Subscribe to the print edition of National Mortgage Professional MagazineSubscribe to our RSS feedFollow us on TwitterGet daily updates via emailJoin us on Facebook

Reverse Mortgage Daily

OIG: FHA Missed Opportunities to Help Boost Mortgage Insurance Fund

Lenders generated an estimated $428 million in gains from the sale of Ginnie Mae securities related to modified defaulted Federal Housing Administration (FHA) loans in 2013.

Dave Cesario—You Will Be Missed

The reverse mortgage industry has lost a great advocate for the product, but more importantly a great friend to many people — including the team here at RMD.

MBA: CFPB Consumer Complaint Database a Threat to Lenders

The Mortgage Bankers Association (MBA) is lending its voice to the growing opposition against the Consumer Financial Protection Bureau’s (CFPB) proposed Consumer Complaint Narrative Database as the agency continues to solicit comments on its initiative.

Ginnie Mae to Roll Out New Issuer Requirements, Policies

After just short of two months since being sworn in as the new chief for the Department of Housing and Urban Development, Secretary Julián Castro is outlining plans to rework the way Ginnie Mae operates.

HUD Names New FHA Reverse Mortgage Servicing Contractor

Oklahoma City-based Novad Management Consulting is the newest loan servicing contractor for Home Equity Conversion Mortgages (HECM), among other single-family Federal Housing Administration (FHA) loans, as of the end of September. 

Maverick Funding Eyes Wholesale Reverse Mortgage Growth Post-Acquisition

In the midst of an acquisition by mortgage startup Home Point, top-20 reverse mortgage lender Maverick Funding is ramping up its wholesale division and is targeting growth specific to reverse mortgage originations. 

Reverse Mortgage Securities Signal Short-Term Volume Growth

After hitting a low monthly total in July, Home Equity Conversion Mortgage-backed securities (HMBS) have rebounded in August to their third-largest monthly issuance this year, according to the latest commentary from New View Advisors.

Texas Upholds Strong Reverse Mortgage Record, Zero Enforcement Actions

Despite coming with its own set of reverse mortgage quirks, such as having been the last state to approve the Home Equity Conversion Mortgage for Purchase, the state of Texas is upholding a strong record overall.

Ocwen Earns Top Marks for HAMP Compliance in New Treasury Report

Ocwen Financial Corporation (NYSE: OCN) received top ratings for how it manages compliance under the federal Home Affordable Modification Program (HAMP), a boon for the company following recent downgrades to its mortgage servicing quality.

DOJ Launches New Crusade Against Elder Financial Fraud

Elder financial fraud rakes in nearly $3 billion every year, wiping out many families’ retirement income streams. In an effort to further prevent and combat elder abuse and financial exploitation, the U.S. Department of Justice (DOJ) has recently launched the Elder Justice website.