Reverse mortgages

American Advisors Group has released its jumbo reverse mortgage loan product to its wholesale network in California.

With the elderly population rapidly expanding as baby boomers enter retirement age, a task force from the Bipartisan Policy Center is calling on the federal government to spur renewed investment in affordable housing for seniors.

Lenders that sell both forward and reverse mortgages must carefully consider how their products are offered to older borrowers to avoid confusion that could lead to accusations of financial abuse.

The Department of Housing and Urban Development issued a proposal Wednesday to codify recent changes to its reverse mortgage program and to provide additional protections for seniors, including a cap on annual interest rate increases.

Walter Investment Management Corp. sank into a deeper $172.7 million net loss during the first quarter, as lower interest rates caused pressure on the company's mortgage servicing rights valuation.

Borrowers of "forward" Federal Housing Administration mortgages are unfairly being expected to backstop the disparate mission and risks of the Home Equity Conversion Mortgage program.

CIT Group, the commercial lender run by John Thain, found a material weakness in the accounting of a mortgage business, causing the company to delay the filing of its annual report to the Securities and Exchange Commission.

Nationstar Mortgage is in the market with the second rated securitization of what are nonperforming Home Equity Conversion Mortgage loans, according to Moody's Investors Service.

Bank of New York Mellon has become a big believer in reverse mortgages, particularly home equity conversion mortgages insured by the Federal Housing Administration.

Home Equity Conversion Mortgage servicers have received an additional three months to explore loss mitigation options when borrowers or their spouses have difficulty paying their property taxes and insurance.