The home lender, mostly owned by Starwood Capital, said in its filing that it has assets and liabilities of at least $10 billion each.
A representative for Barry Sternlicht-run Starwood cited “adverse trends in the mortgage industry.”
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MMG's Bodnar: We've Been Watching This Movie All Year Bill Bodnar of the Mortgage Market Guide breaks down the jobs report, why and how it came in above expectations, and what that means just days ahead of the Fed meeting.
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Reverse Mortgage Funding Files for Bankruptcy
Reverse Mortgage Funding has filed for Chapter 11 bankruptcy, joining the ranks of companies felled by rising mortgage rates. So reports Bloomberg.
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