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FHA finalizes updates to reverse mortgage debenture interest rates

Housing Wire

19, 2017, which went into effect later that year. 19, 2017,” FHA said in its announcement. The rule also reaffirms the interest rate used for the payment of debenture interest for HECM claims to align with the January 2017 rule. HERMIT was launched by HUD in October 2012 after a protracted development cycle.

Mortgage 459
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LoanSnap loses mortgage lender license in Connecticut

Housing Wire

Struggling fintech LoanSnap had its mortgage lender license in Connecticut revoked in early October by state authorities, adding to the company’s legal and financial problems. The firm was first licensed to do mortgage business in Connecticut in January 2021 and applied for a renewal in December 2023.

Mortgage 418
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LoanSnap troubles continue as California revokes its lender license

Housing Wire

Founded by Karl Jacob and Allan Carroll in 2017, LoanSnap raised $100 million in seed funding from investors such as Richard Branson’s Virgin Group ; former NFL star Joe Montana’s Liquid 2 Ventures ; and LinkedIn co-founder Reid Hoffman.

Landlords 448
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States Pushing Shared Housing Reforms to Tackle Affordability

Appraisal Buzz

Key Developments In 2024, Colorado, Hawaii, and Washington joined the growing list of states addressing affordability through shared housing legislation. In Washington, where rents climbed 42% between 2017 and 2023, H.B. By reducing parking mandates for these projects, Hawaii makes such developments more financially feasible.

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Cenlar FSB taps co-CEOs to replace Greg Tornquist

Housing Wire

Chief Operating Officer Rob Lux was named co-CEO for operations, technology, business development, client management, human resources, and legal. Lux joined the company in 2017 as the chief information officer and was named chief operating officer two years later. year over year, according to Inside Mortgage Finance data.

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ALTA shakes up leadership team with staff promotions

Housing Wire

Blosser has been leading the association’s data privacy efforts since 2017, and led the association’s role in creating model legislation such as the Remote Online Notarization Act , which was drawn up in collaboration with the Mortgage Bankers Association and the National Association of Realtors. Presented by: WFG.

Insurance 314
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Waterfall: Reverse MSR deal with Onity showcases commitment to reverse mortgages

Housing Wire

million deal in 2021 to acquire HECM lender-turned-servicer Reverse Mortgage Solutions (RMS) from its owner, MAM, after a roller coaster of ownership changes and legal disputes following the end of RMS’ time as a reverse mortgage lender in 2017. Onity became involved in reverse mortgage servicing with a $12.4

Mortgage 434