· Knight sees the HECM Saver as an opportunity to make reverse mortgages more attractive to a different cohort of borrowers. “It’s exactly what we need to get the mainstream acceptance we’re looking for,” says David Fontanilla, trader at Knight Capital Group.
KBW: Here’s how Shelby bill will affect banks and mortgage finance About PennyMac Loan Services As a top direct national mortgage lender, PennyMac is committed to providing our customers with a range of innovative solutions to help them purchase, refinance or simply remain in their homes.
Tax and Insurance Responsibilities of a Reverse Mortgage Borrower Jun 28 2010, 1:01PM When loan documents are signed at closing, borrowers agree to the terms of the loan.
Mortgage cancellation insurance insures the individual so that when the person passes, it pays a claim to the person’s beneficiary. The Mortgage Insurance that you pay when you take out an FHA loan (whether it is a reverse mortgage or a forward loan), insures a number of people on your behalf against the risk of loss as a result of the loan.
According to the CFPB, reverse mortgage borrowers are taking out loans at younger ages than they have historically. As of April 2014, nearly half of the reverse mortgage borrowers were under age 70, which we consider indicative of a growing propensity to tap home equity, rather than pass it.
S&P/Case-Shiller home price index shows 0.7% drop in September SAN FRANCISCO (MarketWatch) — If anyone is anticipating a quick turnaround in home. show the S&P Case-Shiller index of prices in 10 cities continuing to fall. The November contract, which reflects.JPMorgan Chase reportedly settles with FHFA for $4B Home price dip leads JPMorgan to downgrade market Fixed-rates on mortgages rise at fastest pace since 1987 Mortgage Rates Rise at Fastest Pace of 2015 – Conforming 30yr fixed rates of 3.625% remain widely available for top tier scenarios. Up until yesterday, 3.5% was getting very close in terms of prevalence, but today’s weakness changed that.Report: FHA should lower loan limits Loan limits may be lowered even further for FHA-insured loans. the administration said in a report to Congress last month. Also, Fannie Mae and Freddie Mac should gradually raise their minimum to.Fannie Mae: Consumers think it’s easier than ever to get a mortgage Fed minutes: “housing sector generally remained slow” hsbc yanks massive phh mortgage servicing portfolio hsbc yanks Massive PHH Mortgage Servicing Portfolio It appears that PHH Corp. has a subservicing problem on its hands, as for the second time in four months, the company is about to lose a large portion of its mortgage subservicing portfolio.Fed minutes reaffirm patient approach to interest rates in. – · The Federal Reserve on wednesday released minutes from its two-day policy meeting on March 19-20. The Federal Reserve on Wednesday released minutes from.People in Congress and the Trump administration keep repeating – lately with added emphasis – that something must be done about Fannie Mae and Freddie Mac, the giant mortgage banks that have been.
Lending Reverse Are more borrowers really taking out non-agency reverse mortgages? Originators weigh in Lenders say interest has spiked, but data is lacking. LOs in the field chime in
There are also a lot of potential borrowers out. more investors to the product. We’re also seeing some new products being securitized. There’s a growing interest in various investor loan programs,
Meanwhile our non-agency portfolio again. initiatives on the part of some mortgage originators, especially some of the non-bank originators to bring down the cost of the entire refinancing process.
DataQuick finds increase in sales of high-end homes in 2010 Bay Area home sales post weak june figures as tax credits fade. July 15, 2010. according to the real estate research firm MDA DataQuick of San Diego. That was an increase of 1.3% from May, but a 3.1% decline from June 2009. The month-over-month increase was also more than half below the.20 Years Later, DocMagic Reflects on eMortgage Evolution It’s been twenty years since the now-ubiquitous e-doc provider DocMagic first began, DocMagic Reflects on emortgage evolution. 20 years Later, DocMagic Reflects on eMortgage Evolution.
Government regulation of reverse mortgage lending has evolved significantly over the last three to ten years. Where lenders and brokers once had the freedom to exploit these products the same as they would a traditional buyer’s guide mortgage, the Federal Housing Administration and other government entities have been working to maintain the original intent of [.]