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Sun American Mortgage - Reverse Mortgage Lender

Sun American Mortgage is a lender, seller and servicer of the government insured Reverse Mortgage. Over twenty years ago, we closed the first ...

M&A rumor mill: Who will Finance of America and RPM buy next?

RPM could be looking to expand its success after  Standard & Poor's   placed its U.S. residential mortgage originator ranking at "Above Average" for the third straight year after it reviewed the company’s origination process for prime residential mortgages, including conventional, government agency and jumbo loans.

It wouldn’t be the company’s first acquisition. Back in 2014, it acquired Regency Mortgage , a 14-branch private mortgage lender with operations in New Hampshire, Maine, Massachusetts, Vermont and Florida.

However, RPM denied the alleged acquisition. "RPM Mortgage is not in a deal with AFN Corp," said Julian Hebron, RPM executive vice president of sales and marketing in an email to HousingWire

But that’s not the only acquisition buzz right now. Industry sources also report that Finance of America , a national, full service mortgage banker, is finalizing two purchases of national lenders. Sources say they will announce the acquisition in the beginning of September.

HARP Extended; Continued Conventional Conforming Changes

. To preview Fannie Mae's new high LTV refinance option, read the  fact sheet ; detailed requirements will be provided in a future lender communication although it is believed that the program is more targeted than HARP and, unlike HARP, can be used more than once by eligible borrowers. Existing HARP loans, however, will not be eligible for the new program.

The Fannie Mae  Post-Purchase Adjustment (PPA) Data Change Rules Matrix  was recently enhanced featuring easier navigation and a simpler look and feel. In this update, documentation requirements were streamlined for certain data attributes and Special Feature Codes (SFCs).

This Exhibit  provides the new Fannie Mae Standard Modification Interest Rate required for all Fannie Mae conventional mortgage loan modifications, excluding Fannie Mae HAMP Modifications.

DU Version 10.0 is coming to town the weekend of September 24. DU Version 10.0 The integration testing environment has opened for testing of DU 10.0 and integration customers have been notified. Find more information about DU 10.0 on the  DU web page .