In case you missed it, here’s what happened in reverse mortgage news this week:
New reverse mortgage training tool launches—could it be the next big fix for regulators? The brainchild of reverse mortgage consultancy Wendover Consulting and training and technology provider Reverse Focus (formerly Reverse Fortunes), a new reverse mortgage training product, Reverse Basics, is now available to serve as an official reverse mortgage education tool for originators in the space, as well as those looking to enter it.
…and The Reverse Review is sporting a brand new look…. The reverse mortgage magazine mainstay launched an online design overhaul this week under the leadership of most recent owners Reza Jahaniri and Erik Richard. The site has been months in the making. New features include an extensive archive of past content for visitors and contributors to peruse, as well as a whole new organizational scheme. (Think: servicing, HMBS, appraising, for starters.) Check out the new site.
The U.S. sued Wells for thousands of fraudulent FHA loans. The civil suit against Wells Fargo alleges the bank conducted reckless underwriting and fraudulent loan certification for thousands of Federal Housing Administration-insured loans under FHA’s Direct Endorsement program, resulting in hundreds of millions of dollars in insurance claims paid by FHA. The loans in question do not include reverse mortgages.
Network Funding makes waves, plans to hire 100 LOs. Reverse mortgage up-and-comer Network Funding this week announced the hire of a new national sales manager as well as plans to hire more than 100 originators to its nationwide team.
Will we see you at NRMLA 2012? RMD will be heading to San Antonio Texas this weekend for the National Reverse Mortgage Lenders Association annual conference, starting Monday. We look forward to seeing you and will be reporting live from the ground in Texas.
Written by Elizabeth Ecker