News Topic: Reverse mortgages

The Federal Housing Administration's mortgage insurance fund now sits in a much better financial position, but officials say it's still not strong enough to make the premium cuts the industry wants. ... Read full article

The Federal Housing Administration should monitor reverse mortgage servicers more closely and track related data that would shed light on a rise in defaults, according to a Government Accountability Office report. ... Read full article

The Department of Housing and Urban Development will remove some barriers to government-insured condominium lending next month, including a post-crisis measure housing industry groups have long pressed for a change to. ... Read full article

Readers react to BofA defending reverse mortgage borrowers, support the Federal Reserve creating a real-time payments system, advocate for consolidating federal bank agencies and more. ... Read full article

The bank is siding with a growing list of groups, including the U.S. trustee, attorneys general from several states and consumers, who object to Ditech's plan to sell its reverse mortgage business. ... Read full article

The Michigan company said the loan — made to a borrower that plans to shut down its reverse mortgage business — has collateral. ... Read full article

University Bancorp gained a number of offices from Huron Valley Financial. It also hired lenders and staff with experience in reverse mortgages and wholesale lending. ... Read full article

The mortgage insurer’s annual actuarial report showed strength in the agency’s capital reserves even though losses in the “home equity conversion mortgage” program are still a problem. ... Read full article

As the Federal Housing Administration prepares to release its annual actuarial report sometime this month, the industry is questioning how the reverse mortgage program fits into the agency's future. ... Read full article

The Federal Housing Administration is making it easier for reverse mortgage servicers to submit insurance claims by expanding the types of supporting documentation it will accept on defaulted loans. ... Read full article

The Federal Housing Administration is mandating that lenders originating new reverse mortgages offer a second property appraisal in certain cases. ... Read full article

Brian Montgomery is examining why the reverse mortgage program has suffered big losses, but he said he opposes any changes that could make it harder for the elderly to stay in their homes. ... Read full article

Some continue to doubt there will be a premium cut, while others say there's no telling which way Brian Montgomery will go. ... Read full article

Mutual of Omaha Bank's purchase of Synergy One Lending will add reverse mortgages to its product line. ... Read full article

Recent developments in the Federal Housing Administration's Home Equity Conversion Mortgage program are making it easier for lenders to originate reverse mortgages to borrowers who want to buy a new-construction home. ... Read full article

The fundamental conclusion of the Federal Housing Administration’s fiscal year 2017 actuarial review is that the financial problems of the FHA Home Equity Conversion Mortgage program keep getting worse. ... Read full article

Brian Montgomery seems on his way to being confirmed to lead the Federal Housing Administration. But once he gets there, he may find it difficult to be as innovative as he was during his first stint as commissioner — particularly when it comes to reducing ... Read full article

The Federal Housing Administration's recent actuarial report has added more fuel to the fire over concerns about reverse mortgages, including their effect on the overall FHA insurance fund and a rise in foreclosures. ... Read full article