Reverse mortgage wholesaler and correspondent lender Live Well Financial announced last week that it has received approval to issue Ginnie Mae HECM-backed mortgage securities—more than three years after submitting its application. “We were encouraged to see they approved us,” says Michael Hild, chairman and CEO of Live Well, who attributes the timing to a changing [...]

Only a few months after the release of the HECM Saver in October 2010, the new product is gaining traction with some lenders, while others are just starting to turn their attention to the low cost reverse mortgage product. Different than the Federal Housing Administration’s HECM Standard, the Saver provides consumers access to a reverse [...]

For the first time in the 20 year history of the HECM program, lenders have started to eliminate servicing fees and lower if not get rid of any origination fee for the HECM fixed product. Most see this as a way for seniors to get access to more proceeds, but some feel the industry is [...]