Judge rules in favor of Ginnie Mae in lawsuit brought by Texas Capital Bank
The case brought by TCB against Ginnie Mae has been ended via summary judgment in favor of the government. The bank has vowed to appeal.
HECM
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FOA promotes Jonathan Scarpati to chief production officer
Scarpati will now oversee both wholesale and retail production at FOA, in an effort to “optimize internal structures and accelerate performance gains” for its multichannel operations.
New FHA citizenship, residency requirements apply to reverse mortgages
Rules that restrict FHA-backed financing to U.S. citizens and permanent residents applies to reverse mortgages — with interesting details.
Fitch Ratings assesses home equity investments amid wider scrutiny
The credit ratings agency said it does not rate HEIs, as some have gone after the industry by comparing its products to reverse mortgages.
HUD cancels HECM-related tech contract under direction of DOGE
A technology tool designed for use by reverse mortgage counselors is no longer available after its contract was canceled.
Onity leaders talk reverse channel profitability, tease proprietary product development
Onity Group executives tout the profitability of their reverse mortgage business and tease the development of a new private-label offering.
NRMLA supports Hawaii bill seeking state-run reverse mortgage program
The reverse mortgage trade association said it supports a bill to set up a state-run HECM program, but it also requested some changes.
The state of the reverse mortgage business in early 2025
Reverse mortgage lenders are making moves in early 2025 while business is humming — though not booming — in the early months of the year.
How a government shutdown could impact reverse mortgages
If a government shutdown happens, here are the likely reverse mortgage business impacts based on recent history and HUD’s contingency plan.
Finance of America reports Q4 loss, full-year profit for 2024
FOA remains bullish about reverse mortgage industry prospects despite some market turbulence, its leaders said this week.