Reverse Mortgage Daily
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Provider: Reverse Mortgage Daily
Feed Type: Residential
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The reverse mortgage industry has struggled with adapting to changes made to the Home Equity Conversion Mortgage (HECM) program handed down by FHA two years ago. In 2019, the industry recorded a 32.3% loss in volume for the period of January-July compared with the same period the prior year. As a result, finding standout success […]
The post Fairway Bucks Market Trend With Reverse Mortgage Success appeared first on Reverse Mortgage Daily.
10/14/2019 06:07 PM
The Consumer Financial Protection Bureau (CFPB) announced Friday that it will establish a specialized taskforce to, “examine ways to harmonize and modernize federal consumer financial laws,” according to a press release. The new body, called the “Taskforce on Federal Consumer Financial Law,” is aimed at examining the existing legal and regulatory climate that faces consumers […]
The post CFPB Creates Federal Consumer Finance Law Taskforce appeared first on Reverse Mortgage Daily.
10/14/2019 06:02 PM
The late September hearing of the U.S. House of Representatives Financial Services Subcommittee on Housing, Community Development, and Insurance provided a rare moment of insight into the perspectives that national politicians maintain toward the Home Equity Conversion Mortgage (HECM) program. Over the course of the proceeding, more Republicans expressed doubt concerning the viability and effect […]
The post HECM Hearing Recap: Democrats, Republicans Agree on Something appeared first on Reverse Mortgage Daily.
10/10/2019 09:53 PM
The Consumer Financial Protection Bureau (CFPB) announced on Thursday the issuance of a new, final rule under the Home Mortgage Disclosure Act (HMDA). The new rule extends the current temporary threshold for collecting and reporting data about open-end lines of credit under HMDA for two years. Additionally, the rule also clarifies partial exemptions from certain […]
10/10/2019 09:52 PM
The Government National Mortgage Association (GNMA, or “Ginnie Mae”) Executive Vice President and Chief Operations Officer Maren Kasper will be stepping down on October 18 for a new position in the private sector, according to a late Thursday press release issued by the organization. Kasper was previously appointed as acting president in the aftermath of […]
10/10/2019 09:50 PM
Thank you once again to Reverse Mortgage Daily’s dedicated base of readers for your continued support! As a reminder, RMD’s Chicago headquarters will be closed on Monday, October 14 in observance of the upcoming federal holiday. Our normal posting schedule and daily email will resume on the morning of Tuesday, October 15. We hope everyone […]
10/10/2019 07:00 PM
Despite some reverse mortgage stakeholders believing the HECM for Purchase loan would be looked at as a “sleeping giant” for the industry, loan counts have represented a plateau for the product at around 7% of volume. Many see the product’s potential, and have touted it across the country to Realtors and other real estate partners, […]
The post How One Lender is Defying the Odds by Growing With HECM For Purchase appeared first on Reverse Mortgage Daily.
10/09/2019 09:59 PM