Alleged HECM Scheme Settled
The federal government has negotiated a settlement with a man who is accused of abusing the federally insured reverse mortgage program.
Ginnie MBS Issuance Up Despite Multifamily Slump
Even though apartment loan securitizations slipped last month at the Government National Mortgage Association, overall issuance moved higher.
FHA Endorsements Drop, Headed Lower
Monthly business turned lower at the Federal Housing Administration, and a further decline is likely. Meanwhile, delinquency deteriorated.
HECM Production Climbs from Year Earlier
Federally insured reverse mortgage production was barely changed on a month-over-month basis. But there was a nice year-over-year improvement.
LOS Adoption and Integration
Multiple mortgage service providers have recently integrated their offerings into a loan origination system. Meanwhile, a reverse mortgage LOS developer has landed two new lender clients.
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.