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Reverse Mortgage Daily

MBA lays out proposed changes for federal reverse mortgage programs

FHA, Ginnie Mae, HECM, HMBS, HUD, HWmember, LendingLife, Mortgage Bankers Association, Reverse, Reverse Mortgage Daily /

The Mortgage Bankers Association (MBA)’s proposals to reform federal reverse mortgage programs include seven key recommendations — ranging from the creation of a new securitization option to charging insurance premiums based on the actual amount drawn.  In October, the U.S. Department of Housing and Urban Development (HUD), the Federal Housing Administration (FHA) and Ginnie Mae […]

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FOA maps next steps after PHH reverse asset acquisition

Finance of America, HWmember, Liberty Reverse Mortgage, Mergers and Acquisitions, MSRs, Onity Group, PHH Mortgage Corp, Reverse, Reverse Mortgage Daily /

Onity Group, the parent company of PHH Mortgage Corp. and its reverse mortgage arm, Liberty Reverse Mortgage, announced this week that it has chosen to stop originating reverse mortgages. Instead, Onity said it’s selling almost all of its reverse mortgage business to Finance of America (FOA). PHH is selling reverse mortgage servicing rights (MSRs) for

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PHH Mortgage will halt reverse originations, sell MSRs to Finance of America

Finance of America, HWmember, Liberty Reverse Mortgage, MSRs, Onity Group, Partnerships, PHH Mortgage Corp, Reverse, Reverse Mortgage Daily /

Onity Group — the parent company of PHH Mortgage Corp. and its reverse mortgage arm, Liberty Reverse Mortgage — announced on Tuesday that the company has entered into a “strategic relationship” with Finance of America (FOA) to sell $9.6 billion in mortgage servicing rights (MSRs), among other agreements. A press release said that PHH/Liberty will

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Hometap continues to fight ‘illegal reverse mortgage’ lawsuit in Massachusetts

Home Equity, Hometap, HWmember, Lawsuit, Legal, Massachusetts, Massachusetts Division of Banks, Reverse, Reverse Mortgage Daily /

A lawsuit filed earlier this year by the state of Massachusetts against home equity investment (HEI) provider Hometap is being allowed to proceed after a ruling in August by a Suffolk County Superior Court judge. And the parties made new filings in court last week as they attempt to convince the court of the merits

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Longbridge posts $8.6M profit, record proprietary reverse volume

Earnings, Ellington Financial, HWmember, LendingLife, Longbridge Financial, Mortgage Servicing, Reverse, Reverse Mortgage Daily /

Ellington Financial reported strong financial performance from its reverse mortgage subsidiary, Longbridge Financial, during its third-quarter earnings call on Thursday. Longbridge posted net income of $8.6 million from July through September — down from the $10.7 million profit it achieved in the second quarter but a continuation of a positive trend after its $1 million

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NRMLA backs Gormley and Cassidy for key housing roles

NRMLA backs Gormley and Cassidy for key housing roles

FHA, Ginnie Mae, Government Lending, HUD, HWmember, Mortgage, NRMLA, Politics, Reverse Mortgage Daily, Senate /

The National Reverse Mortgage Lenders Association (NRMLA) and other trade groups issued statements of support this week as they seek to have the Senate confirm two key leaders to federal housing posts. The letters reference President Donald Trump’s nominations of Joseph Gormley as president of Ginnie Mae and Frank Cassidy as commissioner of the Federal

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Unison settles lawsuit after HEI product ruled to be reverse mortgage

Colorado, Home Equity, Hometap, Lawsuit, Legal, Massachusetts, Reverse, Reverse Mortgage Daily, Unison, Washington /

A legal battle over the validity of home equity investments (HEIs) and whether they should be classified as reverse mortgages has come to an end in Washington state. Unison, one of the nation’s leading providers of HEI products, settled the case with plaintiffs Charles and Janine Olson, according to court documents reviewed by HousingWire’s Reverse

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Senior homeowner wealth hits new record high of $14.4 trillion

Home Equity, HWmember, ICE Mortgage Technology, Mortgage, NRMLA, Reverse, Reverse Mortgage Daily, RiskSpan /

U.S. homeowners 62 and older saw their housing wealth grow by 4% in the second quarter of 2025 to a total of $14.39 trillion. That’s according to the latest quarterly report released Friday by the National Reverse Mortgage Lenders Association (NRMLA) in conjunction with data analytics firm RiskSpan. The previous record for senior-held home equity was $14.18 trillion

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Longbridge talks new tech tools at NRMLA meeting

Artificial Intelligence, HELOCs, HWmember, Longbridge Financial, NRMLA, Reverse, Reverse Mortgage Daily, Technology, Wholesale Lending /

Executives from Longbridge Financial gathered last week at the National Reverse Mortgage Lenders Association (NRMLA)’s Annual Meeting to discuss the company’s suite of technology tools and lending products aimed at helping wholesale reverse mortgage partners grow their businesses and better serve older homeowners. Wholesale and correspondent manager Bill Nolan opened the company’s session at the event by

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Reverse mortgage industry urged to elevate standards, shift perceptions at NRMLA meeting

Housing Market, HWmember, NRMLA, Reverse, Reverse Mortgage Daily /

At the annual National Reverse Mortgage Lenders Association (NRMLA) meeting, financial advisor and trainer Ryan Ponsford urged reverse mortgage professionals to strengthen their credibility and collaboration with financial advisors, saying the industry’s future depends on shifting perceptions and elevating professional standards. Ponsford, drawing on nearly three decades in the financial services sector, opened with anecdotes about industry

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