Reverse mortgages

Mutual of Omaha Bank company Synergy One Lending is preparing to acquire certain assets of BBMC Mortgage, a national mortgage company and division of Bridgeview Bank, which will expand its Midwest footprint and improve its strategic direction.

The $571 million transaction is backed by 915 loans originated from 2002 and 2008 that Waterfall Asset Management acquired over eight years.

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.

ReverseVision and Stratmor Group are building a benchmark for Home Equity Conversion Mortgages that could help determine how well these Federal Housing Administration loans serve seniors.

Ex-Ginnie Mae President Joseph Murin is among several industry veterans joining Ainsworth Advisors, a consultancy run by former mortgage banker David Lykken and former Texas Capital Bank executive Gary Ort.

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

Finance of America Reverse is offering a new second-lien alternative to the Federal Housing Administration's Home Equity Conversion Mortgage that can be placed on a property with a pre-existing first-lien loan.

Private-label versions of the Federal Housing Administration's Home Equity Conversion Mortgage have spread to the point where a widely-used loan origination system has added technology to handle the product.

Ditech Holding Corp. posted a net loss of $40.5 million in its first full operating quarter since emerging from bankruptcy protection in February.

Quicken Loans subsidiary One Reverse Mortgage is rolling out a private-label alternative to the Federal Housing Administration's Home Equity Conversion Mortgage that offers higher loan limits and more flexible underwriting terms.