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While reverse mortgages allow older homeowners the opportunity to draw on home equity with minimal risk, problems arising from flaws in program structure are causing headaches for borrowers and issuers alike, according to recent reports.
February 10
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A decline in jumbo products led to overall tightening, as conforming and government-sponsored loan categories measured in the Mortgage Bankers Association's index were unchanged from December.
February 9
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Both Zillow and Black Knight Optimal Blue recorded significant increases, but the Freddie Mac survey only reported a 3-basis-point rise.
February 9
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The regulator said it is a violation of anti-kickback rules to present lender results based on their payment to the platform rather than criteria that serves the potential borrower.
February 9
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The company's mortgage operations posted a $24 million pretax profit thanks to servicing, while loan production saw a loss.
February 8
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The company's controlling shareholder wants to replace former HUD Deputy Secretary Pam Patenaude on its board with title company executive Steve Ozonian.
February 8
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The publicly traded acquirer is looking to grow market share by selectively purchasing companies to beef up its influence in certain regions.
February 8
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Refinances surged 18% compared to the prior week and purchases 3%, but growing loan amounts signal still-limited affordability.
February 8
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Virginia and Montana both introduced new bills in the past month, potentially joining several other states in enacting policies that would increase business opportunities for lenders.
February 7
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Adding pricing considerations tied to debt-to-income ratios, which frequently fluctuate, are destined to create problems with borrowers and internal operations, the Mortgage Bankers Association wrote.
February 7
