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Reverse

Finance of America Reverse LLC has launched HomeSafe Select, a proprietary HELOC reverse mortgage loan offered exclusively by Finance of America Reverse LLC and its approved partners
Finance of America Reverse LLC has launched HomeSafe Select, a proprietary HELOC reverse mortgage loan offered exclusively by Finance of America Reverse LLC and its approved partners. HomeSafe Select is a non-FHA adjustable-rate mortgage (ARM) that offers an initial closed-end draw of 25 percent of... Keep Reading....
Freddie Mac reported comprehensive income of $2.6 billion during the third quarter, up from $2.4 billion in the second quarter but down from the $4.7 billion reported in the third quarter of 2017
The Federal Housing Administration (FHA) has revised requirements for Home Equity Conversion Mortgage (HECM) servicers when they assign FHA-insured reverse mortgages to the agency for claim payment.    In the new requirements, FHA-approved HECM servicers can use alternative supporting documentation... more
NewDay USA has announced that former Maryland Gov. Bob Ehrlich, a longtime supporter of U.S. military veterans and their families, has joined the company’s Board of Advisors
NewDay USA has announced that former Maryland Gov. Bob Ehrlich, a longtime supporter of U.S. military veterans and their families, has joined the company’s Board of Advisors. The son of a U.S. Marine and Korean War veteran, Ehrlich has had a long and distinguished career in public service and has... more
While the average downpayment fell during the third quarter, some states have a lower average than others
The Federal Housing Administration (FHA) will now requiring lenders originating new Home Equity Conversion Mortgages (HECMs) to provide a second property appraisal in cases where the agency believes there could be inflated property valuations.   According to the FHA, the new policy is designed to... more
Housing wealth for homeowners 62 and older grew to $6.9 trillion during the second quarter, according to data from the National Reverse Mortgage Lenders Association (NRMLA)/RiskSpan Reverse Mortgage Market Index (RMMI). This represents a $130 billion in senior home equity from the first quarter.  ... more