Examiner guidelines for the consistent implementation of the Federal Reserve Bank’s final rules for closed-end credit under Regulation Z were recently released by the Multi-State Mortgage Committee, a ten-state representative body created by the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR). The rule includes loan originator restrictions [...]

Reverse Fortunes Weekly Podcast Episode #177 Reverse Fortunes’ latest podcast discusses Genworth’s recent suspensions of several reverse mortgage product offerings. Also hear from Reverse Fortunes’ Shannon Hicks on a recent letter-writing campaign launched by Reverse Mortgage USA that enables borrowers reach out to senators and other lawmakers with their positive reverse mortgage experiences.

Mortgage Cadence, LLC, a provider of Enterprise Lending Solutions (ELS), recently introduced Mortgage Cadence Symphony Reverse, a reverse mortgage software solution targeting both mid-size reverse lenders and those new to the scene who are in pursuit of available market share following recent big bank exits. The new software helps up-and-coming lenders get off to a [...]

Without the most relevant and timely data, it’s hard for anyone to make the right decisions—especially Congress. Even after consumer protections have been implemented for reverse mortgages, we continue to see the same outdated arguments presented before politicians. Case in point, during an early October hearing before the Senate Banking, Housing and Urban Affairs Subcommittee [...]

Generation Mortgage is expanding, with the recent opening of a new New York office. The company announced today that is has opened a West Babylon, New York office that will serve the market throughout the state. Generation says the expansion will help retail outreach in the nation’s third most populous state. Led by Ed O’Connor, [...]

Knight Capital Group, Inc. reported a net income of $26.9 million, or $0.29 per diluted share for the third quarter ending on Sept. 30, 2011, and its CEO mentioned Urban Financial’s contributions to overall quarterly revenue in the conference call. The third quarter included a pre-tax restructuring charge for severance, write-down of assets, and related costs [...]