AmeriFirst Financial, Inc.

  1. August 14, 2024

    AmeriFirst Creditors Cleared To Pursue $10M Clawback Suit

    AmeriFirst's unsecured creditors can seek repayment of $10.3 million they alleged were fraudulently transferred, a Delaware bankruptcy judge ruled Wednesday, saying there are open questions about a secured lender's influence over the defunct mortgage services provider leading up to its Chapter 11 bankruptcy.

  2. January 10, 2024

    AmeriFirst Backs Lender In Creditors' $10.3M Clawback Bid

    A Delaware bankruptcy judge was asked Wednesday to decide if a proposed lawsuit against a lender for bankrupt mortgage servicer AmeriFirst Financial Inc. comes down to "buyer's remorse" or whether there's a plausible claim the lender took control of the company and steered it into Chapter 11 at the expense of unsecured creditors.

  3. December 18, 2023

    AmeriFirst DIP Faces Continued Pushback Despite Tweaks

    Changes to mortgage company AmeriFirst Financial Inc.'s proposed debtor-in-possession loan don't go far enough, unsecured creditors and the Office of the U.S. Trustee told a Delaware bankruptcy judge Monday, casting doubt on the loan's necessity.

  4. December 06, 2023

    AmeriFirst Lender Says Loan Suit Is 'Baseless' Rehash

    A lender to bankrupt mortgage provider AmeriFirst Financial Inc. told the Delaware bankruptcy court a proposed lawsuit from the unsecured creditors committee is rehashing "baseless claims."

  5. November 21, 2023

    AmeriFirst Punts On Final DIP After Creditors File Release Suit

    AmeriFirst Financial agreed Tuesday to delay a final ruling on its bankruptcy financing package after unsecured creditors in its Chapter 11 opened an adversary proceeding alleging the case was set up to exclusively benefit lender Reverence Capital Partners, which creditors say intentionally "destroyed" the debtor's business.

  6. November 17, 2023

    Fannie Mae Objects To AmeriFirst Loan Servicing Sale 

    Fannie Mae has asked a Delaware bankruptcy judge to reject mortgage lender AmeriFirst Financial's proposal to sell $8 million worth of servicing rights to Fannie Mae loans, saying the deal can't go through until it signs off.

  7. November 06, 2023

    Del. Judge Orders Mediation In AmeriFirst Spat With Creditors

    A Delaware bankruptcy judge on Monday instructed mortgage lender AmeriFirst Financial and its creditors to engage in mediation this week to try to hash out an agreement over a financing order that the creditors say would prevent them from challenging releases of claims against the company's Chapter 11 lender.

  8. October 26, 2023

    Kasowitz Can't Represent Creditors In AmeriFirst Ch. 11

    Kasowitz Benson Torres LLP can't be retained as special litigation counsel for the unsecured creditors committee in the Chapter 11 case of mortgage lender AmeriFirst Financial after a Delaware judge ruled Thursday that the firm formerly represented the debtor in legal matters involving a creditor.

  9. October 20, 2023

    Del. Judge Urged To Move AmeriFirst Ch. 11 To Arizona

    A Delaware bankruptcy judge was asked Friday to transfer the Chapter 11 case of mortgage company AmeriFirst Financial to Arizona, with unsecured creditors arguing that a Delaware lender had taken control of the Arizona company's bankruptcy.