New FHA home equity conversion mortgage endorsements increased 10.8% from the first quarter to the second. Year-to-date, though, volume was down from the first six months of 2023. (Includes three data tables.)
A California-based real estate professional admitted to conspiring to originate 102 home loans worth more than $55 million using false and fraudulent loan application information.
FHA said it would consider stakeholder feedback in future policy updates. But industry trade groups are already calling for changes to the cyber incident reporting requirements announced and launched in May.
Sutherland and NOVAD formed a servicing operation in 2014 that won a contract to service reverse mortgages for HUD. The companies remained reverse-mortgage servicers until near the end of 2022.
Correspondent sales of government-insured mortgages originated during 2023 declined somewhat on an annual basis, but Veterans United upped its sales by 7.3%. (Includes data table.)
Improvements to the FHA home equity conversion mortgage program will help seniors maintain housing stability and financial security in retirement, according to Urban Institute’s Amalie Zinn.
Total issuance of Ginnie Mae mortgage-backed securities declined slightly during the first quarter of this year. Still, volume was up sharply from the first three months of 2023. (Includes four data tables.)
The class action seeks to incorporate all FHA borrowers who are owed an unclaimed refund on mortgage insurance premiums due to early termination of their loans.
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