Mortgage servicer unloads its Champion Mortgage portfolio to Mortgage Assets Management in order to focus on its core origination and servicing segments.
Read More »Senior Housing Wealth Reaches Record $7.82 Trillion
The Reverse Mortgage Market Index rose to a new peak in Q3 2020. Click through to learn what this means for the industry.
Read More »HECM Volume Up 37.5% in 2020
Home Equity Conversion Mortgage (HECM) endorsements were up 15.1% year-over-year in December to 4,097 loans, according to new data from Reverse Market Insight. For calendar year 2020, HECM volume recorded an annualized increase of 37.5% to 44,661 loans. Eight of ...
Read More »Working to Prevent HECM Foreclosures
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.
Read More »Why Reverse Mortgages Keep Moving Forward
Are reverse mortgages still a viable equity alternative to selling and moving? A report finds out and explains more.
Read More »CFPB Report: Loss Mit Problems and Servicer Solutions
The CFPB found shortcomings in loss mitigation due diligence, HECM resolutions, and charging excessive late fees but also identified servicers’ resolutions of these issues.
Read More »Seeking the Right Balance
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.
Read More »FHA Issues New Requirements
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.
Read More »Montgomery Addresses Appraisal Inflation in Reverse Mortgages
On Friday, the FHA released an update to its Reverse Mortgage appraisal policy. Hear from FHA Commissioner Montgomery had to say about the changes.
Read More »The Thin Red Line
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.
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