As the credit crunch spreads into the proprietary reverse mortgage business, it is beginning to cause issues for both originators and borrowers with dwindling options for these products. Welcome to the land of the Double Application.
Many loan originators have begun having to originate two reverse mortgages at the time of application never knowing if one […]

Interesting clip from the Today Show this morning that discusses how some banks are targeting the baby boomer market with tailored accounts.  NBC’s Jean Chatzky reported that banks like Wachovia and Suntrust have released checking accounts  to attract people 50 years and older.  According to Chatzky, the fees for these accounts are typically lower than […]

Until now, Bank of America has laid low on the reverse mortgage front ever since the acquisition of Seattle Mortgage was completed.  BofA recently announced that they are expanding its consumer reverse mortgage business to the Southeast, where it’s now offering its Senior Equity Reverse Mortgage™ Suite of products.
“Our new combination of proprietary products […]