The changes allow eligible non-borrowing spouses with older Home-Equity Conversion Mortgages the potential to remain in their home following the death of the last surviving HECM borrower.
The VA maintained a sizeable lead in first-lien mortgage refinancing over FHA and private mortgage insurers in the first quarter of 2015 but yielded to both in purchase originations.
In recent years there has been speculation that Nationstar would spinoff Solutionstar, but officials at Nationstar now see Xome as a way to differentiate the nonbank from other lenders.
They called on policymakers to “embrace” nonbanks and address unintended regulatory impacts that are seen as driving banks out of portions of the mortgage market.