Reverse mortgages

The Federal Housing Administration should monitor reverse mortgage servicers more closely and track related data that would shed light on a rise in defaults, according to a Government Accountability Office report.

Flagstar Bank expects to recover $1 million of its loan to defunct reverse mortgage lender Live Well Financial following the sale of the collateral that secured it.

Reverse mortgages are surging in Canada as more older people join the country's debt bandwagon.

Bankrupt mortgage servicer Ditech Holding Corp. cleared the way for the $1.8 billion sales of its businesses by agreeing to preserve some homeowner claims like the right to fix mistakes on their loans.

Live Well Financial CEO Michael Hild has been charged with misrepresenting the value of a bond portfolio in parallel actions by the U.S. Attorney's Office and the Securities and Exchange Commission.

Bankrupt mortgage servicer Ditech Holding Corp. saw its reorganization plan rejected on Wednesday after a federal judge ruled the company couldn't sell its mortgage-servicing rights and reverse-mortgage business free and clear of consumer claims.

Ginnie Mae followed through with plans to look more closely at secured debt ratios in its latest round of new and revised issuer requirements.

The Department of Housing and Urban Development will remove some barriers to government-insured condominium lending next month, including a post-crisis measure housing industry groups have long complained about.

Steeper rate declines contributed to a deeper quarterly net loss at Ocwen Financial, forcing it to extend its timeline for returning to profitability.

New York Attorney General Letitia James is monitoring how the bankrupt Ditech Holding Corp. handles borrower-sensitive issues like foreclosure proceedings, and is backing the involvement of a consumer creditors' committee.

The bank is siding with a growing list of groups, including the U.S. trustee, attorneys general from several states and consumers, who object to Ditech's plan to sell its reverse mortgage business.

Liberty Home Equity, a subsidiary of Ocwen Financial, is offering a new private-market alternative to Federal Housing Administration-insured reverse mortgages.

The more than $44 billion in new Ginnie Mae mortgage-backed securities that came to market in June marked the strongest month for the government bond insurer in more than two years.

After hiring half the laid-off staff from Live Well Financial, Open Mortgage plans to engineer a careful transition to operating as a larger-scale business.

Live Well Financial's creditors are seeking a court-supervised bankruptcy, but the mortgage lender is opposing the move, saying it can get more for certain assets if it sells them before filing.

Ditech Holding Corp. has entered into purchase agreements with New Residential Investment Corp. and Mortgage Assets Management, in which each would acquire certain assets in the company's Chapter 11 bankruptcy.

Roughly 50 of the more than 100 staff members Live Well Financial let go after it stopped funding loans will join Open Mortgage, a multichannel lender in expansion mode.

Issuance of mortgage-backed securities increased and came close to matching 2018 levels in the latest month tracked by Ginnie Mae.

The Michigan company said the loan — made to a borrower that plans to shut down its reverse mortgage business — has collateral.

Live Well Financial, a reverse and traditional mortgage lender that abruptly stopped originating on May 3, will lay off 103 employees, according to a Virginia Employment Commission filing.