Account Login
Unknown browser not supported

REO News

Wells Fargo Closes Book on Reverse Mortgages with Final Servicing Transfer
Wells Fargo (NYSE: WFC) will complete the transfer of all remaining reverse mortgages in its servicing portfolio to Champion Mortgage on September 1, ending an era in the Home Equity Conversion Mortgage industry. The two parties agreed to the transfer of about 80,000 HECMs — the last remaining in Wells Fargo’s portfolio — back in […]

Nationstar Mortgage Officially Rebrands as ‘Mr. Cooper’
More than a year after first internally announcing the name change, Nationstar Mortgage Holdings Inc. (NYSE: NSM) on Monday officially rebranded its operations as “Mr. Cooper.” The Coppell, Texas-based lender and servicer — which services reverse mortgages under the Champion brand — embarked on the unorthodox name change in order to put a more personal […]

Answer to LIBOR Issue Written in Reverse Mortgage Notes, Questions Remain
When British banking authorities in July announced the eventual death of LIBOR, the reverse mortgage industry was faced with the long-term task of replacing the backbone benchmark for adjustable-rate Home Equity Conversion Mortgages. While much can change between now and LIBOR’s planned trip out to pasture in 2021, the solution to one problem might be easier than […]

Weekly Round-Up: HECM for Purchase Workaround, Retirement Shocks
In case you missed them the first time around, here’s our weekly look at the top stories from the Home Equity Conversion Mortgage world, including one lender’s unique plan to avoid HECM for Purchase transaction delays and a Forbes take that generated some lively discussion. Lender Finds Creative Fix for HECM for Purchase Hurdle — Frustrated […]

Financial Assessment Continues to Reduce Reverse Mortgage Defaults
The introduction of Financial Assessment regulations in 2015 brought new challenges to the reverse mortgage industry, instituting an extra set of steps for potential borrowers and putting a dent in origination numbers. But based on pre- and post-FA data, the now two-year-old regulation appears to be achieving the Federal Housing Administration’s goals of reducing defaults. […]

What Retirees Can Learn from Minesweeper
Earlier this week, a quick recap of a Forbes article about retirement risk — one in which the author claimed that reverse mortgages are products of “last resort” — generated some lively discussion in the Reverse Mortgage Daily comment section. The thrust of the Forbes article was that Home Equity Conversion Mortgages are one form […]

RMS Parent Receives Second Warning from NYSE
Embattled mortgage servicer Walter Investment Management Corporation (NYSE: WAC) received a second de-listing notification from the New York Stock Exchange, this time over a dwindling market capitalization. The Fort Washington, Pa.-based Walter — which services reverse mortgages through its Reverse Mortgage Solutions arm — has seen its market capitalization sit below $50 million for 30 […]

Why It’s Time to Look at Men’s and Women’s Retirement Finances Separately
Much of retirement planning is predicated on household wealth — which, in the United States and especially among members of the Greatest Generation and baby-boom cohorts, has traditionally meant money controlled by married couples. But a new study suggests that long-term changes in behavior, even among boomers, could signal that it’s time to separate the […]