In the March rate update, we discussed why Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgages (HECMs) utilize two interest rates. The “expected rate” is unique to reverse mortgages and is calculated by adding […]
The U.S. Department of Housing and Urban Development (HUD)’s Office of Policy Development and Research is seeking public comment related to application and origination documents for the Federal Housing Administration (FHA)-backed Home Equity Conversion […]
Ellington Financial, the parent company of reverse mortgage industry lender and servicer Longbridge Financial, announced the successful closing of a new securitization backed by a pool of proprietary reverse mortgages initially originated by Longbridge. […]
California-based multichannel mortgage lender HighTechLending appointed reverse mortgage industry veteran Brian Boccia to serve as a senior account executive in its third-party origination (TPO) channel. He joins the company after prior experience at companies […]
While reverse mortgage volume in 2024 got off to a rocky start, new data that breaks out retail Home Equity Conversion Mortgage (HECM) endorsements versus wholesale production showed that it was the former that […]
More people seem to be aware of the potential utility that a reverse mortgage could provide for older homeowners, including as a tool to age in place and to provide greater cash flow in […]
Reverse mortgage industry veteran Tane Cabe recently left his position at Fairway Independent Mortgage Corp.’s reverse division to transition back into a role as a reverse mortgage broker. He joined C2 Financial’s reverse division […]
The PROGRESS in Lending Association released the names for its 2024 Innovations Award winners last week, including two vendors that are active in the reverse mortgage industry, according to an announcement. The organization recognized […]
As part of the budget request submitted to Congress by President Joe Biden and the White House, the U.S. Department of Housing and Urban Development (HUD) detailed some of its hopes for Ginnie Mae. […]
Guild Mortgage released its fourth-quarter and full year 2023 earnings report this week, showing that it narrowed its focus on purchase originations and increased its market share on the forward lending side, but it […]
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