Reverse mortgages

When data doesn't tell the whole story about untapped market opportunities, mortgage executives must draw on their personal experiences and local expertise to craft unique strategies to reach new borrowers.

The Federal Housing Administration's recent actuarial report has added more fuel to the fire over concerns about reverse mortgages, including their effect on the overall FHA insurance fund and a rise in foreclosures.

The impending bankruptcy of Walter Investment Management Corp. should not affect its subsidiary Ditech Financial's capability to service securitized mortgages, Fitch Ratings said.

The Federal Housing Administration was battered by losses this year from reverse mortgages, casting doubt on whether the agency will adopt an Obama-era proposal to reduce mortgage insurance premiums.

Walter Investment Management Corp. is looking to file for bankruptcy protection by Nov. 30, after lining up $1.9 billion of debtor-in-possession warehouse financing.

Ocwen Financial Corp. lost $6.1 million in the third quarter, as pretax losses from its origination business outweighed any profits generated from the servicing side.

The sale of the struggling Financial Freedom unit to an undisclosed buyer would continue CIT's strategy of shedding noncore business lines.

The Federal Housing Administration is extending processing hours for reverse mortgages this weekend to accommodate a rush to get loans approved ahead of rule changes coming Oct. 2.

Reverse mortgage lenders are stretched thin to the point of having to turn borrowers away as seniors rush to get ahead of Home Equity Conversion Mortgage changes that will raise fees and lower loan limits.

Nearly half of the properties are in New York (30.3%), New Jersey (10.4%) or Florida (8.7%), states that require a court to sign off on a foreclosure, a lengthy process that could affect the timing of payments.

A federal judge awarded treble damages totaling $296 million in a False Claims Act case alleging Texas lender Allied Home Mortgage defrauded the Federal Housing Administration mortgage program.

Wells Fargo has made more layoffs within its Fort Mill mortgage operation, according to a notice filed with the state of South Carolina.

The agency will charge higher upfront premiums for most Home Equity Conversion Mortgage borrowers while lowering the annual premium.

The year opened with hopes that regulatory and enforcement pressures would abate for the mortgage industry. The reality has turned out quite differently.

The U.S. population is aging, and one of the well-established components of the American dream — buying and owning a home — appears poised to aid in the baby boomers' next phase of life.

Nearly 10% of Walter Investment Management Corp.'s employees will lose their jobs after it closes Ditech's Irving, Texas, office, a notice filed with the Texas Workforce Commission said.

The Department of Housing and Urban Development is implementing reforms to its reverse mortgage program and providing more counseling resources for seniors who are considering the product, Secretary Ben Carson said Monday.

Walter Investment Management Corp.'s share price has fallen below a threshold required by the New York Stock Exchange, but the exchange will give the company time to rectify the situation.

Walter Investment Management Corp. will close its Ditech subsidiary's Irving, Texas, office by the end of 2017, according to an internal memo. It's the first step in an effort to ultimately reduce Walter's physical footprint from 13 offices to as few as four.

The Trump administration's Justice Department was expected to be less aggressive in its pursuit of False Claims Act cases against the mortgage industry. Instead, its focus has shifted to Federal Housing Administration-insured reverse mortgages.