Echoing decisions among several large U.S. banks that decided to exit the reverse mortgage business in recent years, a number of banks in Australia are now doing the same, including the nation’s largest lender, the Commonwealth Bank. This may prove to pave the way for the Australian government to enter the fray with a low-cost […]
Although new endorsements of Home Equity Conversion Mortgages (HECMs) have been halted due to the partial government shutdown that began on December 22, reverse mortgage originators are largely conducting business as usual in spite of the gridlock plaguing Washington, D.C. Certain FHA services related to pre-existing HECM loans will still be available during the shutdown, […]
Compu-Link Corporation (Celink) has agreed to pay a $4.25 million civil settlement to the United States to resolve allegations made by the U.S. Justice Department relating to a False Claims Act violation related to its servicing of Home Equity Conversion Mortgage (HECM) products. This is according to a press release from the United States Attorney’s […]
