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Michigan attorney general reissues reverse mortgage consumer alert

Housing Wire

The attorney general of Michigan has re-released a consumer alert about the reverse mortgage product category during financial literacy month. The action is designed to inform consumers about the potential pros and cons of taking out these loans, according to an announcement issued by Attorney General Dana Nessel’s office on Monday. “A

Mortgage 369
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Foreclosures are rising, but it’s not yet alarming

Housing Wire

For one, the mortgage servicing industry adopted some COVID-era, rescue-type packages where a house does not go into immediate foreclosure. But more broadly, since the Great Recession in 2008, there has been a greater implementation of standardized loss-mitigation measures designed to prevent a foreclosure crisis.

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Service provider LERETA appoints new CTO 

Housing Wire

In his new role, Bledsoe will be responsible for the company’s technology innovation, design, infrastructure, application management and data service offerings. LERETA is a financial services company that offers a suite of nationwide real estate tax services for residential and commercial mortgages.

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Opinion: More financing options for ADUs are needed

Housing Wire

In the ongoing struggle for attainable housing, one positive development has been the increased availability of funding options for homeowners seeking to incorporate Accessory Dwelling Units (ADUs) into their properties. Under this policy, lenders can include income earned from ADUs when underwriting their mortgage.

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Mr. Cooper exits reverse servicing space with sale to MAM

Housing Wire

Mortgage servicing, origination and transaction-based services company Mr. Cooper Group announced on Tuesday the sale of its reverse mortgage servicing portfolio – operating under the Champion Mortgage brand – to Mortgage Assets Management (MAM).

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Is the GSE’s “Appraisal Modernization” Really Just Mass Appraisal?

Appraiserblogs

Mass Appraisal tend to exhibit a regressive nature… In the intricate landscape of real estate mortgage financing, the notion of appraisal waivers recently dubbed “Value Acceptance”, by the Government Sponsored Enterprises (GSEs), has stirred considerable debate. Despite its roots in a methodology designed to support appraisers, Value.

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26 Reasons to Get an Appraisal

Realvals

By providing an unbiased estimate of a property’s value, an appraisal ensures that you know the real value of your property. Estate planning, property tax appeals, divorces, and gifting, are some of the many others. Mortgage lenders require an appraisal as part of the loan application process.

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