ReverseVision Names Kelly Kelleher Director of Corporate Marketing & Events

Reverse mortgage software and technology provider ReverseVision, Inc. recently announced the promotion of Kelly Kelleher to the role of director of corporate marketing and events. Since joining the company in 2013, Kelleher has helped guide projects ranging from a full-scale corporate rebranding to targeted marketing campaigns to drive user participation in ReverseVision’s flagship reverse mortgage […]

Senate Committee Grills Trump Treasury Pick on Reverse Mortgage Foreclosures

President-elect Donald Trump’s pick for Secretary of the U.S. Treasury, Steve Mnuchin, testified before a United States Senate committee this past week, where he answered for the reverse mortgage business practices of a now-defunct originator that was formerly owned by a company under his control. Since his nomination to serve as the Treasury Secretary under […]

HUD Suspends Reduction of FHA Mortgage Insurance Premiums

The Department of Housing and Urban Development (HUD) is suspending previous guidance that permitted a reduction of annual mortgage insurance premium rates for certain Federal Housing Administration (FHA) mortgages, the agency announced via Mortgagee Letter 2017-07 published Friday. Effective immediately, Mortgagee Letter 2017-07 supersedes guidance published earlier this month that reduced the annual MIP by […]

HUD Finally Issues Long-Awaited Program Changes for Reverse Mortgages

The Department of Housing and Urban Development (HUD) issued its final rule on Thursday, spelling out several program changes the agency is making to Home Equity Conversion Mortgages (HECMs) set to take effect later this year. Published in the Federal Register on Thursday, the final rule titled “Strengthening the Home Equity Conversion Mortgage Program” codifies […]

FHA Issues New Guidance on Reverse Mortgage Claim Assignment Requests

This week, the Federal Housing Administration (FHA) provided updated guidance regarding the submission of Home Equity Conversion Mortgage (HECM) assignment requests to HUD. Mortgagee Letter 2017-05, published Wednesday, consolidates policy found in various existing mortgagee letters and handbooks for mortgagees submitting HECM assignment requests by initiating a Claim Type 22 (CT-22) in HUD’s Home Equity […]

New Reverse Mortgage Jobs Available—Apply Today

Reverse mortgage lenders nationwide continue their search for qualified personnel in 2017 by offering a variety of jobs across a range of industry expertise. This week’s listings on the RMD Job Board include available positions for reverse mortgage loan processors, underwriters, originators, as well as a variety of sales roles. Longbridge Financial LLC, Preferred Reverse […]

Trump Treasury Pick’s Ex-Firm Subject of New Reverse Mortgage Investigation

New York Attorney General Eric Schneiderman has opened an investigation into the reverse mortgage practices at a company formerly owned by Steven Mnuchin, President-elect Donald Trump’s pick for Secretary of the U.S. Treasury, reports The Wall Street Journal. Mnuchin, a former Goldman Sachs executive, was the co-founder of OneWest Bank Group LLC, which acquired reverse mortgage lender […]

HUD Awards $15 Million for Senior Housing Aging in Place Initiative

The Department of Housing and Urban Development (HUD) on Friday awarded approximately $15 million to select owners of HUD-assisted senior housing developments as part of a new initiative to help low-income seniors age in place and delay or avoid the need for nursing home care. In these select developments, HUD will cover costs related to […]

Walter Shuts Down RMS, S1L Reverse Mortgage Originations

Walter Investment Management Corp. (NYSE: WAC) is exiting the reverse mortgage origination business, including its wholesale and retail channels under the Reverse Mortgage Solutions and Security One Lending brands. Walter will maintain its reverse mortgage servicing operations under RMS, the company confirmed to Reverse Mortgage Daily. The changes are effective January 17, 2017, a Walter […]