May 21st, 2009 | by John | published in Financial Freedom, JB Nutter, News, Reverse Mortgage, Reverseit
When JB Nutter announced it was suspending new submissions for its wholesale business, brokers scrambled to get files closed with other lenders and it lead to slower turn times across the industry. While things seem to be back to normal at Nutter, its “hiccup” at the beginning of the year was a great opportunity for […]
April 28th, 2009 | by John | published in Financial Freedom, JB Nutter, News, Reverse Mortgage, Top HECM Lenders
RM Insight published a new report showing that JB Nutter has over taken Financial Freedom as the largest wholesale reverse mortgage lender. The data shows that over the last year, Nutter saw its wholesale business grow 76.8% compared to Financial Freedom seeing it’s volume drop 41.3%.
Below is a list of the top 10 wholesalers […]
April 22nd, 2009 | by John | published in Financial Freedom, News, Reverse Mortgage, Technology
Lately the news coming out of Financial Freedom hasn’t been positive, but yesterday the company announced it was rolling out its new web based RMA software. They will be decommissioning the traditional desktop RMA on 5/31/09, said a company statement.
Some of what Financial Freedom calls “salient” features of its web-based RMA are:
April 10th, 2009 | by John | published in Financial Freedom, News, Reverse Mortgage, Servicers
Fitch Ratings recently announced it assigned Financial Freedom Acquisition LLC, a subsidiary of OneWest Bank, FSB, a residential primary specialty reverse servicer rating of “RPS3-“. According to the press release, the drop in rating reflects the limited operating history of OneWest Bank, FSB, a newly formed, non publicly rated entity.
Headquartered in Irvine, CA, […]
March 20th, 2009 | by John | published in Financial Freedom, News, Reverse Mortgage
When OneWest Bank announced that it had closed on the deal to purchase IndyMac, the company said it would continue to operate Financial Freedom but didn’t mention anything about laying off some of its employees.
Earlier this morning there was a conference call where I’m told Michelle Minier read a script to announce layoffs and […]
March 19th, 2009 | by John | published in Financial Freedom, News, Reverse Mortgage
Late Thursday the The Federal Deposit Insurance Corporation (FDIC) announced that it had completed the sale of IndyMac Federal Bank FSB to OneWest Bank, FSB, a newly formed Pasadena, California-based federal savings bank organized by IMB HoldCo LLC with total assets of approximately $16.0 billion.
The new owners injected $1.55 billion in common equity and […]
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