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Reverse Mortgage Daily

Is the Media Coming Around to Reverse Mortgages?

Reverse mortgage: last resort. Such is the mantra of many mainstream news outlets over the last two decades. But while the reverse mortgage industry has faced its share of challenges in terms of public perception over the years, for the first time — perhaps ever — mainstream media may be taking a lasting turn in favor of the product.

Walter Preps for More Servicing Scrutiny by Regulators

Walter Investment Management Corp., the parent company of two reverse mortgage originators and holder of billions of dollars worth of reverse mortgage servicing rights, is facing more scrutiny among regulators this week, the company disclosed.

Average Loan Age Hits Highest Point Ever

The weighted average loan age has reached its highest on record at 54 months. And while the average loan age differs significantly by credit score bucket, in general the average loan age has been rising steadily for the past nine years, according to the analytics division of Black Knight Financial Services’ (BKFS) latest Mortgage Monitor Report, based on data as of the end of August 2014. 

Mortgage Business Expanding as HELOC Volume Nets Five-Year High

Lenders have increased their origination of home equity lines of credit (HELOCs) by 21%, surging to a five-year high in loan volume, Bloomberg reports in a recent article.

Generation Mortgage to Exit Reverse Mortgage Originations

Generation Mortgage is winding down its reverse mortgage originations business including retail and wholesale operations, the company confirmed Wednesday.

Mass. Face-to-Face Reverse Mortgage Counseling Troubles Continue

Massachusetts reverse mortgage lenders and counseling agencies are continuing to rally support an en effort ensure a face-to-face counseling mandate does not take effect for all prospective reverse mortgage borrowers.

FHA Completes 'Milestone' for Lender Handbook

The Federal Housing Administration (FHA) is continuing to make strides toward developing a comprehensive forward mortgage policy handbook as the agency recently completed the first section of the handbook and launched a corresponding web page.

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.