Reverse mortgages

The outstanding amount that people ages 62 and up hold represented a nearly $15.4 billion gain in property value offset by a record $2.32 billion in borrowing.

The judge also sealed a document in the lawsuit the AARP Foundation joined but the defendants still must produce fee codes in the proposed class action.

The incentives are part of a broader set of Federal Housing Administration servicing changes for Home Equity Conversion Mortgages that also offers some new options for procedures.

If the Federal Housing Administration's rulemaking on home equity conversion mortgages were to go into effect as written, borrower contributions would be reduced by thousands of dollars.

While the company's long-term issuer default rating has slipped a little, affiliates of Blackstone that have a higher one back the reverse mortgage player.

Interest rate increases and economic concerns led the government entity to lower the required amount from $1 million to $250,000.

Borrowers that are couples, and where the female is younger, account for 32.55% of the pool's aggregate unpaid principal balance, the plurality.

While reverse mortgages allow older homeowners the opportunity to draw on home equity with minimal risk, problems arising from flaws in program structure are causing headaches for borrowers and issuers alike, according to recent reports.

This move comes at a time when the largest HECM producer sold its operations to a rival and another filed for bankruptcy.

The Lansing, Michigan-based firm was awarded the contract this spring and takes over from Novad Management Consulting, which had previously serviced government-held HECMs since 2014.