Reverse mortgages

Walter Investment Management Corp.'s share price has fallen below a threshold required by the New York Stock Exchange, but the exchange will give the company time to rectify the situation.

Walter Investment Management Corp. will close its Ditech subsidiary's Irving, Texas, office by the end of 2017, according to an internal memo. It's the first step in an effort to ultimately reduce Walter's physical footprint from 13 offices to as few as four.

The Trump administration's Justice Department was expected to be less aggressive in its pursuit of False Claims Act cases against the mortgage industry. Instead, its focus has shifted to Federal Housing Administration-insured reverse mortgages.

Home Point Financial Corp. sold its reverse mortgage lending business to Huron Valley Financial. Terms of the deal were not disclosed.

The Federal Trade Commission filed a civil suit against him in 2003. The Illinois Department of Financial and Professional Regulation suspended his loan originator registration in 2010.

Nationstar Mortgage is issuing its seventh securitization of nonperforming reverse mortgages.

Reverse mortgage lender Financial Freedom has agreed to pay $89 million to settle False Claims Act allegations involving unearned interest payments it received from the Federal Housing Administration.

Walter Investment Management Corp.'s first-quarter net income included a $42 million after tax gain from the sale of Green Tree Insurance Agency.

Walter Investment Management Corp. narrowed its fourth-quarter losses, as disappointed CEO Anthony Renzi called the nonbank lender and servicer's third consecutive annual loss "not acceptable."

CIT Group's exit from its commercial air and reverse-mortgage-servicing businesses cost it heavily in the fourth quarter.