A $48.5 billion budget proposal for the Department of Housing and Urban Development's fiscal year 2011 reflects $6 billion in profit for the Federal Housing Administration as a result of recent policy reforms, HUD said in a statement today. Full Story

Sun West Mortgage Co. said it has securitized $2 billion in Ginnie Mae home equity conversion mortgage-backed securities as a participation agent and issuer. Full Story

WSFS Financial Corp. Full Story

A group is trying to form a New England chapter of the National Reverse Mortgage Lenders Association, according to a Banker & Tradesman article posted by The Reverse Review. Full Story

Mortgage Services III, a Bloomington, Ill.-based subsidiary of First State Bank that has a reverse mortgage division, has hired Brian Boyles as the senior vice president of business development. Full Story

A Maryland-based lender was placed on probation for what the Federal Housing Administration said was misleading reverse mortgage advertising, and other reverse mortgage originators were sanctioned in the latest round of the agency's enforcement of wayward lenders. Full Story

Three index reports show little movement in home prices, according to an article in The New York Times. Full Story

Monthly reverse mortgage wholesale volume declined nearly 17% in November, according to data firm Reverse Market Insight. Full Story

A housing proposal by Rep. Joe Sestak, D-Pa., who is running for U.S. Full Story

The Federal Housing Administration's Mortgagee Review Board has taken enforcement action against another seven lenders, ranging from permanent withdrawal of lending approval to probation. Full Story