Since industry discussions in October set the bar for lenders to implement a financial assessment for reverse mortgage borrowers, MetLife has been the only major lender to formally introduce and launch such a policy. Now, effective today, the company has announced it has suspended those financial assessment guidelines, citing consumer confusion and the lack of [...]

Whether it was the sad slow demise of Financial Freedom or the shocking exits of Bank of American and Wells Fargo, the last year has been a rough one on the reverse mortgage industry. While 2011 was about the loss of industry-defining reverse mortgage brands, the next 12 months will be about building the next [...]

MetLife (NYSE: MET) has announced that it has decided to wind down all of MetLife Home Loans’ forward origination business and had stopped accepting applications as of 5 pm today. After announcing in October it was seeking a buyer, the insurer said it did not find such a buyer, and will close its forward origination [...]

MetLife (NYSE:MET) and Genworth (NYSE:GNW) may not be the only insurance powerhouses in the reverse mortgage business in 2012. While there have been rumors floating around for the last few months that New York Life, one of the largest mutual life insurance companies in the United States, was looking to enter the space, a new job opening [...]

The last two years have been a crazy time for Urban Financial Group. After Knight Capital Group’s acquisition of Urban in 2010, the company has been on a tear, growing from about 50 employees to more than 100 in a short period of time. Now, about a year and a half after the deal closed, [...]

MetLife (NYSE: MET) announced today that GE Capital Financial Inc. (NYSE: GE) will acquire most of its depository bank business in a deal expected to close in the second quarter of 2012 under undisclosed terms. The bank announced in July it was looking for a buyer. The company’s reverse mortgage business will remain unchanged, a MetLife [...]