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Mortgage News Daily

Training & Events; False Claims Penalty; Lender Products & Services
Posted on Monday October 22, 2018

Posted To: Pipeline Press

Residential mortgage bankers are notoriously bad at actually retiring. They usually seem to come back as teachers, consultants, remodelers, etc. But plenty of people do retire, and per U.S. News the #1 place to retire is... Lancaster, PA ? Bring a sweater. Legal news Eagle Home... Universal American Mortgage Company, LLC, based in Miami and operating as a subsidiary of Lennar Corporation, has agreed to pay the United States $13.2 million to resolve allegations that it violated the False Claims Act by falsely certifying that it complied with FHA mortgage insurance requirements in connection with certain loans. "...between January 1, 2006, and December 31, 2011, UAMC knowingly submitted loans for FHA insurance that did not qualify. The United States further alleged that UAMC improperly incentivized...(read more)

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MBS Week Ahead: Limited Data, Bond Auctions, and More Indecision
Posted on Monday October 22, 2018

Posted To: MBS Commentary

The basic candlestick or bar chart that the average bond analyst uses to track 10yr Treasury yields is doing a good job of capturing the current opposing forces in rates. On the one hand , the combination of economic data, NAFTA 2.0, and Fed comments (among other things) makes a logical case for higher rates. This is easily seen as the pervasive series of "higher lows" over the past 2 months. On the other hand , doubts about the sustainability of lofty economic numbers and doubts about the market's ability to thrive with 10yr yields over 3.25% make a case for support. This can be seen in the less-developed series of "lower highs" leading back from the long-term high 2 weeks ago. The result is the typical triangle--a consolidation pattern where the higher lows and lower...(read more)

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Reverse Daily Mortgage

Seeking Change, Reverse Mortgage Originators Run for Office
Posted on Monday October 22, 2018

As originators determine their overarching plans in the midst of low volume and lower principal limit factors, two reverse mortgage originators have turned their sights to politics. Paul Dilks, a reverse mortgage specialist with Investors Home Mortgage, is running as the Republican candidate for the First Congressional District of New Jersey for the U.S. House […]

HECM Originators Get Creative to Solve Short-to-Close Issues
Posted on Sunday October 21, 2018

As more Home Equity Conversion Mortgage borrowers are short to close since last year’s principal limit factor reductions, originators are getting creative with ways to help their clients who need to bring funds to closing. Most commonly, borrowers find out they are short to close when their mortgage balance is still too high, they must […]