Reverse mortgage servicer Celink received improved marks from Standard & Poors this week, with an affirmed “above average” ranking as a servicer and raised sub-ranking from “above average” to “strong” for loan administration.  “Celink, we believe, continues to show good experience levels,” the S&P report states, noting the company’s growing portfolio with additional growth expected [...]

Reverse Mortgage Solutions’ Mike Kent, president of mortgage lending, sat down with RMD at the NRMLA Eastern Regional conference in New York a couple of weeks back to talk about new opportunities for the reverse mortgage company, and what’s on the horizon for RMS on the “forward” side of the business. We asked Mike: What [...]

While several lenders have publicly explored the use of a financial assessment to reduce the instance of tax and insurance default among borrowers with any long-term measurement of success, Reverse Mortgage Solutions has implemented its own plan to monitor the instance of those defaults as well as an effort to prevent them. So far, it [...]

The Consumer Financial Protection Bureau has begun to make its mark on mortgage lenders through oversight of non-bank institutions, audits and discussions of altering its policy on loan originator compensation. In its most recent announcement, however, the agency is looking to make new rules in the mortgage servicing arena that it hopes to finalize by [...]

The Department of Housing and Urban Development announced officially this week through Mortgagee Letter 12-07 that it has hired a new mortgage servicing contractor for its single family properties, including reverse mortgages. Irving, Texas-based Deval, LLC is now responsible for Federal Housing Administration Single Family assets including Home Equity Conversion Mortgages (HECMs). Servicers have the [...]

Reverse Mortgage Solutions confirmed Friday it plans to move into the forward mortgage business. The Spring, Texas-based company, launched in 2007 as a reverse mortgage servicer, has since grown several other business channels including correspondent lending, wholesale and retail origination. It also is an active Ginnie Mae HMBS issuer and has moved into the REO [...]