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 […]

Countrywide has had to make a lot of changes to their wholesale operations in the last six months and it looks like the heat from the subprime mess has affected their reverse mortgage operations as well.  Late on Thursday Countrywide announced that they would be modifying the way in which business partners obtain reverse […]

Countrywide recently updated their Simple Equity product to give borrowers two margin options for their jumbo reverse mortgage.  Back in April I posted on the details of the Simple Equity program which then only featured a margin of 3.50%.  Now, the program also gives the borrowers the choice of the same product but with a margin of 2.10%.  […]