New York Life has yet to make any official move into reverse mortgages, but more information has surfaced suggesting that the insurance powerhouse plans to work with AARP when it does. A new position posted on New York Life’s website shows the company is looking for a Senior Strategy Officer who will be responsible for [...]

Baby Boomers are more likely than younger generations to count on their family being able to use their home’s equity as income in the event that they passed away unexpectedly, according to a MetLife Mature Market Institute survey, “Multi-Generational Views on Family Financial Obligations.” All three generations, including Gen Xers and Gen Yers, believe they [...]

EverBank Financial Corp. announced last week is has agreed to acquire MetLife Bank’s Warehouse Finance business under undisclosed terms. A company spokesman confirmed this week that the warehouse business being sold will include MetLife’s reverse mortgage warehouse lines. “An arrangement has been made to sell MetLife Bank’s entire Warehouse Finance Unit. This includes several warehouse [...]

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 [...]