December 05, 2022
Reverse Mortgage Investment Trust Inc. received a Delaware bankruptcy court's approval Monday to tap into $13 million of unsecured bankruptcy financing, allowing it to keep making payments on its $25.57 billion portfolio of reverse mortgages as it restructures and winds down in Chapter 11.
December 02, 2022
Rising interest rates forced a reverse mortgage lender into Chapter 11, cryptocurrency platform BlockFi succumbed to the downfall of exchange FTX Trading, and FTX itself faced calls for an examination of its collapse. This is the week in bankruptcy.
November 30, 2022
New Jersey-based real estate investment trust Reverse Mortgage Investment Trust Inc. Wednesday filed for Chapter 11 protection in Delaware bankruptcy court with more than $10 billion in debt, blaming rising interest rates and other market disruptions.