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REO News

Friday Round-Up: Are Big Banks Getting Back into Reverse?
In case you missed it… here’s what happened in reverse mortgage news this week.  Are Big Banks Getting Back into Reverse Mortgages?—RMD poses this question now that several recent rule changes are under way, setting a new stage for reverse mortgage lending.  Mortgage Prof. Rolls Out Alternative Approach to Reverse Mortgage Counseling—The Mortgage Professor, a.k.a. […]

The ‘Healthiest’ Housing Markets for Home Equity
As the national housing market continues to recover from the worst financial crisis in recent history, some cities are standing out as the “healthiest” markets for home equity, a recent analysis suggests. In determining the healthiest housing markets in the U.S., WalletHub compared 25 of the largest metropolitan, as defined by the American Housing Survey, […]

Dodd-Frank Mortgage Rules Forcing Banks to Cut Services
Nearly half of all banks have had to reduce their offerings of financial products and services because of growing regulatory compliance burdens, new data show. A combined 46.3% of respondents said their bank had cut offerings for loan accounts, deposit accounts, or other services because of regulatory effects, according to the American Bankers Association’s 2015 Survey […]

Ocwen, Nationstar Rank Lowest For Mortgage Servicing Satisfaction
Despite being two of the largest reverse mortgage players, Ocwen and Nationstar receive some of the lowest marks for their customer satisfaction when it comes to their forward servicing customers. Nationstar is a current servicer of reverse mortgages while Ocwen is the parent company of originator Liberty Home Equity Solutions.* The two companies received some […]

Reverse Mortgage Lenders Hiring LOs, Underwriters and More—Apply Today
Job demand for a variety of reverse mortgage professionals continues to hold steady this summer, with lenders nationwide now offering an assortment of positions to help grow their originations teams and more. In this week’s jobs listing, Willow Bend Mortgage, Southern Trust Mortgage, HighTechLending and Reverse Mortgage Funding are just a few lenders looking to […]

New Reverse Mortgage Rules Are a ‘Breath of Fresh Air’ for Small-Shop Players
Three months have passed since implementation of the Financial Assessment, and many industry members are keeping a close watch on reverse mortgage volume to assess the new rule’s impact. But despite poll data suggesting the Financial Assessment (FA) may be negatively impacting reverse mortgage volume more than originally anticipated, smaller lenders say the FA is having […]

ABC Action News: Reverse Mortgages Have Changed for the Better
Reverse mortgages may have suffered from negative perceptions over the years, but program updates have since changed these financial products for the better, according to ABC Action News Tampa. “The reverse mortgage’s reputation suffered hits over the years for high interest rates and sad stories of people who ended up worse off,” said ABC Action […]

Government Watchdog Examines Effect of CFPB’s Qualified Mortgage Rules
After ongoing industry discussion around mortgage regulations set by the Consumer Financial Protection Bureau defining “qualified mortgage” and “qualified residential mortgage” as requirements of all new mortgage loans, the new rules have been in place for more than a year. But now, the Government Accountability Office (GAO), a government watchdog that often conducts analysis on […]