $98,000 second mortgage was canceled, a debt collector showed up demanding nearly $200,000. When the family didn’t pay, the company foreclosed. It wasn’t a mistake. It’s a business model.Read the Big Take ⬇️ https://t.co/Z1zGr5bI2t ...

Bloomberg News obtained a trove of internal records from one debt collector that reveals how the industry uses large bills and threats of foreclosure to blindside homeowners across the US. https://t.co/eZoEwdlkqO ...

Mortgage Relief Program Issues - State-led mortgage forbearance initiative aimed to delay payments for 90 days without penalty [2] - State agreement promised payment options without immediate lump sum repayment (balloon payment) after forbearance [3] - Homeowners report broken promises, including demands for full repayment and adverse effects on credit scores [3][4] - Some homeowners faced foreclosure threats due to mistaken enrollment in forbearance or payment issues [5] - One homeowner's credit score dropped by 120 points due to the forbearance issue [6] State Response and Resolution - State agency overseeing financial institutions received over 100 complaints [9] - The state claims to have resolved most complaints, but some homeowners are still awaiting resolution [9] - Governor's office states it's unacceptable for mortgage providers to not adhere to their commitments [8] Impact on Homeowners - Lowered credit scores hinder rebuilding efforts and access to loans for fire victims [7] - Homeowners feel they are in a position of begging for assistance [7][8]

In this situation.Lending freezes. Banks collapse. Millions of jobs are lost. Homes are foreclosed on.The United States economy crashes. Asset prices tank.So:a) This can't happenb) The case for BTC shoots from 0 to 1, as it'd be the only money aroundThanks for playing. https://t.co/oL5UYsyLdz ...

Financial Data and Key Metrics Changes - The company reported a total service revenue of $40.9 million for Q1 2025, an 11% increase compared to Q1 2024 [6][7] - Adjusted EBITDA for Q1 2025 was $5.3 million, reflecting a 14% increase year-over-year [6][7] - The company ended the quarter with $30.8 million in unrestricted cash [6] Business Segment Data and Key Metrics Changes - The servicer and real estate segment generated service revenue of $32.9 million, a 13% increase from Q1 2024, with adjusted EBITDA of $12 million, up 15% [11] - The origination segment reported service revenue of $8 million, a 3% increase year-over-year, with adjusted EBITDA remaining flat at $500,000 [13] - The corporate segment's adjusted EBITDA loss increased by $900,000 to $7.2 million, primarily due to nonrecurring benefits in the previous year [15] Market Data and Key Metrics Changes - The 90+ day mortgage delinquency rate was 1.3% in March 2025, slightly higher than the historical low of 1.1% in May 2024 [15] - Foreclosure starts increased by 25% in Q1 2025 compared to the same period in 2024, although they were 18% lower than in Q1 2019 [16] - The origination market faced challenges, with industry-wide origination volume decreasing by 1% year-over-year [20] Company Strategy and Development Direction - The company aims to diversify its revenue base and ramp up business won while maintaining cost discipline [21] - Focus is on accelerating growth in certain businesses that are expected to benefit from market tailwinds [21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the first quarter results and the company's positioning to benefit from potential increases in mortgage delinquencies and foreclosure activity [21] - Concerns were raised about the potential weakening of the U.S. economy, which could lead to higher loan delinquencies and foreclosure starts [19][21] Other Important Information - The company successfully closed a transaction on February 19 that significantly strengthened its balance sheet and reduced interest expenses, lowering long-term debt from $232.8 million to $172.5 million [9][10] Q&A Session Summary - No questions were asked during the Q&A session, and the call concluded with management expressing satisfaction with the first quarter performance [22][23]