A federal appeals court has sided with Ginnie Mae in a dispute over reverse-mortgage collateral, delivering a consequential ruling for banks and other lenders financing issuers of government-backed mortgage securities.In a decision issued October 9, the U.S. Court of...
The federally insured reverse mortgage market lost more ground in September, with endorsement volume falling to its lowest monthly level since the early months of the pandemic and secondary-market issuance also retreating.Home Equity Conversion Mortgage endorsements...
Toronto-headquartered Bloom Finance Company Ltd. has rolled out SafeRate, which is being promoted as Canada’s first reverse mortgage with a lifetime fixed interest rate. According to the company, the new product is designed to protect seniors by eliminating...
A former attorney in Tacoma, Washington, pleaded guilty to wire fraud that included embezzling an elderly client’s reverse mortgage-funded trust account. According to records filed in the case, in 2010 Colby Parks became the trustee for a living trust designed to pay...
The Consumer Financial Protection Bureau (CFPB) ordered three reverse mortgage servicing companies to cease operating in their industry, citing what the regulator described as “illegal activities that harmed older homeowners and caused them to fear losing their...
Barings Buys $66.2 Million Orange County Retail Center as Grocery-Anchored …
