Underscoring the confusion that continues to surround tax and insurance issue with reverse mortgages is the recent case of a Michigan couple who found themselves in default due to unpaid property taxes and no property insurance in place.
Despite later obtaining insurance, the couple’s default had produced a demand from the lender, Financial Freedom, for [...]

Wholesale reverse mortgage volume faired better than the retail side of the business in August.  According to data from RM Insight, wholesale volume was down 2.7% compared to retail endorsement volume being down 17% in August.
The most interesting aspect of the data is seeing how much Genworth’s wholesale business picked up.  If you look [...]

Financial Freedom announced that it’s discontinuing the HECM fixed rate product in the state of Illinois, effective immediately said the company statement.
The statement read that:

Wrestling with the issue of defaults on tax and insurance payments for properties which have reverse mortgages on them, private and public sector practitioners know they’re handling a hot potato issue, described succinctly by Steve Irwin as “headline risk.” 
Irwin has been in the reverse mortgage business since 1995, serving now as a consultant but [...]

The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General, audited Financial Freedom Senior Funding Corporation (Financial Freedom) and found that they did not fully follow HUD’s reverse mortgage requirements for loans in the San Antonio, Texas area. 
According to the report, Financial Freedom generally followed HUD reverse mortgage requirements for [...]

When JB Nutter announced it was suspending new submissions for its wholesale business, brokers scrambled to get files closed with other lenders and it lead to slower turn times across the industry.  While things seem to be back to normal at Nutter, its “hiccup” at the beginning of the year was a great opportunity for [...]

RM Insight published a new report showing that JB Nutter has over taken Financial Freedom as the largest wholesale reverse mortgage lender.  The data shows that over the last year, Nutter saw its wholesale business grow 76.8% compared to Financial Freedom seeing it’s volume drop 41.3%.
Below is a list of the top 10 wholesalers [...]