Reverse

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....
In a data analysis that will certain create agita among reverse mortgage providers, U.S. seniors are overwhelmingly apathetic and confused about the value of reverse mortgages. This rejection of reverse mortgages is based on a survey conducted by the American College of Financial Services that... more
ReverseVision has announced that Texas-based mortgage lender Open Mortgage has launched its reverse mortgage wholesale operation on the RV Exchange (RVX) loan origination software (LOS)
ReverseVision has announced that Texas-based mortgage lender Open Mortgage has launched its reverse mortgage wholesale operation on the RV Exchange (RVX) loan origination software (LOS). Open Mortgage has been a home-equity conversion mortgage (HECM) retail lender since 2010, originating its... more
The Federal Housing Administration (FHA) is proposing a new rule that it claims will strengthen its Home Equity Conversion Mortgage (HECM) program
The Federal Housing Administration (FHA) is proposing a new rule that it claims will strengthen its Home Equity Conversion Mortgage (HECM) program.  The proposed rule includes changes and consumer protections designed to help ensure senior borrowers are sustained in their homes. These new changes... more
A 95-year-old woman is suing a pair of reverse mortgage companies for levying excessive fees on her after her home fell into foreclosure
A 95-year-old woman is suing a pair of reverse mortgage companies for levying excessive fees on her after her home fell into foreclosure. According to a report from The Eye, Retha Floyd of Washington, D.C., faced foreclosure in 2012 after falling behind on less than $2,000 in property taxes and... more