In case you missed it, here’s what happened in reverse mortgage news this week:
Court Rules on Additional Non-Borrowing Spouse HUD Case—A U.S. District Court issued a memorandum opinion expressing whether certain initiatives set forth by the Department of Housing and Urban Development in its handling of two non-borrowing spouse cases could be considered as arbitrary.
There’s a Silver Lining in Reverse Mortgage Volume, Despite 9-Year Low—While reverse mortgage endorsements have been in the doldrums in recent months, a rise in counseling sessions indicates there is a gaining interest in the product.
Live Well Acquires $531 Million Reverse Mortgage Portfolio, Adds NYC Trading Desk—On the heels of acquiring a bulk portfolio of Ginnie Mae bonds, Live Well Financial also added to its team several personnel from Stifel Financial’s HECM Trading Desk.
1st Reverse Mortgage USA Launches New Sales Lead Platform—Digital, direct mail campaigns and a call center comprise the company’s new sales lead generation platform, which will be used to support its retail direct and other client business channels.
Texas Upholds Strong Reverse Mortgage Record, Zero Enforcement Actions—While The Lone Star State is the second-most populous reverse mortgage state by volume, it’s also home to zero enforcement actions regarding the loans.
Written by Jason Oliva