July 23rd, 2009 | by John | published in News, Reverse Mortgage, Warehouse Lines
Security One Lending and Texas Capital Bank have agreed to double the size of its existing warehousing facility said a company statement. The increase funding capacity comes at a time when Security One Lending has doubled it business since early March with the acquisition of OMNI reverse mortgage.
“Texas Capital Bank has been a [...]
June 1st, 2009 | by John | published in News, Reverse Mortgage, Warehouse Lines
Security One Lending announced it has entered into a strategic warehousing relationship with LaJolla, California based Silvergate Bank. Security One Lending represents Silvergate’s first warehousing client, and the firms funded their first transaction on Friday, April 24th.
“Warehouse lending has been, and continues to be, the major issue for non-depository mortgage banking firms” said Torrey [...]
May 28th, 2009 | by John | published in News, Reverse Mortgage, Warehouse Lines
Despite rumors that Wells Fargo and GMAC’s ResCap are getting back into warehouse lending, independent reverse mortgage bankers’ resources are being pushed to the limit and loans are taking longer to close than usual due to a lack of funding from a shrinking number of warehouse lenders, RMD’s sources say.
Recent estimates from The Warehouse Lending [...]
April 22nd, 2007 | by John | published in Warehouse Lines
Over the past year I have spoken to a few different companies that provide warehouse lines for reverse mortgage production, but I haven’t seen any lenders really advertise it. Not that I really blame them because it adds a huge layer of risk to fund a product like reverse mortgages that are so new and [...]
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