A few weeks ago Bank of America completed the acquisition of Seattle Mortgage’s reverse mortgage division.  Before the purchase, BofA started originating reverse mortgages through a pilot program they started in Arizona.  The  program offered the standard HECM products as well as a proprietary product called the Senior Equity MaximizerTM. 
Recently Realty Times wrote that, “Not only does it have a high maximum loan […]

According to a press release issued on June 29th, Bank of America has completed the acquisition of Seattle Mortgage’s reverse mortgage division.  BofA made the announcement to acquire Seattle Mortgage back in April.  Colin McCormick, BofA’s Reverse Mortgage Product executive commented, “Seattle Mortgage has been the gold standard in the reverse mortgage industry. We are […]