Tag Archives: HECM

The New York legislature has passed a bill that will require lenders to notify the state’s Department of Financial Services (DFS) and mortgagors of impending foreclosure actions against homeowners with reverse mortgages.

Are reverse mortgages still a viable equity alternative to selling and moving? A report finds out and explains more.

The CFPB found shortcomings in loss mitigation due diligence, HECM resolutions, and charging excessive late fees but also identified servicers’ resolutions of these issues.

The capital reserves in FHA’s Mutual Mortgage Insurance Fund have remained above the statutory minimum for the fourth consecutive year. Here are the opportunities and headwinds the FHA foresees for this portfolio.

In a move intended to speed up payments on claims, the FHA has revised certain requirements for servicers. Click through to learn more about these changes and what type of mortgages they would impact.

On Friday, the FHA released an update to its Reverse Mortgage appraisal policy. Hear from FHA Commissioner Montgomery had to say about the changes.

Real estate professionals are reporting that borrowers of color with good income and good credit are still finding it challenging to get loans to purchase homes. Editor’s Note: This feature originally appeared in the September issue of DS News.

Lender OneWest Bank has won a victory in a recent foreclosure case involving deceased borrowers and non-borrowing spouses, with a Florida appeals court reversed an earlier ruling in the case. The events surrounding the case of OneWest Bank, FSB v. ...

NewView Advisors, LLC, a financial services firm based in New York, has released a new look at the state of HECM mortgage-backed securities for the first quarter of 2018. HECM is the Federal Housing Administration’s (FHA) Home Equity Conversion Mortgage ...

California cities dominate the top 10 U.S. cities where reverse mortgages are most often used, according to a new study by LendingTree. California cities accounted for four of the top 10 slots in LendingTree’s report, but none of them managed ...