While many of the remaining top-10 reverse lenders have noted the opportunity presented by the exit of MetLife from the reverse mortgage business, the industry has also noted the loss of a big brand from the business. Generation Mortgage’s Jeff Lewis looked on the bright side of the MetLife exit in a recent statement, but [...]

From the Wall Street Journal to Fox Business and Bloomberg news, major media outlets last week covered MetLife’s exit from the reverse mortgage business, announced Thursday. By and large, financial press deemed the decision just another stop in a bigger exit strategy on the part of MetLife, which has been shedding business lines since last [...]

With the sudden exit of MetLife from the reverse mortgage business, announced last week, the remaining players in the market are already gearing up to make the most of the opportunity that remains. The overall sentiment is positive from a competition standpoint, but the void MetLife leaves in other ways will not be easy to [...]

In case you missed it, here’s what happened in reverse mortgage news this week. MetLife exited the reverse mortgage business. In an announcement Thursday, MetLife stated its decision to leave the reverse mortgage origination business and sell its servicing portfolio to Nationstar mortgage. Read our coverage of the exit. CFPB continued its mortgage industry audits, [...]

The reverse mortgage borrower of today is getting younger, and the age may be declining even further as a result of the financial stresses of the past four years, according to a study released this week by MetLife’s Mature Market Institute. This new group of borrowers is also using the reverse mortgage in a new [...]

In the wake of efforts by MetLife to implement a financial assessment for its reverse mortgage borrowers and Urban Financial Group releasing a financial assessment draft seeking feedback, the Department of Housing and Urban Development has not changed course in the development of its own rule. “Because of the specialized nature of this program, FHA [...]