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The U.S. Department of Justice has announced that Austin-based Financial Freedom has agreed to a settlement of more than $89 million to resolve charged that it violated the False Claims Act and the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) in connection with its... Keep Reading....
MetLife Inc. has announced that it is exiting the reverse mortgage business, and that Nationstar Mortgage LLC will be purchasing MetLife Bank's reverse mortgage servicing portfolio. The transaction is subject to certain regulatory approvals and other customary closing conditions. MetLife Bank will... more
Data released by the National Reverse Mortgage Lenders Association (NRMLA) shows that senior home equity increased by $30 billion in the fourth quarter of 2011. Seniors have $3.22 trillion in home equity available according to the most recent NRMLA/Risk Span Reverse Mortgage Market Index (RMMI)... more
The U.S. Department of Housing & Urban Development (HUD) has announced that it has indefinitely debarred three South Florida mortgage loan officers and a Pittsburgh title agent following their criminal convictions on charges they defrauded elderly borrowers, mortgage lenders and the Federal... more
As part of its continuing effort to help families find decent housing and to prevent future foreclosures, the U.S. Department of Housing & Urban Development (HUD) has announced more than $42 million in housing counseling grants to 468 national, regional and local organizations. As a result of... more