Reverse Mortgage Daily
On the same day Ben Carson testified before Congress about the dire need to upgrade the Department of Housing and Urban Development’s computer systems, its chief information officer resigned amid corruption allegations.
The Department of Housing and Urban Development’s recent changes to the reverse mortgage program have garnered mixed reviews from the industry, as some laud the rules for helping seniors preserve more equity, while others lament the fact that fewer borrowers may qualify.
Employee morale at the Department of Housing and Urban Development has fallen sharply under the leadership of Ben Carson, according to a new investigative report.
Servicing a troubled Federal Housing Administration-backed loan costs three times as much as a loan from government-sponsored enterprises (GSEs) — largely due to the FHA’s steep penalties for any missteps during the process.
Overall reverse mortgage endorsements slid slightly in December, driven primarily by sluggish wholesale performance.
There are several concerns among lenders when it comes to the decision to offer reverse mortgages, new research from the STRATMOR Group finds.
After years of steady growth, the stock market took a significant tumble last week, and the choppy seas could have many older homeowners re-evaluating their retirement plans. But it would likely take a major market collapse before Wall Street uncertainty led to boosts in overall reverse mortgage originations.
Some advocates and lenders have warned of a coming foreclosure crisis in Puerto Rico, but one top lender on the island says reverse mortgage borrowers rode out the recent storm much more easily than their forward counterparts.
Jeffrey Taylor, longtime reverse mortgage figurehead and a 35-year veteran of the financial services industry, passed away Tuesday in his home in Greensboro, N.C., RMD has learned.
The Supreme Judicial Court of Massachusetts sided with a reverse mortgage lender in a recent foreclosure case — but a leading legal publication says the industry shouldn’t necessarily celebrate.