Retail, Wholesale HECM Channels Both Off in June
A monthly drop in federally insured reverse mortgage production impacted retail and wholesale channels alike. Overall business has since moved higher.
Rebates on HECMs Could Benefit Seniors
The Department of Housing and Urban Development won't confirm if rebate pricing can be used to offset closing costs on home-equity conversion mortgages.
Ginnie Mae Lifts MBS Issuance 4 Months in a Row
For four consecutive months now, issuance of Ginnie Mae mortgage-backed securities has strengthened -- though annual activity is still set for a steep decline.
Servicing Down, Earnings Worse at Walter
While Walter Investment Management Corp. was able to expand staffing and push production higher, its servicing portfolio was down and earnings deteriorated.
HECM Originations Remain Weak
Originations for the government's reverse mortgage program moved slightly higher last month but remained anemic by historical standards.
FHA Business Inches Up But Poised to Slip
Monthly government-insured mortgage originations move up but could retreat based on new applications. Delinquency on government home loans worsened.
Proprietary Reverse Mortgage Origination Sinking
Originators of proprietary reverse mortgages have seen business worsen for three months in a row. On the government-insured side, wholesale reverse lenders have experienced a bigger drop over the past year than retail lenders.
Ginnie MBS Issuance Up 3 Months in a Row
For the third consecutive month, Government National Mortgage Association issuance has increased. Overall residential and jumbo activity strengthened, while reverse mortgage and multifamily business weakened.
HECM Endorsements Sink to Lowest Level Since 2012
Federally insured reverse mortgage originations sank last month, falling to the lowest level since 2012. One company is maintaining a more than one-quarter market share.
Reverse Lender Accused of Misleading Advertising
A reverse mortgage lender has settled allegations that it used deceptive advertising in its direct mail marketing campaign.