DOJ, Nutter Home Loans reach $2.4M settlement over False Claims Act allegations

The U.S. Department of Justice (DOJ) announced this week that it has secured a $2.4 million settlement from James B. Nutter & Co., aka Nutter Home Loans, to resolve allegations that the lender had underwritten ineligible reverse mortgages to be insured by the Federal Housing Administration (FHA).The

High property taxes in Maine? Mayor says to ‘consider a reverse mortgage’

The mayor of South Portland, Maine, recently acknowledged that property taxes in the region are particularly challenging for those living on a fixed income. When offering advice on how to manage these costs, the mayor brought up the potential for a reverse mortgage.This is according to local reporti

Could mortgage rates end the year below 6%?

After the Federal Reserve lowered benchmark interest rates by 50 basis points last week, mortgage rates continued to move lower, although at a slower pace compared to recent weeks.At HousingWire‘s Mortgage Rates Center on Tuesday, the average 30-year conforming loan rate was 6.25%, down 9 basis poin