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After the reverse mortgage industry’s key performance metrics rallied in May, June fared slightly worse than previously telegraphed by case number assignments. Home Equity Conversion Mortgage (HECM) endorsements fell by 14.4% in June to 2,105, while HECM case numbers for May dropped 7.9% to 3,214. This is according to data…
Continue reading →The Consumer Financial Protection Bureau (CFPB) last month issued an enforcement order against former Home Equity Conversion Mortgage (HECM) servicing contractor NOVAD Management Consulting and subcontractor Sutherland Global for what the bureau called “illegal activities that harmed older homeowners and caused them to fear losing their homes.” An attorney said…
Continue reading →Amid the greenery of suburban Maryland, Legacy at Twin Rivers is an unassuming apartment building, with clean, modern design and a pleasant landscape that you might mistake for any new, market-rate rental property in the area. And that’s the point. At a time of skyrocketing housing costs, rising interest rates,…
Continue reading →Limited inventory and high mortgage rates continue to push home prices higher, but the pace of growth is starting to slow down. That’s according to the monthly home price index report from CoreLogic, which shows that U.S. home prices grew by 4.9% year over year in May. That was the…
Continue reading →While many had hoped the Department of Justice’s interest in the real estate industry would wane with the business practice changes outlined in the National Association of Realtors’ commission lawsuit settlement agreement, that is clearly not the case. In a message on Realtor Hub, a forum for NAR members, trade…
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