Industry veterans may have heard this before, but HUD’s deputy assistant secretary for single family housing, Vicki Bott, says her agency will shortly issue a mortgagee letter “addressing HECM’s loss mitigation tools.” Speaking to an audience gathered in San Diego last week for an annual servicing conference sponsored by the Mortgage Bankers Association, Bott said: [...]

The Government National Mortgage Association (Ginnie Mae) announced that it guaranteed more than $38.1 billion in mortgage-backed securities (MBS) in January. The corporation also reported that in January, 2.35 percent of the Single-Family loans in Ginnie Mae guaranteed securities were 90-days or more delinquent, down significantly from 3.40 percent in January 2009.

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KBC sold its US reverse mortgage portfolio and said it will free up roughly $800 million dollars of cash in a company statement.

While the NRMLA Regional Meeting is underway in Atlanta, the economy is back on the front page of the news this week in Washington. It was announced yesterday that new home sales fell to an all-time low, sending reverberations through the housing and mortgage markets, as well as the economy as a whole. The drop [...]

Just a quick reminder that Reverse Fortunes is providing RMD readers with another free training session on March 4, 2010 at 9am PST. Reverse Fortunes will provide you with the keys to prepare and adapt to succeed in today’s market despite a myriad of new regulations and an uncertain future. They will provide practical tips [...]