NRMLA backs New Jersey bill clarifying reverse mortgage rules
NRMLA said the current statute does not align with how reverse mortgages are structured or used by older homeowners.
Reverse Mortgage Daily
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Judge blocks key Hometap defenses in Massachusetts HEI lawsuit
The state alleges that Hometap’s flagship home equity investment (HEI) product is an “illegal, deceptive, oppressive and unconscionable mortgage that violates the criminal usury statute.”
NRMLA speaks out on the future of federal reverse mortgage programs
After federal housing leaders issued a request for information in October about the future of two key reverse mortgage programs, the National Reverse Mortgage Lenders Association (NRMLA) weighed in last week with a detailed list of suggestions.
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.
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.