A recent proposal recently put forth by the Federal Housing Finance Agency (FHFA), though it intends to protect Fannie Mae and Freddie Mac from another financial crisis, could lead to higher mortgage insurance premiums for thousands of borrowers, suggests a new report released this week.
Endorsements for Home Equity Conversion Mortgages (HECMs) may have hit a 14% annual decline in June on a national basis, but regionally speaking, Arizona has so far been a diamond in the rough, according to the latest data from Reverse Market Insight.
A bill introduced last month before a Senate subcommittee would shield certain financial institutions with less than $50 billion of total assets from examination and reporting requirements of the Consumer Financial Protection Bureau (CFPB).
Dropping from the previous month’s growth, both reverse mortgage retail volume and wholesale/broker volume were down in June, at 9% and 5.2% declines respectively, the latest Reverse Market Insight (RMI) report shows.
Twenty-six percent of 50 to 64-year-olds have not saved any money for retirement, according to a new Bankrate.com report. And the same applies to 14% of people 65 and older.
Nationstar Mortgage has laid off roughly 160 employees in its performing servicing division across three states, reports Inside Mortgage Finance.
In July 2014, issuance of Home Equity Conversion Mortgage (HECM) mortgage backed securities (HMBS) hit one its lowest monthly levels since 2009, however, recent program changes may bring some upside in the remainder of the year, according to recent commentary from New View Advisors.
Up to $79 billion in home equity lines of credit (HELOCs) originated during the housing boom of the mid-2000s could be at elevated risk of default in the coming years, suggests a recent study from TransUnion.
Findings of a reverse mortgage study conducted by researchers at the Ohio State University have been published, recognizing that there are some solutions available that can help lead to fewer tax and insurance defaults among borrowers.
After reporting an 18-month low in June, reverse mortgage volume has begun to make a slight comeback in July, both nationally and among several of the top-10 lenders, according to the latest report from Reverse Market Insight (RMI).