Reverse Mortgages Pros Ocwen CEO Retires, Former PHH Executive to Assume Role Ocwen Financial Corporation (NYSE: OCN) president and CEO Ron Faris will retire at the end of June, the financial services corporation announced Thursday. Glen Messina, former president and…
Reverse Mortgages Pros Reverse Mortgages Issued Under New Rules Outstrip Old, Age Gap Narrows Reverse mortgages issued under the new, post-October 2 principal limit factor rules have surpassed those originated under the old structure, according to a new analysis from…
Reverse Mortgages Pros Three Years In, Underwriters Say LESA Has Improved Reverse Mortgages It’s been nearly three years since the Department of Housing and Urban Development introduced Life Expectancy Set-Asides (LESAs), which require borrowers with less-than-stellar credit histories to set…
Reverse Mortgages Pros Reverse Mortgage Originators Tackle Ways to Improve Servicing Reverse mortgage lenders and originators have made great strides in improving the product’s image over the last decade. But once the borrower signs the loan documents, his or her…
Reverse Mortgages Pros Report: HUD Secretary Carson’s Job in Question at White House When President Trump fired national security advisor H.R. McMaster, the move reportedly disrupted a larger plan to oust Ben Carson and others, according to Politico. The Department…
Reverse Mortgages Pros HUD Pledges Fiscal Responsibility, System Upgrades Amid an ongoing public controversy over its leader’s spending, the Department of Housing and Urban Development on Thursday announced a major push toward greater financial responsibility. Newly appointed HUD chief financial…
Reverse Mortgages Pros Reverse Mortgage Originators Offer a Wish List for Reform Allowing homeowners to access more equity and changing the face of life expectancy set asides (LESAs) — those stand as some of the main changes that loan originators…
Reverse Mortgages Pros FHA’s Penalties, Deadlines Lead to Steep Servicing Costs Servicing a troubled Federal Housing Administration-backed loan costs three times as much as a loan from government-sponsored enterprises (GSEs) — largely due to the FHA’s steep penalties for any…
Reverse Mortgages Pros Counselors See Changes in Motives of Reverse Mortgage Borrowers As reverse mortgage counselors adapt to shifting levels of volume since the October rule changes, they are also adjusting to the types of borrowers seeking counseling. For the…
Reverse Mortgages Pros LendingTree Ranks Cities with Greatest Reverse Mortgage Usage Virginia Beach, Va. topped a LendingTree list of cities with the highest usage rates of reverse mortgages, with usual suspects in the West dominating the rest of the rankings.…