After recovering in June from a four-month decline in overall industry performance, July gave lenders a reason for further optimism in 2010. According to Reverse Market Insight’s Wholesale Leaders Report for July 2010, total endorsement for retail and broker/wholesale lenders grew 10.8% for the month. With both channels continuing to grow from the previous month, July’s [...]

Although existing and new home sales shifted downward in July due to the expiration of the Homebuyer Tax Credit, recent data shows housing starts rebounded in August according to the Obama Administration’s latest scorecard. According to the Department, home prices have leveled off in the past year after 30 straight months of decline and homeowners added $95 [...]

Shedding light on perhaps emerging new attitudes toward a growing number of homeowners who are “under water” or “upside down” on their mortgage, more than one-third of Americans said it is acceptable for homeowners to stop mortgage payments and essentially walk away from their home, according to a new survey from the Pew Research Center. [...]

After being appointed as Assistant to the President and Special Advisor to the Treasury Secretary last week, Elizabeth Warren has wasted no time getting to work. Along with Treasury Secretary Tim Geithner, the two held a forum to seek input on the simplification of mortgage disclosure forms to ensure that consumers have the clear and easy-to-understand information they [...]

The Puget Sound Business Journal is reporting that Seattle Mortgage Co., a unit of Seattle Bank, has been hit with a lawsuit in California that claims illegal activities in its reverse mortgage business. According to court documents, the plaintiff, Mary Labrador alleges that Seattle Mortgage was illegally paying fees to its mortgage brokers and overcharging borrowers on [...]

Reverse Vision rolled out software updates that allow customers to run scenarios for the new HECM Saver and the updated principal limit factors, but it also released a new tool that visualizes how the changes will impact borrowers. Using the borrowers age, the tool graphically compares the updated principal limit factors to the old factors as well [...]