Fannie Mae has followed the Department of Housing and Urban Affairs in trying to clamp down on referral fees for reverse mortgages.

Lenders this week received notice that Fannie Mae would no longer buy reverse mortgages from lenders that have business arrangements with third parties who charge referral fees for the loans.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.