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 [...]

Security One Lending announced today the launch of a company stock plan for the company’s loan officers. The plan, which will allow originators to earn tracking stock based on their productivity over the next five years, will begin on May 1 under the name “President’s Club.” “S1L has been working on this structure for quite [...]

Genworth Financial Home Equity Access (GFHEA) announced Friday that the company will accept applications from new reverse mortgage partners without requiring an application package to be generated through its GFHEA system. It also has implemented a “fast-track” broker approval process to allow for new business partners as quickly as possible. The announcement comes on the [...]

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, [...]

Knight Capital Group (NYSE Euronext: KCG), owner of top-10 reverse mortgage lender Urban Financial, reported first-quarter earnings Wednesday of $33.1 million, or 36 cents per share, beating analysts’ estimates and citing institutional sales and trading including Urban’s performance as a growth driver. The company reported $349.1 million in revenues from continuing operations, up slightly from [...]

The concept of a hybrid product is a welcome addition from the viewpoint of many reverse mortgage originators. It would offer the borrower a greater range of options besides just fixed rate and adjustable rate products—a discrepancy between which has grown over the course of the last two years. The exact terms of such a [...]