Category: Mortgage Industry News

In 2023, the industry of reverse mortgages accounted for approximately 1.6% of the total number of mortgage-related grievances received by the CFPB.

In an initiative aimed at expanding cost-effective mortgage availability for prospective homebuyers in the United States, Fannie Mae declared in December that it would substitute title with attorney-opinion letters (AOLs).

This week, a management alert was released by the Office of the Inspector General within the U.S. Department of Housing and Urban Development (HUD). The OIG highlighted the department’s ongoing issue of recognizing “improper payments” linked to its programs, a problem it has faced for an uninterrupted span of 11 years. The Inspector General’s Office is urging HUD’s leaders to confront this persistent difficulty with identification.

Despite the promising prospects for 2024, there remains a necessity for lenders to adopt audacious strategies in order to curb production deficits.

Since the end of 2017, the National Flood Insurance Program (NFIP) has undergone 28 iterations of reauthorization. A section of senators, however, have voiced concerns about the escalating costs of premiums, contending that they have reached levels that are unaffordable for many.

A&D Mortgage, a wholesale lender specializing in non-qualified mortgages (non-QM), has recently procured licenses to initiate loan operations in the states of Arkansas and Mississippi.

While the reverse mortgage sector may be limited in its control over interest rates, it possesses a wealth of marketing strategies, as noted by Chris Moschner. Please keep in mind the name of the source should not be mentioned.

Connecticut’s Department of Banking has issued a temporary stop work directive to LoanSnap. The order was given in response to allegations of mortgage creation operations conducted without the requisite licensing.

Mortgage rates have seen a semblance of stability in the previous week, however, they continue to hover around the tight spectrum that’s been consistent since the month’s beginning.

With leadership roles in a technology firm, a mortgage enterprise, and an advocacy group, Matt Van Fossen offers a distinctive perspective on the integration of technology. This unique viewpoint stems from his simultaneous involvement in these diverse sectors.