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Reverse Mortgage Daily

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.

Court Rules on Additional Non-Borrowing Spouse HUD Case

A U.S. District Court for the District of Columbia issued a Memorandum Opinion last week, ruling whether some initiatives undertaken by the Department of Housing and Urban Development (HUD) in response to the Bennett and Plunkett non-borrowing spouse cases could be considered arbitrary.

The 'New' New Reverse Mortgage

A month following the implementation of new rules for reverse mortgage borrowers, the industry is welcoming the change.

FHA Extends Condo Lending Guidelines Through 2016

The Federal Housing Administration has announced it will be extending its condo approval guidelines through 2016, the administration announced through mortgagee letter 2014-17 this week. 

FHFA Proposal Could Raise Mortgage Costs

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.

Arizona is Bright Spot in Reverse Mortgage Volume Slump

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.

Senate Bill Would Shield Companies from Falling Under CFPB Reign

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).