In case you missed it… here’s what happened in reverse mortgage news this week.
Walter continued its push for reverse mortgage servicing… After announcing two major reverse mortgage acquisitions in 2012 and 2013, Walter Investment Management Corp. said it is still seeking additional opportunities in the reverse mortgage space.
Against the vote of Senate Republicans, Cordray will go to a full vote for CFPB director. After months of opposition by Republican members of Congress against the appointment of Richard Cordray to serve as Consumer Financial Protection Bureau director, the Senate Banking Committee this week voted, along party lines, to approve his nomination.
Nationstar expressed reverse mortgage concerns…. After making large plays at reverse mortgage servicing rights among a widespread buy-up of MSRs in general, Nationstar Mortgage (NYSE:NSM) expressed concerns about its portfolio to its investors last week.
… and raised capital toward future MSR acquisitions. Nationstar announced Friday it has priced $200 million in senior notes that will be issued for corporate use including future servicing acquisitions.
Reverse mortgage counseling agencies began to feel a crunch. Reverse mortgage counseling agencies are beginning to feel an influx of demand for counseling as the April 1 deadline approaches for case number assignments before the fixed rate standard reverse mortgage option becomes a thing of the past.
Written by Elizabeth Ecker
