Following the departure of Wells Fargo from the reverse mortgage retail business, many lenders across the company are ramping up their origination teams. If you are seeking an employer that provides reverse mortgage leads or if you’re an experienced originator, check out the following job opportunities. Reverse Mortgage Loan Officer (San Diego) EquiPoint Financial Network, Inc. [...]

Independent mortgage banks and subsidiaries saw profits decline significantly in the first quarter of 2011, likely due to increased refinance activity in the fourth quarter of 2010, says a Mortgage Bankers Association study released this week. The average profit per loan in the first quarter fell 68% to $346, according to the study, a sharp [...]

The decision by Wells Fargo to close down its retail reverse mortgage business shocked the industry and continues to send a ripple effect to smaller banks, other lenders and brokers whose businesses are positioned to change—and benefit—as a result. With many questions lingering from the composition and impact of a financial assessment from HUD that [...]

It is good to see that several in the industry are attempting to determine the trend in endorsements based on the only known reliable source for the information: HUD. Each of us has her or his own interpretation and it is now time to chime in. Projection For those readers who like getting to the [...]

A 3.1% national increase in reverse mortgage endorsements this year has masked volatility somewhat in the top ten states for reverse mortgages, notes Reverse Market Insight in its latest newsletter. The “volatile” rate changes seen in some states, counties, and cities have led to the top 10 states’ growth rate remaining slightly above the national average, [...]

HomEquity Bank, a subsidiary of HOMEQ Corporation, Canada’s largest reverse mortgage lender, has grown minimally larger after taking over the remaining portfolio of reverse mortgages funded by Canadian operation Seniors Money International (SMI). HomEquity says it will maintain administration of the portfolio, which rests at just under $4 million, and will continue to service SMI’s existing clients [...]