[Housing Wire]
Loan servicing is a key but often misunderstood stage of reverse mortgage lending. This week we sat down with Reverse Market Insight CEO and founder John Lunde and Director of Mortgage Servicing Jared Skrabala to learn more.
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Reverse Mortgage Daily’s Chris Clow has complied the biggest developments of 2023 in the reverse mortgage industry. What follows is a summary…
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On December 15th mortgage lending giant Mr. Cooper began notifying 14.7 individuals that their personal information was stolen in a Cyberattack that took place between October 30 and November 1. Roughly 32,000 reverse mortgage borrowers had their bank account information compromised in the incident.
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AARP has joined a class action lawsuit against former reverse mortgage lender Reverse Mortgage Funding (RMF) and loan servicer Celink.
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A recent interview between National Mortgage News’ technology reporter and Celink’s Chief Information Officer reveals how AI is being utilized in the servicing of reverse mortgage loans. Here are a few notable excerpts…
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“When we consider the liquidity options and flexibility they [reverse mortgages] can bring to a long-term retirement plan, they are truly a value play that should be considered.”
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Top-ten HECM lender Open Mortgage announced the closure of their reverse mortgage division citing profitability challenges from…
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While the HECM portion of FHA’s portfolio remains positive its capital ratio has slightly slipped thanks to the program’s extreme sensitivity to home price appreciation and interest rates…
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There’s been much media buzz about ‘AI’ or Artificial Intelligence but where can it be used in the reverse mortgage industry?
Continue readingAfter two years of engagement and feedback from HECM lenders, servicers, consumer advocates, and other housing industry participants the Federal Housing Administration (FHA) released its updated handbook which consolidates HECM policies.
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