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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Reverse Mortgage Funding has filed for Chapter 11 bankruptcy, joining the ranks of companies felled by rising mortgage rates. So reports Bloomberg.
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.”