Ocwen Adds to Leadership, New Role Oversees Reverse Mortgage Lending

Ocwen Financial Corporation (NYSE: OCN) announced today the appointment of two additional members to its senior leadership team, with one of them overseeing the company’s forward and reverse mortgage lending activity. Timothy J. Yanoti, formerly the president and co-chairman of residential mortgage originations firm American Financial Resources, joins Ocwen as Executive Vice President and Chief […]

How Originators Are Retraining Referral Partners As Reverse Mortgages Evolve

Still feeling the impact of rule changes to the reverse mortgage industry applied by the Department of Housing and Urban Development that went into effect on October 2, 2017, as well as an influx of new proprietary reverse mortgages, originators find themselves having to take a different approach concerning their business relationships with their referral […]

NRMLA Board Elects Jahangiri, Norman as Co-Chairs

The Board of Directors for the National Reverse Mortgage Lenders Association (NRMLA) has elected its co-chairs to serve from now until the next Annual Meeting, scheduled to take place from November 18th-20th, 2019. Reza Jahangiri of American Advisors Group (AAG) and Scott Norman of Finance of America Reverse (FAR) were unanimously elected. Jahangiri is the […]

Allegiant Reverse Spearheads Support for Fire-Affected Seniors in CA

A prominent reverse mortgage vendor based just outside of Sacramento is mobilizing support for seniors affected by the fires currently afflicting Northern California, and is calling on the wider community of the reverse mortgage industry to lend their support to mitigate its effects on the vulnerable senior population in the Butte County region. Allegiant Reverse […]

Three Predictions for the CFPB in 2019

The Consumer Financial Protection Bureau (CFPB) has seen changes in its activities ever since former director Richard Cordray stepped down in November of 2017. His successor, current acting director Mick Mulvaney, has made a series of changes during his tenure on matters as big as the enforcement actions the bureau makes, and as small as […]

Ditech Revenue Up in Q3, But Financial Uncertainty Remains

Ditech Holding Corporation (NYSE: DHCP), parent company of Reverse Mortgage Solutions, continues to undergo a strategic review with uncertain outcomes, despite posting an increase in revenue in the third quarter, including across its reverse mortgage business, according to quarterly earnings, filed last week. The company’s reverse mortgage segment logged $30.4 million in revenue, an increase […]

Harvard: High Homeownership, Low Income Are Future For America’s Seniors

A new report from Harvard University’s Joint Center for Housing Studies reveals emerging trends for America’s senior population, as well as notable implications for the future of the reverse mortgage market. The market for home equity solutions appears to be growing, based on the findings from the 2018 edition of Housing America’s Older Adults. Among […]

Finance of America Reverse Announces Rebranding, Silvernest Partnership

Following a major investment in consumer research aimed at discovering ways in which Americans are approaching their preparations for retirement, Finance of America Reverse (FAR) today announced a major rebranding initiative, aimed at more broadly introducing home equity access into the prospective plans of retirees. “There are a few reasons why the timing is right […]

Figure Technologies Announces New Sale Leaseback Offering

Home equity release firm Figure Technologies, Inc. has announced the rollout of a new sale leaseback product to offer prospective homeowners an option to access their home equity as an alternative to a reverse mortgage. This new offering, Figure Home Advantage, works as follows: Figure purchases the home, and grants seller(s) a lease that renews […]

Prosper to Launch ‘Digital HELOC’ in 2019

On the heels of a host of new equity-tapping products coming into the market, San Francisco-based peer-to-peer lending firm Prosper has announced the launch of a digital Home Equity Line of Credit (HELOC) offering to be launched in 2019. Aiming to simplify a notoriously difficult and prolonged application process that often leads to consumer frustration, […]