Reverse mortgages

Recent offerings come with lower age-eligibility requirements compared to traditional government-backed home equity conversion mortgages.

The company has been making investments in correspondent originations and servicing and “reverse” loans used by borrowers age 62 and up to withdraw home equity.

The $16 billion Champion Mortgage portfolio sale follows Ocwen Financial’s purchase of different assets from MAM a few weeks prior.

The ruling confirms that a state precedent regarding forward mortgages also applies to home equity conversion loans.

The deal will add $7.8 billion in reverse mortgage subservicing to Ocwen $6.7 billion portfolio.

The newly public company expects a 20% overall loss in adjusted earnings this year.

Hild, 46, schemed with other Live Well executives to increase the reported value of a pool of bonds used as collateral for loans, Assistant U.S. Attorney Jordan Estes told jurors in opening statements on Wednesday.

The forward and reverse mortgage lender completed its merger with blank check company Replay Acquisition Corp. on April 1.

Finance of America Reverse's product combines features of a forward mortgage, like 10 years of payments, with parts of a non-recourse reverse loan.

The servicer owned by Mr. Cooper agreed to pay a penalty for allegedly failing to provide its clients with clear information on foreclosure and defaults.