Agencies from 21 states across the nation sent shockwaves through the lending industry last week when they issued cease-and-desist orders against Ocwen Financial Corporation (NYSE: OCN), preventing the servicer from acquiring new mortgage servicing rights and originating new loans — and, in the case of Massachusetts, forcing it to transfer its existing portfolio. But according […]

Followers of publicly traded mortgage servicers might be coming down with a case of whiplash over the last few weeks. Walter Investment Management Corporation (NYSE: WAC) experienced massive losses following a dark mid-month earnings call, while Nationstar Mortgage Holdings (NYSE: NSM) and Ocwen Financial Corporation (NYSE: OCN) found themselves buoyed by positive news. First, the […]

Reform and regulations — or the rollback thereof — were in the forefront this week in the mortgage and housing spaces, as the shockwaves from President Trump’s proposed Dodd-Frank cuts continue to reverberate through the industry. RMD readers also learned about Reverse Mortgage Funding’s expansion, as well as new resources for borrowers from NRMLA. Here’s […]

Congrats on making it to another Friday—the weekend is in sight! A lot has occurred in the past seven days, but in case you missed it, here’s what happened in reverse mortgage news this week: New Rule Offers Opportunities for Reverse Mortgage, Financial Planner Relationships—On Wednesday, the Department of Labor released its final rule amending the […]

Ginnie Mae currently has several initiatives in the works that it believes will help open the door to more reverse mortgage lenders participating in the issuance of HECM mortgage-backed securities (HMBS), according to one senior agency official. Growth in the reverse mortgage industry can mean many things. In the secondary market, growing the HECM market […]

Late last week, the Federal Housing Administration (FHA) issued a series of updated, servicing-related guidance for Title II forward mortgages as well as Home Equity Conversion Mortgages. On Friday, FHA published Mortgagee Letter 16-02: Update of Preservation and Protection Requirements and Cost Reimbursement for Title II Forward Mortgages and HECMs. The new guidelines update the […]