Reverse mortgages

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.

The outstanding amount that people ages 62 and up hold represented a nearly $15.4 billion gain in property value offset by a record $2.32 billion in borrowing.

The warning follows a period in which its stock traded below a certain threshold. The company can stay listed and plans to ask for time to regain compliance.

The Department of Housing and Urban Development proposal, which would modernize client meetings necessary for some mortgages, is similar to an FHA move.

The judge also sealed a document in the lawsuit the AARP Foundation joined but the defendants still must produce fee codes in the proposed class action.

The incentives are part of a broader set of Federal Housing Administration servicing changes for Home Equity Conversion Mortgages that also offers some new options for procedures.

Financing costs have risen and consolidation has reduced the number of active players. Will policy changes shift the market's course?

The former investment type added to net earnings, but a tough market hurt some sectors of it during a quarter in which the company experienced mixed success with M&A attempts.

As the leading player in a specialized niche within the consolidating mortgage market, Finance of America is being watched closely.

The seizure of servicing from Reverse Mortgage Funding's bankruptcy has had ripple effects ranging from a private legal challenge to broader policy changes.

If the Federal Housing Administration's rulemaking on home equity conversion mortgages were to go into effect as written, borrower contributions would be reduced by thousands of dollars.

The loan, dubbed Homesafe Second, will allow borrowers 55 and older to tap their home equity via a second mortgage.

While the company's long-term issuer default rating has slipped a little, affiliates of Blackstone that have a higher one back the reverse mortgage player.