OneWest Unloading Reverse Mortgage Unit
OneWest Bank FSB hopes to unload a subsidiary that at one time was the second-biggest originator of reverse mortgages.
Ginnie Issuance at 6-Year Low
The last time business was this slow at the Government National Mortgage Association was before the financial crisis exploded.
Ocwen Unit Drives Reverse Mortgage Production Higher
For the second consecutive month, lenders lifted production of federally insured reverse mortgages higher. Ocwen Financial Corp.'s subsidiary was responsible for the improvement.
Walter Originations Down, Servicing Portfolio Up
Quarterly business was down at Walter Investment Management Corp., though the company increased the size of its servicing portfolio. Pre-tax earnings were a mixed bag.
Reverse Lenders Among Mortgage Firms Acquired
Among several mortgage company acquisitions that have recently closed are three reverse mortgage companies. A servicer and a commercial mortgage lender also changed owners.
Wholesale Leads Decline in Reverse Mortgages
The latest monthly report on reverse mortgage production was worse, and a 17 percent drop in wholesale originations was responsible for much of the deterioration.
FHA Originations Up, Refis Set to Rise
The latest monthly reading from the Federal Housing Administration showed an increase in new mortgage production, and another improvement appears to be ahead. FHA outstandings grew, but delinquency was worse.
Ginnie MBS Issuance Drifts Higher
The Government National Mortgage Association eked out a gain in new business last month thanks to residential activity. But securitizations sank from a year earlier.
Reverse Mortgage Lenders Lift Production
A healthy increase in government-insured reverse mortgage originations had new business at the highest level in five months.
HECM Networks Could Improve Market
The current marketplace for home-equity conversion mortgages leaves much room for abusing rate locks, and online third-party networks could be the solution.