Senior Financial Inc., Richmond, Va., has announced an agreement to acquire Liberty Reverse Mortgage Inc., Rancho Cordova, Calif., for $50 million (plus a possible added performance-based financial consideration).Senior Financial is a wholly owned venture investment subsidiary of Genworth Financial Inc., a mortgage insurer based in Richmond. "Liberty will allow Genworth to offer senior market consumers new products that provide liquidity, retirement income, and enable funding of their retirement safety net," said Pam Schutz, executive vice president at Genworth. Genworth can be found on the Web at http://www.genworth.com.
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The Federal Housing Administration, the Department of Veterans Affairs and the Federal Housing Finance Agency have started gathering data and analyzing how climate risk will impact the housing ecosystem.
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A special committee is exploring any possible structural "strategic alternatives," which would be aimed at increasing shareholder value, the real estate investment trust said.
April 22 -
An insurance-indexed debt-to-income ratio could help mitigate borrowers' rising premiums, and help maintain a healthy servicing portfolio, experts said.
April 22 -
But the number of properties whose mortgage is more than 90 days late is at its lowest since 2006, ICE Mortgage Technology said.
April 22 -
Industry leaders expressed a high degree of satisfaction with technology in use, but also said a product's cost is the most important criteria for them when partnering with vendors, according to Fannie Mae research.
April 22 -
The top five loan officers produced an average of 628 loans in 2023.
April 22