CBO projects FHA to lose $7 billion in 2024 receipts; budget cuts could impact reverse mortgages

The Federal Housing Administration (FHA) faces a potential loss of roughly $7 billion in receipts in 2024, and a failure by Congress to come to terms on certain spending agreements could force across-the-board cuts to non-defense spending of roughly 5-to-9%.This is according to a letter published th
Read MorePennymac TPO hires former Citizens Bank mortgage executive

California-based Pennymac Financial Services has hired Kristy Dickey, a former executive at Citizens Bank, as first vice president of TPO sales.Dickey will be responsible for growing the lender’s broker division and support its brokers and non-delegated partners, the firm said.A total of five addit
Read MoreOlder Americans could become their children’s ‘biggest expense’ in coming years, says aging advocate

The seniors who are often the parents of Generation X and Generation Y (millennials) could become a pronounced expense for their kids in the coming years, but adult children also want to see their parents successfully age in place.This is according to a commentary from Sarita Mohanty, president and
Read MoreAfter facilitating $347B in sales, RON firm Proof (formerly known as Notarize) looks to California

Since its founding in 2015, remote online notarization (RON) platform Proof, formerly known as Notarize, has helped sellers and buyers close $347 billion worth of real estate transactions, according to an announcement on Friday.While the firm is pleased with this milestone, it has its sights set on
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