July 27th, 2009 | by John | published in 1st Reverse, News, Reverse Mortgage
Earlier today Wilmington Savings Fund Society, FSB announced it was winding down 1st Reverse Financial Services, its reverse mortgage subsidiary in the third quarter. Effective at the end of business on July 31st, 1st Reverse will no longer accept any new loan applications from the company’s network of retail loan originators and wholesale lending partners. [...]
July 27th, 2009 | by John | published in 1st Reverse, News, Reverse Mortgage
WSFS Financial Corporation, the parent company of WSFS Bank, reported a quarterly loss per common share of $0.50 and net loss of $2.3 million compared to diluted earnings per common share of $1.07 and net income of $6.7 million for the second quarter of 2008. Included in its earnings announcement is that it’s conducting an [...]
July 27th, 2009 | by John | published in Marketing, News, Reverse Mortgage, Training
Reverse Mortgage Daily and Sam Collins are presenting another free training session on Wednesday, August 5, 2009 at 2pm EST where Sam will discuss how you can attract new HECM Purchase business. Sam will review a HECM Purchase presentation that targets realtors as well as an eye opening power point presentation. He will also review [...]
July 24th, 2009 | by John | published in FHA, Legislation, News, NRMLA, Reverse Mortgage
The House Appropriations Committee’s bill could lower the amount of money available to seniors using the FHA insured reverse mortgage product but the 162 page bill looks like it will extend the increased lending limit of $625,500 through FY 2010.
July 24th, 2009 | by John | published in News, Reverse Mortgage
Interesting article from the Wall Street Journal about how many baby boomers are re-evaluating their retirement plans and find that they’re forced to leave less or god forbid nothing to their heirs. Being in the reverse mortgage business, we often get pushback from borrowers heirs about how using a reverse mortgage will deplete any money [...]
July 24th, 2009 | by John | published in News, Reverse Mortgage, Reverse Mortgage Jobs
Below are a few of the new jobs posted to Reverse Mortgage Jobs Online: Reverse Mortgage Originator (Nationwide) iReverse Home Loans Reverse Mortgage Careers (Multiple) Equitable Reverse Mortgage Company Reverse Mortgage Loan Associate NY (NY Metro) Agency for Consumer Equity Mortgages, Inc. Reverse Mortgage Originator (Nationwide) Sun Valley Financial of Utah Inc Reverse Mortgage Originator – Virtual Banker (Nationwide) Reverse [...]
