Sun West Mortgage Company (SWMC) announced it has acted as a participant agent for Ginnie Mae’s HMBS program for more than $6 billion in reverse mortgages. As participation agent, SWMC handles all of the Ginnie Mae specific reporting and remitting requirements through its ReverseSoft origination platform.

For the fourth consecutive month, builder confidence in the market for new, single-family homes remained unchanged at 16 in February, according to this month’s National Association of Home Builders/Wells Fargo Housing Market Index. The index is based on a monthly survey that NAHB has been conducting for more than 20 years. It serves to gauge [...]

Many baby boomers are expecting retirement to be delayed at least 4 years according to CPA financial planners surveyed by the American Institute of Certified Public Accountants. That’s even with re-surging confidence in the stock market, which, with recent gains, is helping replenish retirement accounts. Fifty-two percent of CPA financial planners said their clients – who [...]

Reuters is reporting that many financial advisers continue to view reverse mortgages as a last resort of retirement income. Describing the loans as “controversial tax-free loans”, some feel the loans upfront fees remain high. David Hultstrom, president of Financial Architects LLC, told Reuters ”some things are just oversold, and I think this is sort of like that.” [...]

The National Association of Independent Housing Professionals (NAIHP) is preparing to take legal action against the Federal Reserve Board for its loan originator compensation rule according to a statement posted on its website. “NAIHP anticipates our suit will be filed within the next ten days,” said the group.  ”As mentioned in previous announcements, our first order [...]

Faced with a growing list of proposed regulations from various government agencies, many reverse mortgage brokers are making the transition to become bankers in the coming months.  To accommodate the growing segment, MetLife has enhanced their technology to make selling whole loans through their correspondent channel easier. Working with IBIS Software, MetLife’s Tango origination platform allows [...]