Reverse mortgages

Their summer gains come as home price growth begins to slip and reverse mortgage volumes hit a two-and-a-half year low in September.

In the face of a growing number in home-equity products, HECM endorsements dropped nationwide by over 43% on a monthly basis to its lowest point in more than two years.

But knowledge of HELOCs and HECMs is higher among Gen Z and millennials than boomers.

New home equity conversion mortgage endorsements slowed in April, but remained almost 50% higher than the level from one year ago.

Monthly growth for home equity conversion mortgages was observed across the country, with the Eastern U.S. seeing a significant uptick.

An increase in loan-limit size and the rapid growth of home equity fueled interest in reverse mortgages in January.

The move takes Constellation Mortgage Solutions into the reverse mortgage business, which has fewer competitors than forward loan origination and servicing systems.

Originations of home equity conversion mortgages surged nationwide at the end of the year, with December numbers near a 4-year high.

Nearly half of the company’s revenue comes from sources outside of the traditional home lending market, CEO Patricia Cook told analysts during the company’s earnings call.

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.

The deadline for inclusion in Ginnie mortgage-backed securities has been extended and an exception will be made for some participations.