The Journal Record  published a story last week about Urban Financial Group and how it has grown into one of the top reveres mortgage lenders in the country.  At the height of the mortgage refinancing boom, Bryan Hendershot decided that trend could not sustain itself and took his year-old Tulsa mortgage brokerage into a new [...]

In November Fannie Mae announced it was  making the move to “Live Pricing” for reverse mortgages, which allows lenders to obtain reverse mortgage commitments ranging 2 to 90 days.  Prior to the change, FNMA only priced reverse mortgages in 60-day forward negotiated (or “static”) commitments based upon reverse mortgage delivery. FNMA’s move to live pricing [...]

A new independent online survey conducted by Crestwood Associates in partnership with Golden Gateway Financial found that nearly 80 percent of senior citizens polled, are worried about the impact of the financial crisis on their retirement savings.  These seniors are looking for new ways to generate additional income, with more than half of respondents considering [...]

Jim Cramer’s TheStreet.com recently published an article about the changes that stem from the Housing and Economic Recovery Act of 2008.  Even with the fees being capped, The Street reports that critics still think reverse mortgages are expensive. Peter Bell, president of the National Reverse Mortgage Lenders Association, an industry advocacy group, admits these loans [...]

Today, 1st Reverse Financial Services announced the launch of its new E-Retail Reverse Mortgage Center to help leverage its originators out in the field, call center, and internet based loan origination activities. Located outside of Cleveland, Ohio the center is managed by Pamela Burkett and staffed with several experienced reverse mortgage lending professionals.  The office [...]

JAM Equity Partners announced the successful initial closing of its second private equity fund, JAM Special Opportunities II.  The fund closed with $29 million in capital commitments from several lead investors and is targeting a total of $75 – $100 million with a second and final close in February 2009. According to The Reverse Mortgage [...]