JB Nutter has started accepting new files from certain customers as the company clears up its warehouse line issues that caused the #2 largest reverse mortgage wholesaler to suspend all new submissions in February. According to the Reverse Mortgage Report, Vice President George Lopez said the company is "in the process of methodically adding back [...]

Kansas City Business Journal recently published a story about JB Nutter and the problems it has run into due to the credit crunch.  The article describes how the 2nd largest wholesale reverse mortgage lender in the country has been forced to stop accepting new files from its wholesale customers until March due to warehouse providers [...]

JB Nutter announced today that it would be extending its moratorium on new files until March 2009.  The Kansas City, MO based lender originally sent out an email announcing the moratorium to correspondents on January 9th, citing a funding bottleneck that was supposed to be cleared up by the end of last week.  According to [...]

Late last week, JB Nutter announced that it was halting all forward wholesale originations, due to its funding “bottleneck”.  ML Implode posted a copy of the email which was sent to brokers that said: “From this point forward, James B. Nutter & Company will not be accepting registrations or files for “forward” mortgages any longer. [...]

In August of 2008, Fannie Mae announced that November 2nd, 2008 would be the last day lenders could price reverse mortgages using 60 day forward commitments.  After Nov 2, lenders would be required to use “live pricing” which offers periods ranging from 2-90 day commitment periods.Instead making the move to live pricing on Nov 3, [...]