Genworth Financial (NYSE: GNW) reported strong fourth quarter earnings of $107 million, up from a $161 loss in the fourth quarter of 2010 and beating analysts’ estimates. Earnings per share were 22 cents compared with a loss of 33 cents in the fourth quarter of 2010. In its quarterly report, Genworth noted the move away from [...]

In case you missed it… here’s what happened in reverse mortgage news this week. Puerto Rican reverse mortgage giant Money House said it’s gearing up to take on the U.S. One of the top lenders in Puerto Rico, Money house, with seven branches and 80 employees says it is moving stateside and is looking to [...]

One of Puerto Rico’s largest reverse mortgage lenders is expanding into the United States and plans to carve out a “niche” targeting the Hispanic population. With seven branches and 80 employees, Money House is the second largest reverse mortgage lender in Puerto Rico with 26.5% of the market according to Reverse Market Insight. The company wants to [...]

Two years ago, the Consumer Financial Protection Bureau (CFPB) did not formally exist. One year ago, it was without authority or enforcement capabilities. Today, the fully-empowered agency, which officially launched on July 21, 2011 and got a director some six months later, now has a staff of 757, according to the CFPB. The size of [...]

Reverse mortgage borrowers in Oregon who were recently cut from the state’s senior tax deferral program made a case in court this week for keeping both the ability to partake of tax deferral benefits while simultaneously having a reverse mortgage. Of the more than 5,000 homeowners who were terminated from the tax deferral program in [...]

Two reverse mortgage lenders saw their best months ever for production in January, with other top reverse mortgage lenders taking the opportunity to ramp up volume during the month. Security One Lending and Genworth Financial Home Equity Access both saw more than 25% growth over the course of January, marking their best months in history, [...]