The Department of Housing and Urban Development announced a $202 million Deutsche Bank settlement this week for the bank’s actions in a civil fraud case involving Federal Housing Administration direct lending.  The lawsuit, filed in May 2011, sought damages and penalties of Deutsche Bank for false certifications under the company’s Mortgageit subsidiary over a period of [...]

Retirees know they are facing rising health care costs. Exactly how much they will have to spend is a question, but a recent Fidelity Investments study hones in on an average figure: $240,000. For the average 65-year-old married couple retiring in 2012, the health care costs they will face are expected to be at least [...]

In case you missed it… here’s what happened in reverse mortgage news this week.  A Congressional hearing took a close look at reverse mortgages. A hearing before a House Financial Services subcommittee included testimony from NRMLA, Generation Mortgage, reverse mortgage counseling agencies, academics and AARP. Not too many surprises, but AARP did urge Congress to [...]

Lender rankings are front and center in the wake of large lender exits, as monthly industry reverse mortgage volume continues to struggle. Currently, that ranking includes Urban Financial, Generation Mortgage, Genworth Financial, One Reverse Mortgage and American Advisors group for wholesale and retail combined volume over the past 12 months, with Security one Lending a [...]

Reverse mortgage consulting company Wendover Consulting is teaming up with mortgage tech company Portfolio 360 to offer new valuation and due-diligence services to lenders. The strategic marketing alliance will allow Greensboro, N.C.-based Wendover to provide the new services through P360′s “Mosaic” platform. Wendover supplies a direct sales channel for all due-diligence reviews for HMBS sales, loan servicing [...]

The Consumer Financial Protection Bureau announced Wednesday that it will be making new rules for all mortgage originators. The rules target the point-fee structure mortgage originators use and set certain qualification and screening standards for bank and non-bank originators. “Mortgages today often come with so many different types of fees and points that it can [...]