Security One Lending announced the management team of Seniors Reverse Mortgage will be joining the company to manage the branch development side of the San Diego, CA based reverse mortgage lenders business.
“We believe the addition of David Stevenson, Christine Louie, and Bill Smith will strengthen the overall management team of S1L.  They have certainly built [...]

Bank of America Merrill Lynch closed a $92 million private placement security backed by “troubled” reverse mortgages insured by the Federal Housing Administration according to Total Securitization.  The deal is the first private label reverse mortgage securitization seen in the market since the downturn.
Issued by Mortgage Equity Conversion Asset Trust Corporation, a shelf issuer that houses [...]

After closing the acquisition of Urban Financial in the beginning of July, Knight Capital Group Chairman and CEO, Tom Joyce, said the integration of the companies is going well.  ”I can report we are making progress, great progress,” he said during a Q2 2010 earnings call with analysts.
Not much is expected to change in terms [...]

The last year hasn’t been easy on the reverse mortgage industry, but during the National Reverse Mortgage Lenders Association’s “road show” attendees expressed some optimism about things to come.
With at least $140 million provided through the appropriation process so far and the possibility of a two product solution from the Federal Housing Administration, stars seems [...]

After rolling out the first new jumbo reverse mortgage product in two years, Generation Mortgage announced it closed the first Plus product on Wednesday.
“The Generation Plus loan caters to an underserved segment of senior homeowners living in higher-valued homes,” said Scott Peters, President and CEO, Generation Mortgage Company. “We’re very pleased with the quick market [...]

After only 4,551 units endorsed in May, the lowest amount of units since 2005, wholesale and retail volume bounced back in June according to data from Reverse Market Insight.
For the second month straight, retail originations outpaced wholesale with 2,900 units, an increase of 17.6% from May.  Broker volume grew 15.2%, coming in at 2,404 units during the month.

With fiscal year 2011 budget proposals making their way through the House and Senate, the Federal Housing Administration’s reverse mortgage program could see a 150 percent increase in annual insurance premiums, as well as reductions in available proceeds the HECM (Home Equity Conversion Mortgage) program says Generation Mortgage Company.
“Now is a good time for seniors to take [...]