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.
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.
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.
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.
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.
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.
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.
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 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.
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.