The general market uncertainty surrounding the unresolved debt debate in Washington may not be the worst thing for the HECM investor market, for the moment. With the markets responding to the nation’s debt ceiling problem through volatility, HECM market pricing has shown much less of an impact, namely because of its cash flow profile, says [...]

Older Americans are the hardest hit by foreclosure rescue scams, in what amounts to a total of more than $40 million in losses from fees paid to fraudulent and deceptive “rescuers,” says an issue brief from the Lawyers’ Committee for Civil Rights Under Law. Scams targeting the population of those who are ages 51 and [...]

Conforming loan limits remain a topic of pursuit among industry groups in Washington and at least one top Democratic representative believes there is a good chance the loan limits will remain at their current level, and will receive White House support. Last week, Rep. Barney Frank (D-Mass.), Chairman of the House Financial Services Committee told [...]

The Mortgage Interest Deduction could come under debt-deal fire as President Obama and Congress struggle to come to budget terms, according to reports last week. Capping the MID and eliminating it for second homes and home equity loans is being discussed, according to a report by National Mortgage News that cited “industry officials.”

Brand trust and recognition are huge factors for seniors who are shopping for reverse mortgages, consumer advocates say, and so Wells Fargo and Bank of America’s exits from the reverse industry could have an impact on consumer perception of the product. Subsequently, the number of reverse mortgage endorsements could take a hit, if public perception [...]

Pending a transfer of authority from Dodd-Frank to the Consumer Financial Protection Bureau, the bureau filed an interim final rule Friday that allows state-licensed loan originators to continue making alternative mortgages under federal law, rather than state law, under the Alternative Mortgage Transaction Parity act of 1982. The bureau, still without a director, will have [...]