Reverse mortgages

Finance of America is buying Onity's MSRs and loan pipeline in this niche as PHH retains its role as a subservicer and remains involved in buyout securitization.

Home price modeling changes hurt FOA's third-quarter interim results but it was in the black between January and September on a continuing operations basis.

The former American Fidelity Financial Services LO helped others scam homeowners out of their loan proceeds for shoddy or nonexistent home repairs.

One loan sale is planned for Wednesday, while the other is tentatively happening in September. All-in-all, the two offerings are worth close to $1 billion.

Prior to the earnings release, Finance of America announced it was buying out Blackstone's equity stake in the mortgage lender for $80 million.

Proprietary reverse loans are typically available to a larger range of borrowers and come with higher loan limits than the Home Equity Conversion Mortgage.

Much of the increase came from the wholesale channel, where margins were thinner, leaving them flat on for the origination unit on a sequential quarter basis.

Longbridge Financial's Christopher Mayer discusses the mortgage industry's opportunities in today's market and its shortcomings when serving older Americans.

The bank said it will appeal the judge's ruling, which it suggested would have a chilling effect on lenders participating in such government programs.

The company is a leading player in the primary and secondary markets for government-backed reverse mortgages and also has been developing proprietary products.

A year that saw businesses express growing interest in the segment ended with a more subdued outlook due to interest rate trends, according to a new report.

The company plans to increase investments in its proprietary products as well as marketing initiatives with expectations of originations growth next year.

Longbridge asserts its rival is unfairly funneling business via a number of websites containing fake reviews allegedly run by Mutual of Omaha itself.

James B. Nutter & Co., after its legal victory over the Justice Department in July, agreed to a $2.4 million False Claims Act settlement over poorly underwritten reverse mortgages.

The CFPB changed how reverse mortgage lenders can appeal to older Americans. Their value is now pitched mainly through direct education, rather than through Tom Selleck.

Guild Mortgage is now referring to its reverse loan offerings, including FHA and private-label jumbo, as Flexible Payment Mortgages.

A summary judgment from a Missouri district court denied the government from seeking federal damages for violations of the False Claims Act following alleged underwriting misconduct by the lender.

The agency is looking to improve liquidity for its reverse mortgage-backed securities issuers who have to buy back loans.

Staffing cuts affected employees in the reverse-mortgage lender's retail and corporate units, the company confirmed.

Feds say Chicago businessman Mark Steven Diamond defrauded at least 80 victims and caused at least $6 million in losses.