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Wildfire damage with a reverse mortgage? Here’s what to do

It’s imperative for reverse mortgage borrowers to contact their insurance carrier if their property has been damaged in the ongoing Southern California wildfires, and to let their servicer know of anything that could impact their occupancy of their property due to the terms of Federal Housing Administration (FHA)-backed reverse mortgage loans. These were the top-line…

HUD settles with PHH over alleged mortgage payment fees that violated FHA rules

The U.S. Department of Housing and Urban Development (HUD) on Monday announced that it has reached a settlement with PHH Mortgage Corp., a division of the Onity Group, over the alleged imposition of fees for borrowers making payments on their mortgages, which is in violation of Federal Housing Administration (FHA) requirements. Describing the settlement as…

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