May Slows for Retail, Wholesale HECM Originators
Retail and wholesale originators of government-insured reverse mortgages suffered a slight setback in May, and the month proved to be no more productive for proprietary lenders.
Res Issuance Overcomes Multifamily Drop at Ginnie
Although issuance of Ginnie Mae securities backed by multifamily loans took a tumble last month, residential activity more than made up the difference.
FHA Delinquency Surges
The rate of past-due payments on government-insured home loans surged nearly 70 basis points despite a decline in the foreclosure rate. New government loan production softened.
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.