Sutherland and NOVAD formed a servicing operation in 2014 that won a contract to service reverse mortgages for HUD. The companies remained reverse-mortgage servicers until near the end of 2022.
Correspondent sales of government-insured mortgages originated during 2023 declined somewhat on an annual basis, but Veterans United upped its sales by 7.3%. (Includes data table.)
Improvements to the FHA home equity conversion mortgage program will help seniors maintain housing stability and financial security in retirement, according to Urban Institute’s Amalie Zinn.
Total issuance of Ginnie Mae mortgage-backed securities declined slightly during the first quarter of this year. Still, volume was up sharply from the first three months of 2023. (Includes four data tables.)
The class action seeks to incorporate all FHA borrowers who are owed an unclaimed refund on mortgage insurance premiums due to early termination of their loans.
Congressional lawmakers next week are expected to take up legislation meant to finalize fiscal 2024 funding bills before the latest continuing resolutions lapse.
Reverse mortgage lenders funded $3.95 billion in new home equity conversion mortgages in the third quarter, a 17.9% increase from the previous period. Year to date, though, HECM endorsements lagged.
Endorsements of FHA and VA insured loans increased by 9.2% in the third quarter while total first-lien originations declined. (Includes three data tables.)
Some $30.43 billion in Ginnie Mae mortgage-backed securities was issued last month. FHA volume held up better than VA activity. (Includes two data tables.)
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