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Reverse Mortgage Basics
A reverse mortgage is a loan that allows homeowners over the age of 62 to access the equity they’ve built ... Read More »
Reverse Mortgage Information
If you are here to learn about reverse mortgages – we can help. Call us now and ask for Steve. He ... Read More »
Reverse Mortgage Industry News
- Ginnie Mae Brings Platinum Channel to Reverse Mortgage SecuritiesThe Government National Mortgage Association (GNMA), also known as Ginnie Mae, announced on Thursday that mortgage securities backed by Home Equity Conversion Mortgages (HECMs) can now make use of a new “platinum” securities execution: the Home Equity Conversion Mortgages Backed Security (HMBS) Platinum securitization channel. This option, “eases the administrative costs of holding multiple (and […]
- FAR Recycles Collateral in Series of New Defaulted HECM BondsThe next offering of bonds from Finance of America Reverse (FAR) that are backed by defaulted reverse mortgages includes a higher percentage of loans from a 2017 transaction which collapsed recently. This is according to a story in Asset Securitization Report (ASR). “Nearly 67% of the loans in the $309 million loans and repossessed properties […]
- CFPB Out of Bounds on Recent Exams, Misused ResourcesAt a time when the CFPB is getting accustomed to a new director, the CFPB has been found to have gone outside its examination authority, according to the Office of the Inspector General (OIG). According to a report released in March, OIG identified instances in which the Consumer Financial Protection Bureau (CFPB) examined financial service […]