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Reverse Mortgage Daily

Reverse Mortgage Broker Volume Spikes, Offsetting Retail Losses

Total reverse mortgage growth rose 2.1% in February, boosted by double-digit wholesale gains and offset by retail loss, according to the latest Reverse Market Insights data.

RMS Keeps Top Spot in Reverse Mortgage Securities Rankings

Reverse Mortgage Solutions maintained the top position among the HECM-backed mortgage securities rankings for the first quarter of 2014, with a total issuance of $414.7 million during the quarter.

Realtors to FHA: Reduce Mortgage Insurance Premiums

The National Association of Realtors (NAR) is urging the Federal Housing Administration (FHA) to lower its mortgage insurance premiums, airing concerns that the high rates make home purchases “out of reach” for many qualified borrowers. 

Bankers: Mortgage Market Seriously Restricted by New Rules

Most banks believe new mortgage regulations will reduce credit availability and restrict lending, according to the American Bankers Association’s latest Real Estate Lending Survey.

OIG Says CFPB Needs Improvement on Supervision Front

The Consumer Financial Protection Bureau has plenty of room for improvement when it comes to the efficiency and effectiveness of its supervisory activities, says the Federal Reserve’s Office of the Inspector General in a new evaluation report. 

Foreclosure Starts Hit Lowest Level Since 2005

A drop in foreclosure starts and continued gains in home equity as housing prices remain stable are among the highlights of the Obama Administration’s March housing scorecard. 

CFPB Gives Guidance on Small Companies Complying with Real Estate Lending Rules

The Consumer Financial Protection Bureau this week provided guidance to small entities on complying with new rules regarding real estate lending. 

Reverse Mortgage Volume Drops 10 Percent in March, Future Threats Loom

Endorsements for Home Equity Conversion Mortgages (HECMs) declined 10.6% in March from the prior month, however, bigger volume drops may be on the way, according to the latest report from Reverse Market Insight (RMI).

Lenders Settle With HUD on Reverse Mortgage Allegations

Investigators with the Department of Housing and Urban Development recently entered into settlements with various lenders who they alleged allowed borrowers to obtain multiple reverse mortgages on more than one property.

Ginnie Mae Rules On New Fixed-Rate Reverse Mortgage Products

Ginnie Mae on Tuesday weighed in on lenders’ ability to securitize loan variations of the fixed-rate federally-insured reverse mortgage product.