Bankruptcy brings an immediate halt to ongoing business operations, creating a challenging environment for organizations to deal with their financial liabilities. For mortgage lender AmeriFirst Financial, this scenario became reality in early 2023. The lender is now seeking approval from a bankruptcy judge for a private sale of loans, hoping to use the proceeds to pay off two of its warehouse lenders. This action is among the strategies the lender is taking to manage its precarious financial position.
Below are the essential elements of the story:
• AmeriFirst Financial: Bankrupt mortgage lender seeking approval from bankruptcy judge to secure a private sale of loans
• Sale of Loans: Funds generated from the sale used to pay off two of the lender’s warehouse lenders
• Strategy: Action among their strategies to manage their financial position
You can read this full article at: https://www.housingwire.com/articles/bankrupt-amerifirst-financial-wants-court-to-green-light-private-sale-of-loans/(subscription required)
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