HECM endorsements spike in November amid shutdown backlog
Home Equity Conversion Mortgage (HECM) endorsements saw an artificial increase in November due to the government shutdown, an effect that may continue into December.
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MBA lays out proposed changes for federal reverse mortgage programs
MBA proposes seven reforms for the HECM and HMBS programs, including new securitization options and changes to mortgage insurance premiums.
FOA maps next steps after PHH reverse asset acquisition
In the wake of PHH’s exit from reverse mortgages, FOA outlines its strategy to absorb PHH’s $9.6B HECM portfolio and prepare for changes.
PHH Mortgage will halt reverse originations, sell MSRs to Finance of America
Onity Group will sell $9.6 billion in reverse mortgage servicing rights to Finance of America and exit the reverse origination business.
Hometap continues to fight ‘illegal reverse mortgage’ lawsuit in Massachusetts
State Attorney General Andrea Joy Campbell sued Hometap in February 2025, labeling the company’s primary product offerings as “illegal reverse mortgages that fail to comply with state consumer protection laws.”
Smartfi Home Loans shutters retail division
Smartfi Home Loans, a top reverse mortgage lender, closed its retail division to focus exclusively on wholesale operations. Paul Fiore departed as retail president.
GoodLife’s Chase Kinder on growing his company’s reverse mortgage presence
GoodLife Home Loans is rapidly growing its HECM market share and looking to expand under new wholesale division leader Chase Kinder.
Longbridge’s ‘HELOC for Seniors’ is officially on the market
Longbridge Financial has officially launched a home equity line of credit (HELOC) that’s designed for homeowners aged 62 and older, offering approval and funding in as little as five business days.
Reverse mortgage production metrics took a tumble in August
Despite a sharp decline in August endorsements, wholesale sponsors like Longbridge and Finance of America helped to sustain volumes.
YouTubers set trap for crime ring targeting seniors, resulting in 25 arrests
Federal agents disrupted a long-running fraud scheme targeting seniors, helped by YouTubers who set and sprang the trap on the fraudsters.