Consumer advocates raise concerns about reverse mortgage servicing

The vast majority of reverse mortgages in the U.S. are federally insured loans known as Home Equity Conversion Mortgages (HECMs), which represent a tiny fraction of the mortgage market. The Federal Housing Administration (FHA) has insured about 1.3 million HECMs since 1990. By contrast, the Mortgage Bankers Association estimates that some 13.5 million purchase and…...