KBC sold its US reverse mortgage portfolio and said it will free up roughly $800 million dollars of cash in a company statement.

Guardian First Funding Group announced the addition of two former key executives from the Senior Lending Network and the addition of  legendary actor Robert Wagner as the company’s spokesperson. Mr. Wagner will appear in all of Guardian First Funding Group’s print, television and web site advertising said a company statement.  In his role as spokesperson, [...]

World Alliance Financial Corp., a reverse-mortgage lender that operates the Senior Lending Network announced today that it will no longer accept new loan applications, and will begin scaling back its operations effective immediately.             "World Alliance Financial is proud of its history of providing, through its reverse mortgage products, financial resources to seniors to help them [...]

Senior Lending Network announced the launch of its HECM for Home Purchase program, which allows senior homeowners to use proceeds from a reverse mortgage to purchase a new primary residence. "In conjunction with more and more baby boomers turning 62, today’s unpredictable economy, and seniors wishing to manage and maintain a comfortable quality of life, [...]

The Senior Lending Network announced the official launch of its Bank Direct Partner Program.  The new initiative enables community and regional banks to seamlessly integrate reverse mortgages into their platforms while leveraging the Senior Lending Network brand. The partnership allows banks to tap into the company’s proven tools, experience, and industry methodologies from its in- [...]

Fannie Mae announced some significant pricing changes yesterday, just a few days before lenders will make the switch to mandatory delivery for live pricing.  The change brings higher margins to the reverse mortgage industry with some lenders offering CMT based HECMs with margins as high as 3.75%. According to people who attended last weeks NRMLA [...]