Lansing, MI based Celink is celebrating its 40th year of business and despite being located in the heart of an economically troubled state like Michigan, John LaRose, CEO of Celink reflects on the past and looks with optimism to the future.
“There is an invaluable lesson organizations learn in order to weather the storms created […]

A local NBC television station aired Reverse Mortgage: Man calls 12 about dwindling credit line which describes how Donald Conn took out a reverse mortgage with Wells Fargo and after noticing small amounts ($3, $5, and $7 every month) disappearing from his credit line he called to ask Wells what was happening and they […]

Fitch Ratings recently announced it assigned Financial Freedom Acquisition LLC, a subsidiary of OneWest Bank, FSB, a residential primary specialty reverse servicer rating of “RPS3-“.  According to the press release, the drop in rating reflects the limited operating history of OneWest Bank, FSB, a newly formed, non publicly rated entity. 
Headquartered in Irvine, CA, […]

Origination News writer Brad Finkelstein describes how even with the higher loan limits for the rest of 2009, it hasn’t exactly translated into more HECMs being originated.
In March, things seemed to have turned around for the industry as it endorsed 11,261 HECMs, up from 24% from February and easily breaking the previous record […]

MortgageOrb recently sat down with Marc Helm, COO of Reverse Mortgages Solutions to discuss the state of the reverse mortgage business.  During the interview, Helm discusses the secondary marketing potential for reverse mortgages and the new interest from insurance companies.  Below is a quick snapshot of a portion of the interview.

Fitch Ratings has affirmed Financial Freedom Senior Funding Corporation’s (Financial Freedom) U.S. residential servicer ratings as follows:

Residential primary specialty-reverse servicer rating affirmed at ‘RPS3.’
Fitch also removes the ratings from Rating Watch Evolving.