AARP’s legal battle against wrongful reverse mortgage foreclosures has shifted from government regulators to lenders. The AARP Foundation Litigation unit filed a class action lawsuit yesterday against Wells Fargo Bank and the Federal National Mortgage Association (Fannie Mae), charging that they failed to allow surviving spouses and heirs of reverse mortgage borrowers to purchase the property for the appraised value after loans came due — typically after the borrower’s death.
0 minute readAARP sues Wells Fargo, Fannie Mae over reverse mortgage foreclosure
August 5, 2011, 7:51pm
Liz is a career journalist, and currently a senior editor with Charles Schwab. She joined HousingWire briefly in mid-2011 though early 2012.see full bio
Most Popular Articles
Latest Articles
HousingWire Mortgage Rankings have arrived, bringing data-driven benchmark to originator performance
HousingWire on Tuesday announced the launch of the HousingWire Mortgage Rankings, a new performance intelligence product designed to provide a clear, data-driven view of mortgage origination activity across the U.S. The rankings benchmark mortgage originators based on observed production, offering a standardized view of performance across geographies, loan types and channels. Historically, the mortgage industry has lacked […]
Liz is a career journalist, and currently a senior editor with Charles Schwab. She joined HousingWire briefly in mid-2011 though early 2012.see full bio
