While the Federal Housing Administration’s annual report to Congress, released in November, presented a steady outlook for the home equity conversion mortgage program, the overall analysis of FHA’s Mutual Mortgage Insurance (MMI) Fund showed what could be a precarious situation for the administration’s housing insurance program. “There is no current evidence for any widespread, sustained [...]

Foreclosure is not just a financial problem—it also has negative health implications for homeowners older than 50 who fall behind on their mortgages. They’re much more likely to report symptoms of major depression, says the Robert Wood Johnson Foundation, citing a study written by Foundation-supported scholars. Additionally, mortgage-delinquent homeowners were found more likely to lack [...]

The Consumer Financial Protection Bureau (CFPB) announced on Tuesday that it will seek public opinion on how to streamline regulations stemming  more than a dozen consumer financial laws that the agency inherited from seven different federal agencies with the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act. “Our goal is to make [...]

Negative equity among borrowers across the United States decreased slightly in the third quarter of 2011, according to data released by CoreLogic (NYSE:CLGX) on Nov. 29, but more than a quarter of residential mortgage borrowers are underwater or close to it. While the numbers are still high, with 22.1% of residential properties had a mortgage in [...]

On the heels of big bank exits from the reverse mortgage industry, smaller lenders tell American Banker that the exits have presented an unexpected surge in their business with a strong upside for those who are more specialized in reverse mortgage products. One even said it was like getting an early Christmas present. “I’m picking [...]

When the “Supercommittee” failed to reach its goal of agreeing on a debt reduction plan, some seniors may have breathed a sigh of relief, as many had expressed concern over the effect the deficit deal could have had on their financial security in retirement, reveals a recent bipartisan, national survey conducted by Lake Research Partners and Public [...]