While there has been talk of lenders no longer offering the HECM 100, 1st Reverse Financial continues to release new products to their brokers.  A few weeks ago, 1st Reverse released their new HECM Pathway which is an FHA insured loan created to serve those needing more funding assistance than is provided by any […]

The past week or so has been an interesting time in the reverse mortgage world.  Early last week, out of nowhere I received an email from Sun West that said they would no longer accept any HECM 100 submissions unless it was already in the current pipeline.  Surprised?… Yes. Shocked… no.  With the liquidity crunch […]

1st Reverse Financial Services, LLC, a subsidiary of Family Federal Savings of Illinois, has released a new FHA-insured HECM program called the HECM Pathway. The HECM Pathway™ is designed to assist borrowers who need to bring funds to closing or those receiving less than $5,000.00 in proceeds from settlement. “In today’s marketplace there appears to […]

Inman News had an interesting article that mentioned some of the financial obstacles that are preventing seniors (subscription required) from acquiring reverse mortgages.  According to Ralph Rosynek, President of 1st Reverse Financial Services, it’s delinquent student loans.  Rosynek said, “the elderly often co-sign for student loans on behalf of their grandchildren”.  Not only student loans Ralph… car […]

The National Association of Mortgage Brokers (NAMB) recently selected the senior management team of 1st Reverse Financial Services, LLC, a subsidiary of Family Federal Savings of Illinois, to create and deliver an updated Reverse Mortgage Continuing Education Course for their members. 
“Education is the foundation that we have built our company upon and we are […]