HECM Production Surges to 22-Month High
It's been more than a year-and-a-half since the production of government-insured reverse mortgages was as strong as it was last month.
New FHA Business Climbs to 2-Year High
It's been almost two years since monthly government-insured mortgage originations were this strong. But despite an acceleration in new business, loan performance deteriorated.
Monthly MBS Issuance Slips at Ginnie
Aside from an up tick in reverse mortgage and multifamily activity, issuance of Government National Mortgage Association securities slowed last month. An overhaul of document custody policies is planned.
HUD Expands HECM Non-Borrowing Spouse Protections
Spouses of deceased borrowers on government-insured reverse mortgages who weren't on the original loan have been provided more protection.
Wholesale HECM Business Up Even As Retail Drops
Although monthly production slowed at retail originators of government-insured reverse mortgages, wholesale reverse mortgage lenders saw an up tick.
Borrowers Being Misled by Reverse Mortgage Ads
The results of a new study indicate that many prospective borrowers on reverse mortgages are being left with false impressions about the product.
FHA Originations Explode, Delinquency Tumbles
A surge in refinance activity helped push up Federal Housing Administration lending by nearly three-quarters on a month-over-month basis. Loan performance also made a big improvement.
Another Decline in HECM Production
For the fourth month in a row, originators of government-insured reverse mortgages have seen loan production slow. The decline was most apparent at Walter Investment Management Corp.'s reverse lending unit.
Retail HECM Originations Up Despite Wholesale Drop
Although wholesale lenders scaled back government-insured reverse mortgage originations, retailers made a gain. Urban Financial Group led monthly proprietary activity.
Mortgage Business Better at Walter
Home lending fared better at Walter Investment Management Corp. Servicing and company-wide earnings also saw an improvement.