Reverse mortgage lenders chalked up a win in Florida’s Third District Court of Appeal on the question of whether surviving spouses of borrowers who had taken out a Home Equity Conversion Mortgage loan also qualified as “borrowers” and, therefore, cannot be evicted from the property after the death of the borrower. The appellate court’s ruling contradicted two previous court rulings in Smith v. Reverse Mortgage Solutions, Inc. and Edwards v. Reverse Mortgage Solutions, Inc. Both rulings held that surviving spouses of deceased HECM borrowers also qualified as “borrowers” under the terms of the mortgage and, therefore, entitled to protection from eviction. However, in One West Bank, FSB v. Palmero, the appellate court changed course and outlined the conditions under which a lender could prove that “borrower” meant only the person who actually had taken out the reverse ...

Chimera CIO Mohit Marria: “The thirst for yield from the investor base remains strong.”

Great Ajax’s forte is buying re-performing mortgages…

Not too long ago, UWM rolled out a $500,000 grant program designed to allow LOs to start their own loan brokerage firms...

“The opportunity for us is clear,” said Christopher Abate, president of Redwood. “Capital needs in this still emergent sector of housing finance continue to rise..."

New Residential said during and subsequent to the first quarter, it entered into agreements to buy $38.0 billion of mortgage servicing rights...

Interesting fact: Most of these non-QM loans were originated by banks...

“It appears that the larger the investment, the larger the resentment,” Stratmor said.

Most of the loans are non-agency jumbos, but a handful are eligible for sale to Fannie Mae and Freddie Mac.

HomeStreet Bank, Seattle, revealed in its earnings statement this week that it chopped 86 full-time positions.