New state licensing going into effect is making it more and more costly—and difficult—to operate as a small appraisal management company (AMC). But the new licensing is also coming as a surprise to some lenders as state-by-state, the new licensing goes into effect. It could have strong implications for the future of AMCs as well [...]

Legislation proposed to extend payroll tax cuts for two months could cause some Federal Housing Administration mortgage fees to rise, essentially leading to an increase in the cost of those mortgage loans for homeowners. The House is scheduled to vote on the legislation Monday night. The legislation has been hotly contested as a means to [...]

Legislation was introduced in the Senate late last week that would reform and recapitalize the Federal Housing Administration in an effort to prevent a taxpayer bailout. The bill, introduced by Senator David Vitter (R-La.) would require the FHA to recapitalize its single-family mortgage insurance fund in two years. “I certainly don’t want the FHA to [...]

Reverse Fortunes Weekly Podcast Episode #185 Reverse Fortunes’ latest podcast covers the recent launch of a new reverse mortgage production center by First National Bank of Layton. Also hear from Reverse Fortunes’ Shannon Hicks on political figures in Congress who may rise as reverse mortgage supporters following the decision of Barney Frank not to run [...]

Fraud investigator and prosecutor Michael Bresnick has been named by Attorney General Eric Holder to head up President Obama’s Financial Fraud Enforcement Task Force. The task force, which aims to identify and prosecute financial fraud including mortgage fraud, was launched by President Obama in November 2009 and comprises more than 20 federal agencies, 94 U.S. [...]

Competing wholesale reverse mortgage lenders say they are beginning to see an uptick in business from brokers that previously had delivered loans to MetLife Bank. As a result of new financial assessment guidelines, one wholesale executive told RMD his business this month has been the best December on record and what typically would be a [...]