Reverse Mortgage Business Acquired
The reverse mortgage unit of a Maryland-based home lender has been sold in a transaction that promises to create a top-tier reverse mortgage lender.
Finance of America Lending/Servicing/Staffing Down
Quarterly mortgage originations were slower at Finance of America Holdings LLC. Also diminishing was the lender's staffing and servicing portfolio.
LO Busted for Reverse Mortgage Fraud
A loan officer who originates reverse mortgages has been charged with committing mortgage fraud and not completing promised home repairs.
New Wholesaler Offers Conventional, Gov and Non-QM
A newly launched wholesale lending program will provide third-party originators with access to conventional products, government loans and reverse mortgages.
Ginnie Mae MBS Issuance Inches Up
Despite a year-over-year retreat in securitizations on behalf of the Government National Mortgage Association, there was a month-over-month bump.
Sale of Reverse Mortgages With Deceased Borrowers
The Department of Housing and Urban Development is selling reverse mortgages where the original borrowers in the transactions have died.
Weakening in Monthly HECM Endorsements
A superficial month-over-month decline was recorded for government-insured reverse mortgage production. Year-over-year results were positive.
Origination Systems Address HMDA, UCD
Upcoming changes to single-family data reporting and delivery have been addressed by providers of loan origination systems.
HUD Budget Includes New FHA Administrative Fee
The Department of Housing and Urban Development's proposed budget includes a new administrative fee on government-insured mortgages to fund technology updates.
FHA Originations Rising, Delinquency Tumbles
The monthly volume of home loans insured by the Federal Housing Administration turned higher, and a further increase is on the way. Delinquency, meantime, sank.