Review Mortgage Lenders

Aci Mortgage

How Serious Would a Criminal Indictment Against Goldman Sachs Be?‎

court deems its mortgage market shorting strategy as "material information" that investors should have been provided when Goldman sold ...

Ellie Mae (ELLI) Reaches $86.43 After 3.00% Up Move; Aci Worldwide Has 1.07 Sentiment

ACI Worldwide, Inc. develops, markets, installs and supports a line of software services and products primarily focused on facilitating electronic payments. The company has market cap of $2.67 billion. The Firm also distributes or acts as a sales agent for software developed by third parties. It has a 107.57 P/E ratio. The Company’s services and products are used principally by financial institutions, retailers, billers and electronic payment processors, both in domestic and international markets.

Since February 7, 2017, it had 0 insider purchases, and 42 selling transactions for $21.27 million activity. Corr Jonathan sold $235,096 worth of stock. 1,495 Ellie Mae Inc (NYSE:ELLI) shares with value of $161,187 were sold by LaVay Matthew. Another trade for 67 shares valued at $7,138 was sold by BROWN BRIAN E.. $161,153 worth of Ellie Mae Inc (NYSE:ELLI) was sold by HIRSCH PETER. Another trade for 1,208 shares valued at $132,593 was sold by BLASING KAREN. Shares for $132,550 were sold by DOLAN A BARR. Another trade for 1,400 shares valued at $153,612 was made by Levinson Marina on Friday, May 26.

DOJ's False Claims Act focus shifts to reverse mortgage servicers

"Not only hasn't it gone away but the DOJ is now looking to the next set of companies for potential liability," he added.

That may be why the DOJ has stepped up action against servicers of Home Equity Conversion Mortgages, the FHA's reverse mortgage program.

"HUD has very detailed servicing requirements on Home Equity Conversion Mortgages," said Krista Cooley, another partner at Mayer Brown. "And some of the servicing requirements that apply specifically to HECM loans have translated into False Claims Act risk for some servicers. So it is really important for servicers to get things right."

For example, when a reverse mortgage borrower dies or vacates the property for more than a year, the Department of Housing and Urban Development requires the servicer to obtain an appraisal within 30 days of the reverse mortgage becoming due and payable. The appraisal allows HUD and the lender to agree on the home's value and decide whether to proceed with foreclosure, engage in a workout, or deal with estate rights issues. Servicers that miss the 30-day appraisal deadline are not entitled to interest that accrues after the loan becomes due.

What happens to the balance in debt forgiveness?

The situation is my mother-in-law has a house that she owns. She took out a loan and a mortgage on the house for repairs. Those were consolidated by Citi Financial.


She could very well end up with a 1099-C taxable income amount for the tax year to be reported on her 1040 income tax return for the tax year.