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.
HMBS
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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.
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.
Reverse mortgage endorsements, securities issuance fell in February
HECM endorsements and HMBS issuance declined in February, which some professionals said reflected higher mortgage rates at the start of 2025.
Texas Capital Bank enlists reverse mortgage expert’s opinion in Ginnie Mae lawsuit
The bank enlisted a former FOA executive to offer an expert report, but the judge says he needs to know the government’s perspective on it before moving ahead.
Texas Capital Bank opposes summary judgment motion in Ginnie Mae suit
TCB says that granting the government a summary judgment in its lawsuit against Ginnie Mae would be based on on an “incorrect” idea.
With Ginnie Mae under fire, concern about market disruption is growing
Ginnie Mae is a target of DOGE, but housing companies are pushing back according to reporting from Bloomberg.
HMBS 2.0 rollout could be hobbled by reported Ginnie Mae staff cuts
A former official said that layoffs at Ginnie Mae could delay or table certain programs like HMBS 2.0, but a source familiar with HUD’s plans disputed any “drastic staffing cuts.”
HECM endorsements, HMBS issuance see relatively little movement to start 2025
HECM endorsements increased by less than 1% from December to January, while HMBS issuance is historically low but still healthy.
Judge grants delay in TCB suit against Ginnie Mae as government seeks summary judgment
The government seeks summary judgment, saying that a prior ruling from the presiding judge is ‘fatal’ to TCB’s remaining claims.