In case you missed it…here’s what happened in reverse mortgage news this week:
Live Well Releases Fixed Freedom Reverse Mortgage Product—a new Home Equity Conversion Mortgage (HECM) that offers an open-end, fixed rate option for borrowers is the latest in a series of new reverse mortgage product rollouts.
RMF Announces New HECM Choice Reverse Mortgage Payment Plan Options—Reverse Mortgage Funding expanded its new fixed rate HECM Choice product to offer all payment plans at loan origination.
Reverse Mortgage Lenders Jostled for 2013′s Top Spot—Last year, reverse mortgage lenders jockeyed for position as the top lender, but Liberty Home Equity Solutions came out on top in 2013, according to the latest Reverse Market Insight Industry Summary. Check out who else made the cut.
Ocwen Looks to Sell Off Some Mortgage Servicing Risk—Under increasing scrutiny lately for its rapidly growing portfolio of mortgage servicing rights (MSRs), the non-bank servicer said it is planning to sell a pool of MSRs to several capital markets investors.
CFPB Piles Onto Mortgage Servicers Crackdown Bandwagon—Regulatory scrutiny of the mortgage servicing industry intensified, this time with new comments from a top official at the Consumer Financial Protection Bureau.
Written by Jason Oliva