Senior Lending Network announced the launch of its HECM for Home Purchase program, which allows senior homeowners to use proceeds from a reverse mortgage to purchase a new primary residence.
"In conjunction with more and more baby boomers turning 62, today’s unpredictable economy, and seniors wishing to manage and maintain a comfortable quality of […]

The Senior Lending Network announced the official launch of its Bank Direct Partner Program.  The new initiative enables community and regional banks to seamlessly integrate reverse mortgages into their platforms while leveraging the Senior Lending Network brand.
The partnership allows banks to tap into the company’s proven tools, experience, and industry methodologies from its in- […]

Fannie Mae announced some significant pricing changes yesterday, just a few days before lenders will make the switch to mandatory delivery for live pricing.  The change brings higher margins to the reverse mortgage industry with some lenders offering CMT based HECMs with margins as high as 3.75%.
According to people who attended last weeks NRMLA […]

Several different’ people were voicing their opinion on the Senior Lending Network’s decision to eliminate the CMT based reverse mortgage product last week and SLN was paying attention.  To provide a bit more insight into why the decision was made, SLN’s CEO David Peskin responded with the following statement:

The Senior Lending Network announced earlier this week that it was moving all of its products to LIBOR starting on Monday, March 16, 2009.  According to the notice sent to brokers, SLN believes the pricing on CMT products will further diminish, therefore making the need for this product insignificant in today’s marketplace. 
In the […]

Late this week the Senior Lending Network announced it was changing its direction of its wholesale channel to concentrate on a specific market niche and is no longer interested in high volume and low touch business in this economy.  As part of the new direction, the company was forced to lay off some of […]