Top-10 reverse mortgage lender Security One Lending has announced it will join forces, effective immediately, with a fledgling broker roll-up that launched earlier this year under the leadership of former Financial Freedom president Bart Johnson and Tony Garcia, CEO of Liberty Street Financial. The broker roll-up, which previously operated the name National Senior Home Equity, [...]

The general market uncertainty surrounding the unresolved debt debate in Washington may not be the worst thing for the HECM investor market, for the moment. With the markets responding to the nation’s debt ceiling problem through volatility, HECM market pricing has shown much less of an impact, namely because of its cash flow profile, says [...]

One Reverse Mortgage announced today it has received approval to issue Ginnie Mae securities through GNMA’s HECM-Backed Securities program. The San Diego-based reverse mortgage division of Quicken Loans is the largest reverse-only lender, and upon the recent exits of Wells Fargo and Bank of America from the business, will assume the second spot for reverse [...]

If the government fails to come to debt limit terms, it could cost the mortgage industry—in a big way. If the debt limit is not raised through government action by the deadline of August 2, the Federal Housing Administration, as a “non-essential” government agency, could go on hiatus as part of an overall government shutdown, [...]

The Government National Mortgage Association said it guaranteed more than $25.4 billion in mortgage backed securities in May. Lenders issued over $17.53 billion of Ginnie Mae II single family pools and $5.54 billion Ginnie Mae I single-family pools. Reverse mortgage lenders issued $771 million of HMBS product during the month, down from $1.029 billion in April.

In a potential deal valued at upwards of $43 million, MetLife Bank is making a play for reverse mortgage assets owned by the former Lehman Brothers empire. Bankruptcy court documents in the Southern District of New York outline a deal proposed by Lehman Brothers Holdings Inc. to sell two loan portfolios owned by the former [...]