Items Tagged with 'HECM SERVICING'


  • Q&A: Celink's Jason McNamara on the challenges facing reverse mortgage servicers

    Why HECM servicing has grown difficult, and what needs to be done about it
    Reverse mortgage servicing differs vastly from traditional mortgage servicing, and thanks to program changes issued over the last two years, it's gotten even more challenging. We spoke with Celink's Jason McNamara, CEO of the nation's largest reverse mortgage subservicer, about the shifting landscape of HECM servicing and the changes he says are necessary to curb losses to the MMI Fund.
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  • Reverse mortgage servicer Celink settles lawsuit for $4.25 million

    Suit alleges Celink wrongfully collected interest on FHA insurance
    Celink settled a federal lawsuit regarding allegations that it violated the False Claims Act in relation to its servicing of reverse mortgage loans. The Michigan-based servicer agreed to shell out $4.25 million to resolve the claim that it wrongfully collected interest on FHA insurance for five years.
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