Reverse mortgages

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.

The reverse-mortgage lender saw a quarterly loss but expects originations to increase 10% in the second quarter, as it attempts to address high-yield debt concerns.

The Federal Housing Administration removed housing finance firms from the list of permitted interested-party contributors in a new reverse-mortgage rule.

Texas Capital Bank wants to bring the Administrative Procedures Act into the case, but Ginnie Mae said the legal proceedings are outside its scope.

Combining the two property preservation firms brings specialized technology and capabilities that Five Brothers has to MCS and broadens the operations of both.

Reverse mortgage lender Finance of America posted a quarterly profit to end 2023, as it completed post-merger integrations and faced warnings of delisting from the New York Stock Exchange.

While a Fannie Mae study confirms that the vast majority want to age in place, people 60 and older don't want to use their residence as a piggy bank.

The company, which has paired down its operations to concentrate on reverse mortgages, got a similar notice in December.

Separately, the agency said it could develop a new type of reverse mortgage securitization, and another RMF development that could affect the bank emerged.