A bill introduced in the New Jersey Senate would require face-to-face counseling for the state’s reverse mortgage transactions and would nullify any loans originated without proof of such counseling having taken place. The bill is currently awaiting deliberation in the state Senate’s commerce committee. The bill, S2520, would also offer a seven-day right of rescission […]
Finance of America Companies (FOA), parent company of reverse mortgage industry-leading lender Finance of America Reverse (FAR), was notified for the second time on Feb. 12 by the New York Stock Exchange (NYSE) that it was not in compliance with the exchange’s continued listing standard. This is according to an announcement from FOA issued on […]
Three sources, who have asked to remain anonymous, have confirmed to HousingWire that the National Association of Realtors (NAR) has run out of liability insurance funds. The news about NAR’s insurance predicament began circulating late Wednesday, with industry analyst Rob Hahn highlighting the news in the Thursday edition of his email newsletter NotoriousROB. “NAR’s insurance […]
Democratic Sens. Amy Klobuchar (Minn.) and Tim Kaine (Va.) have reintroduced their Housing Supply and Affordability Act to the U.S. Senate in the hope of
Retired couples who are Medicare beneficiaries could need as much as $413,000 saved to cover medical expenses in the latter stages of life, an increase
The Federal Housing Administration (FHA) on Friday announced that it has published a new final rule that eliminates a current requirement for lenders to register
With ongoing liquidity challenges and a continuing lag in Home Equity Conversion Mortgage (HECM) case numbers, reverse mortgage business in 2024 started off with a
Today we got a jobs Friday hat trick! Better headline jobs were reported, with positive revisions and more robust wage growth, which caught bond traders
Most of last year’s top-producing loan officers at Draper and Kramer Mortgage Corp. (DKMC) are not transitioning to the company’s acquirer, New American Funding (NAF),
How will mortgage rates impact seasonal inventory in 2024? Is the seasonal bottom going to happen later than I want? Maybe. It’s not what I wanted to see in 2024, but I have to be realistic since we are already in February. In the last four years, we have had
Democratic Sens. Amy Klobuchar (Minn.) and Tim Kaine (Va.) have reintroduced their Housing Supply and Affordability Act to the U.S. Senate in the hope of establishing a new grant program that would fund local government efforts to develop and implement housing policy plans. Announced on Thursday, the proposed bill would
Retired couples who are Medicare beneficiaries could need as much as $413,000 saved to cover medical expenses in the latter stages of life, an increase over the previous year’s estimate of $383,000. This is according to new findings from the Employee Benefit Research Institute (EBRI). The figure is the “predicted
The Federal Housing Administration (FHA) on Friday announced that it has published a new final rule that eliminates a current requirement for lenders to register the branch offices where they conduct FHA Title I or Title II mortgage loan originations. By removing these requirements, FHA hopes to involve more community-based
With ongoing liquidity challenges and a continuing lag in Home Equity Conversion Mortgage (HECM) case numbers, reverse mortgage business in 2024 started off with a bit of a whimper. Both HECM endorsements and HECM-backed securities (HMBS) issuance saw modest declines in January, although four of the top 10 HECM lenders
Today we got a jobs Friday hat trick! Better headline jobs were reported, with positive revisions and more robust wage growth, which caught bond traders off guard and sent bond yields and mortgage rates higher today. Now, we do have some quirky seasonality issues with this report, but as I have