MBS Issuance Picks Up at Ginnie
Increased guarantees of mortgage-backed securities by the Government National Mortgage Association was driven last month by stronger residential activity, as multifamily issuance was lower.
Reverse Originations Off as Lender Count Holds
Government-insured originations by reverse mortgage lenders slowed in April. Business was better, however, than during the same month last year, while the number of active lenders in the sector moved slightly higher.
HUD Chief Says HECMs Hurt FHA's Finances
The Mutual Mortgage Insurance Fund, which could require a nearly $1 billion bailout, would be in much better shape if it weren't for home-equity conversion mortgages, according to the head of the Department of Housing and Urban Development.
Walter Grows Reverse Business With Acquisition
Walter Investment Management Corp. is carving out its place in the reverse mortgage business with an aggressive acquisition strategy. The latest investment involves mortgage servicing rights. Staffing at the company has surged by 2,200 employees during the past six months.
Multifamily Issuance at Ginnie Up Despite Overall Slump
The volume of apartment loans securitized for the Government National Mortgage Association jumped last month and has improved from a year ago. But residential securitizations slowed -- pulling down overall activity.
Reverse Production Jumps to Highest Level Since 2011
It has been almost two years since the Federal Housing Administration has endorsed as many home-equity conversion mortgages as it did last month. A unit that was acquired by Ocwen Financial Corp. has ascended to the top spot and turned in record monthly production.
Ocwen Acquires Biggest HECM Lender
Ocwen Financial Corp. has completed its acquisition of a reverse mortgage lender that originated more government-insured reverse mortgages last month than any other company.
2013 Conference Calendar Filling Up
There are no shortage of topics to cover at upcoming mortgage industry events. Among subjects to be discussed are cyber-security, distressed asset management and regulatory compliance. Bankruptcies and reverse mortgages are also on the agenda. Dallas trailed Las Vegas as the most popular host city.
FHA Lifts New Business
Federal Housing Administration loan production picked up during the first month of 2013. An even bigger improvement was reported compared to a year earlier. Serious residential delinquency ticked up.