Genworth Financial Home Equity Access has acquired the reverse mortgage websites of Premium Reverse Leads, a lead company based in Chicago, IL. RMD has been aware that the two companies were discussing a deal for quite some time, but it’s clear the acquisition recently closed after seeing the domain ownership was transferred to Genworth late [...]

The Department of Housing and Urban Development may issue new guidance under the Real Estate Settlement Procedures Act (RESPA) to address possible changes in warehouse lending used to fund federally insured mortgages. According to HUD, its RESPA regulations relevant to this area were developed and revised over 15 years ago, when it amended the rules [...]

The number of reverse mortgage applications fell 38.8% in October, coming in at 8,249 units according to data released the the Department of Housing and Urban Development (HUD).  The drop was expected after the number of applications spiked prior to HUD lowering the principal limits for the HECM program.  While the drop is significant, it’s [...]

Last week the co-chairs of the National Commission on Fiscal Responsibility and Reform — a non-partisan task force faced with coming up with creative and fair ways to reduce federal spending, reduce national debt and balance the budget — proposed scaling back the mortgage interest tax deduction among its various ideas in a 50-page proposal. [...]

Home prices in the US declined for the second month in a row after rising slightly for the first seven months of the year according to September’s Home Price Index (HPI) data from CoreLogic. According to the CoreLogic HPI, national home prices, including distressed sales, declined 2.79 percent in September 2010 compared to September 2009 [...]

As implementation of Dodd-Frank reform bill gets underway, reverse mortgage lenders are preparing for whatever regulators might throw at the industry. While the last few years have brought on many changes and increased scrutiny, one executive is confident about the way the industry operates. “We’re happy having the industry being hyper regulated,” said Jeff Lewis, [...]