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Reverse Mortgage Solutions, Inc. (RMS) and REO Management Solutions, LLC were recently acquired by Mortgage Assets Management, LLC (MAM) as part of a stock and asset purchase transaction entered into with Ditech Holding Corporation. MAM is a mortgage portfolio investment company headquartered in Washington, DC.

REO News

Reverse Mortgage Lender’s Motion to Dismiss DOJ Case Denied by Judge

A reverse mortgage lender accused of allegedly forging certifications and using unqualified underwriters to approve Home Equity Conversion Mortgage (HECM) loans between 2008 and 2010 has had its dismissal motion denied, clearing the way for a trial.

The post Reverse Mortgage Lender’s Motion to Dismiss DOJ Case Denied by Judge appeared first on Reverse Mortgage Daily.


AAG Partners with United Way to Fight Homelessness in Orange County, Calif.

Leading reverse mortgage lender AAG and Orange County United Way have forged a new partnership with the aim of combating homelessness in their local community.

The post AAG Partners with United Way to Fight Homelessness in Orange County, Calif. appeared first on Reverse Mortgage Daily.


Mass. Legislature Extends Reverse Mortgage Counseling Relief, Considers Permanent Fix

The Massachusetts State Legislature has extended a series of relief measures related to the COVID-19 pandemic, adding an additional six months to allow for phone and video-based reverse mortgage counseling. A more permanent measure is under consideration.

The post Mass. Legislature Extends Reverse Mortgage Counseling Relief, Considers Permanent Fix appeared first on Reverse Mortgage Daily.


CFPB Marks World Elder Abuse Awareness Day With New Resources

The Consumer Financial Protection Bureau (CFPB) is marking June 15’s World Elder Abuse Awareness Day with the addition of new educational resources which are designed to combat harmful practices aimed at older Americans.

The post CFPB Marks World Elder Abuse Awareness Day With New Resources appeared first on Reverse Mortgage Daily.


New York State Legislature Passes Bill Allowing Reverse Mortgages on Co-Ops

A new bill aiming to allow reverse mortgages for co-op residents in the state of New York has passed the legislature, but could encounter difficulty in getting a signature from Gov. Andrew Cuomo.

The post New York State Legislature Passes Bill Allowing Reverse Mortgages on Co-Ops appeared first on Reverse Mortgage Daily.


Motley Fool: For Seniors, Home Can Be ‘Unexpected’ Source of Cash

Many seniors may be surprised to learn that there are a few less commonly used sources of cash in retirement, which can include the home through the use of a reverse mortgage according to an article at the Motley Fool.

The post Motley Fool: For Seniors, Home Can Be ‘Unexpected’ Source of Cash appeared first on Reverse Mortgage Daily.


Reverse Mortgage Trade Association Seeks Clarity on New NBS Rules

The National Reverse Mortgage Lenders Association (NRMLA) has submitted a letter to the U.S. Department of Housing and Urban Development (HUD) seeking clarification on recently-announced rules concerning non-borrowing spouses (NBS) in reverse mortgage loans.

The post Reverse Mortgage Trade Association Seeks Clarity on New NBS Rules appeared first on Reverse Mortgage Daily.


Senate Confirms Todman as Deputy HUD Secretary

The Senate has confirmed the new Deputy Secretary of the U.S. Department of Housing and Urban Development (HUD), with representatives from the NHC and NRMLA offering congratulations.

The post Senate Confirms Todman as Deputy HUD Secretary appeared first on Reverse Mortgage Daily.


HUD Offers Statement in Support of Reverse Mortgage Program, Though Questions Remain

The U.S. Department of Housing and Urban Development (HUD) has given perspective on the Home Equity Conversion Mortgage (HECM) program to RMD, though some key questions about the program itself and adjacent issues remain unanswered.

The post HUD Offers Statement in Support of Reverse Mortgage Program, Though Questions Remain appeared first on Reverse Mortgage Daily.


Reverse Mortgages Could Help Retirees Avoid Medicare Surcharges

A reverse mortgage could allow some financial planners to help their clients avoid surcharges associated with Medicare benefits, according to an article at ThinkAdvisor.

The post Reverse Mortgages Could Help Retirees Avoid Medicare Surcharges appeared first on Reverse Mortgage Daily.