HUD tightens rules for FHA appraiser roster
HUD is tightening the connection between an appraiser’s state license and their ability to perform FHA work.
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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.”
Texas proposes property tax cuts for homeowners 55+
Texas Lt. Gov. Dan Patrick’s “Operation Double Nickel” proposes lowering the senior property tax benefit age to 55 and expanding exemptions.
Poll finds broad support for independent Social Security commission
Seventy-one percent of respondents said they favor Congress establishing such a body, reflecting broad frustration with lawmakers.
New View Advisors floats sweeping changes to HECM, HMBS programs
New View Advisors urges HUD to cut upfront MIP and simplify HECM products, citing rising private-label share and MMI Fund strength.
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.