New FHA Premiums Released
New mortgage insurance premiums that take effect next month on loans insured by the Federal Housing Administration have been released. Annual premiums for reverse mortgages have increased.

The new mortgage insurance premium structure was outlined in Mortgagee Letter 2010-28 from the U.S. Department of Housing and Urban Development.

HUD was granted authority to increase annual M.I. premiums through Public Law 111-229, which was signed by President Barack Obama on Aug. 12.
read full story

Purchase Activity Drags Down FHA Volume
Origination of federally insured mortgages was lower in July. An increase in refinance and reverse mortgage production was not enough to offset a drop in purchase endorsements. But a surge in refinance applications is likely to boost overall business this month.

In-Depth Look at New Rules
A dizzying number of mortgage rules issued this week impact disclosures, compensation and servicing. Proposals were also made for reverse mortgages. Here is a comprehensive review of the rules.

ARM, Reverse Rules Released
WASHINGTON -- In just a few months, mortgage lenders will be required to provide new disclosures for adjustable-rate mortgages. New disclosure requirements for reverse mortgages are also on the horizon.

MetLife Top Reverse Wholesaler
For the second month in a row, MetLife Bank's wholesale division has closed more reverse mortgages than any other reverse mortgage wholesaler. But factoring in retail volume, another lender has dominated the top spot most of this year.

Reverse Lenders Manage Another Gain
It was only the second time in the past eight months that U.S. lenders improved reverse mortgage production. Volume at the second-biggest retail lender was less than half of No. 1's.

Slight Gain in Quicken Production
As Quicken Loans Inc. completes its move to the Motor City, quarterly retail production edged higher. Quarterly reverse mortgage originations were also higher.

MetLife Raises Quarterly Originations
Reverse mortgage production picked up from the first quarter at MetLife Home Loans, as did the volume of traditional mortgage fundings. But overall business tumbled by more than half from a year ago.

Great Month for FHA
Government-insured originations improved last month, though volume is likely to turn lower this month. Reverse mortgage activity improved for the first time in six months, and overall delinquency continued lower.

Unlicensed Originations Lead to Actions Against 3 Firms
Three firms recently faced actions by two states over unlicensed origination activity -- with one of the companies being required to fork out nearly $600,000. One firm agreed to stop originating reverse mortgages without state approval.