Genworth Financial announced it’s applying to become a savings and loan after it reached a deal to acquire Interbank, fsb.  Genworth, a provider of life and mortgage insurance products, will acquire the Maple Grove, Minnesota based bank for an undisclosed sum. The community bank has about $1 billion in assets according to its website. 
Assuming [...]

Liberty Reverse Mortgage has announced that on Nov. 17 it will become Genworth Financial Home Equity Access.  Genworth acquired the company in November 2007 for $50 million and was the first major insurance provider to acquire a reverse mortgage lender.
According to Reverse Market Insight’s October MIC Reports, the Rancho Cordova, California based company has seen [...]

Reverse mortgage lenders are hot right now. Even with all of the negative press our industry has received over the past few months, companies are still acquiring reverse mortgage lenders. I cant say I’m surprised either… as we all know succeeding in the reverse mortgage business requires a different approach than the [...]

Just a quick post to say “thank you” to our sponsors who make Reverse Mortgage Daily possible.

1st Reverse Financial Services – 1st Reverse Financial Services offers a complete Wholesale Correspondent Lending Program, featuring a wide assortment of Reverse Mortgage Products including the Fixed4Life™ Fixed Rate HECM, the Fixed4Life™ XL JUMBO Fixed and the HECM Pathway™.
Lender [...]

At the NRMLA conference in San Diego Liberty Reverse Mortgage announced the release of their first proprietary reverse mortgage product.  The Liberty Preferred™ is designed to give reverse mortgage originators the ability to provide their clients a jumbo alternative that can be used for home purchase and higher home values.
“As our wholesale business continues to [...]

Liberty Reverse Mortgage and Sacramento State University worked together to compile the second annual Grandparent’s Cost Index® to examine the amount of money Grandparents spend on their grandchildren.  Among the 56 Million Grandparents in the United States, on average $27.5 billion is spent nationwide on grandchildren per year. The economic impact could increase significantly [...]

Until a few years ago, Scott Hanson and Pat McClain admit they knew little about reverse mortgages.  Mr. Hanson even admits to a previously held bias against them.  But after reading an article in 2003 that changed his mind, the two men began creating one of the largest reverse mortgage lenders in the country, [...]