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Monthly Archives: April 2009
Generation Mortgage Reports Volume Up 233%
Generation Mortgage Co.‘s combined wholesale and retail reverse mortgage originations increased 233% in first quarter compared to the first quarter last year, the Atlanta-based company said, even as total industry-wide federal endorsements actually fell by 328 loans. Generation Mortgage closed … Continue reading
Credit Union Closes $5M In Proprietary Reverse Mortgages
A North Carolina credit union has funded more than $5 million in reverse mortgages since launching its own private-label product in August, the lender announced today. Raleigh-based State Employees’ Credit Union has closed 50 reverse mortgages, according to a company … Continue reading
Massachusetts Lenders Need Approval for Purchase HECM
Lenders need prior approval to originate home equity conversion mortgages for purchases in Massachusetts, a Division of Banks spokesman said today. Massachusetts law allows lenders with programs approved by the Division of Banks to make reverse mortgages “to the owner of … Continue reading
Fannie Mae Refinancing Volume Largest Since 2003
Fannie Mae’s (FNM: 0.70 +1.45%) refinancing volume jumped to $77 billion in March, nearly twice the refinancing volume it experienced during the month of February and its largest refinance month since 2003, the company said Tuesday. “The volumes we are … Continue reading