In an effort to strengthen lending programs under the Federal Housing Administration, officials announced this week with the release of the Obama Administration’s 2015 fiscal year budget plan that a new, proposed administrative fee will apply to all FHA lenders.
A top executive at mortgage servicer Ocwen Financial Corp. went on the defensive in an interview this week about his firm’s growth strategies and relationships with companies that are coming under regulatory scrutiny.
Following the first-ever Treasury draw required by the Federal Housing Administration this year, the agency says it is back on stable footing and does not anticipate requiring Treasury assistance in fiscal year 2015.
A slowdown in February home price growth might signal near-term declines are on the way in 2014, according to a recent analysis from Clear Capital.
A lot has changed in just a few short months in reverse mortgages, and some of that change has been expected.
Walter Investment Management Corporation, parent company to Reverse Mortgage Solutions and Security One Lending, saw in the fourth quarter what it believes to be the bottom of the reverse mortgage business. But that doesn’t dampen the company’s outlook on growth.
Four surviving spouses of reverse mortgage borrowers filed a lawsuit this week against Department of Housing and Urban Development Secretary Shaun Donovan claiming they faced undue harm due to reverse mortgage statute.
Owning a home is still vastly less expensive than renting, netting Americans nearly 40% in savings among those who own their homes versus renting, according to online real estate hub Trulia.
Western metros reigned as the best cities for home sellers in 2014 with several California metros leading the charge, according to projections from online brokerage firm ZipRealty, Inc.
Housing and economic scholars believe the aging boomer population and fewer opportunities for fraud on the forward mortgage side have created an “ideal” situation for reverse mortgage fraud to thrive.