Reverse mortgages

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.