Reverse Mortgage Firms Agree to Settlements
A trio of reverse mortgage companies has agreed to settle allegations that they misled prospective borrowers with deceptive advertising.
Monthly HECM Production Diminishes
Government-insured reverse mortgage production retreated last month, though there were a few large producers that were able to lift volume.
2017 FHA Loan Limit Raised
Following last week's escalation in the conforming loan limit, the limit on mortgages insured by the Federal Housing Administration has been increased.
FHA Endorsements Fall, Could Go Lower
The monthly volume of residential loans endorsed by the Federal Housing Administration declined and could move even lower. A modest improvement was recorded for delinquency.
Major LOS Enhancements, Integrations
In addition to a host of integrations between various mortgage service providers and loan origination systems, major enhancements have been made to a major LOS.
FHA MMI Fund Improves 4th Consecutive Year
For the fourth year in a row, the capital position of the Federal Housing Administration's mortgage insurance fund has shown improvement.
Ginnie MBS Issuance Backs Off Record
Following an all-time high reached at the Government National Mortgage Association, monthly mortgage securitizations settled back to a still-robust pace.
Staffing, Servicing Reduced at Walter Investment
In addition to reducing the size of its residential loan servicing portfolio, Walter Investment Management Corp. cut the size of its staff.
Several Mortgage Events Left in November
There are several conventions, workshops and events which are related to the home-lending industry that take place during just the next few weeks.
Life-to-Date HECM Production Surpasses 1 Million
Last month's production brought to more than a million the number of reverse mortgages that have been insured by the federal government.