The Star Tribune has been publishing back and forth commentary on the decision by Minnesota Govenor Tim Pawlenty’s decision to veto a reverse mortgage bill earlier this year which would’ve driven up the costs of the loans to consumers in the state. It started with the Lori Swanson, the states Attorney General, who wrote Reverse-mortgage [...]

Security One Lending and Texas Capital Bank have agreed to double the size of its existing warehousing facility said a company statement.  The increase funding capacity comes at a time when Security One Lending has doubled it business since early March with the acquisition of OMNI reverse mortgage.   “Texas Capital Bank has been a tremendous [...]

The Reverse Mortgage Association for Loan Officers, (REMALO) announced the launch of its new senior community Reverse Talk.  The website is a free micro blogging membership site designed for the reverse mortgage community said a company statement. “Reverse Talk gives reverse mortgage professionals and service providers the ability to communicate instantly with one another,” said [...]

The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General, audited Financial Freedom Senior Funding Corporation (Financial Freedom) and found that they did not fully follow HUD’s reverse mortgage requirements for loans in the San Antonio, Texas area.  According to the report, Financial Freedom generally followed HUD reverse mortgage requirements for the [...]

Hopkins Federal Savings Bank announced that is has established iReverse Home Loans, a retail reverse mortgage subsidiary in Owings Mills, Maryland. Senior management at Hopkins Federal Savings Bank had been closely monitoring the reverse mortgage industry for numerous years and teamed up with Kenneth J. Klawans, a Certified Senior Advisor and 20-year mortgage and banking [...]

Its no secret that the current economic crisis is having a lasting impact on many older Americans, forcing them to make difficult financial decisions due to having such little time and resources available to recover from losses in their retirement portfolio. A new survey conducted with United Sample, in partnership with Golden Gateway Financial that [...]