In case you missed it… here’s what happened in reverse mortgage news this week.
Knight Capital received buyout offers, expected to sell. The parent company of reverse mortgage lender Urban Financial group is expected to accept an offer soon with current bids on the table from Getco and Virtu—both companies focused in the market-making space.
Genworth rolled out new Robert Wagner ads—with a twist. Genworth Financial Home Equity Access (GFHEA) rolled out the new Wagner ads earlier this week and are replacing the “voice over” ads that were released earlier this year. The ads focus on the term “retirement loan,” rather than traditional terminology.
Generation’s head of wholesale left the company. Former Generation Mortgage Executive Vice President Sales Kim Kerrigan Smith has confirmed she has left Generation to pursue other opportunities.
TVC Capital acquired a majority stake in ReverseVision. TVC, a private equity firm based in San Diego, announced Tuesday it has acquired a majority stake in Research Triangle, the company that develops reverse mortgage software solution ReverseVision. The deal is all cash and includes an equity purchase in Reverse Documents, a document preparation company focused on the reverse mortgage industry.
American Bankers Association partnered with Security One Lending. American Bankers Association subsidiary Business Solutions announced Security One Lending will be its strategic alliance partner to offer reverse mortgage products and solutions to its membership.
Written by Elizabeth Ecker