With home prices at sustained 7-year lows and continuing to fall in some regions throughout the U.S., market conditions have led to a slight perceived delay in servicing processes for reverse mortgage properties. The low values have caused slowed sales, and in turn, pressure on servicers, especially when working with foreclosed properties. “We have seen [...]

Mortgage Orb is reporting that the taxes and insurance default situation facing the reverse mortgage industry is moving towards resolution. Writing for the Publication, Marc Helm, president of Reverse Mortgage Solutions writes:

In case you missed it…here’s a recap of reverse mortgage news this week: Urban Financial Group announced it has received HMBS Approval. Urban is the first to receive approval following new GNMA requirements that lifted the moratorium at the end of last year. The addition of Urban brings the total number of approved HMBS issuers to [...]

Home prices declined 1.6% from from January to February on a seasonally-adjusted basis, according to the most recent monthly data from the Federal Housing Finance Agency’s Home Price Index. For the 12-month period ending February, 2011, prices fell 5.7%, according to the FHFA data, which is based on the home prices of Fannie Mae- and Freddie [...]

Mortgage Bankers Association board member Henry Cunningham Jr. testified before the House Financial Services Committee Subcommittee on Capital Markets and Government Sponsored Enterprises last week at a hearing on the newly proposed risk retention requirements. On behalf of the MBA, Cunningham, who is MBA Residential Board of Governors chairman, spoke of the “profound effects on [...]

The first part of a two-part article published in the McComb Daily out of McComb County, Michigan, aims to refute the arguments of reverse mortgage critics by citing a National Reverse Mortgage Lenders Association study, released earlier this year. “Reverse mortgages have been the target of a lot of bad publicity of late, much of [...]