Reverse mortgages

Walter Investment Management has reached a settlement with federal authorities over reverse-mortgage practices at a business unit.

Home Equity Conversion Mortgages have gotten a bad rap, but they're often a better alternative to home equity lines of credit for both borrowers and lenders.

The Department of Housing and Urban Development's policies governing the Home Equity Conversion Mortgage program failed to detect instances where borrowers failed to comply with residency requirements, according to a report.

Walter Investment Management in Tampa, Fla., said its second-quarter loss widened, as it recorded a goodwill impairment charge in its reverse mortgage division.