Top-20 reverse mortgage lender 1st Reverse Mortgage USA is introducing a new pricing engine product through a partnership with Baseline Reverse. The engine, called ‘Surelock,’ utilizes real time data from capital markets and implements it into the 1st Reverse Mortgage loan origination platform. By allowing loan officers to enter key pieces of information about a […]
Refinancing an existing reverse mortgage into a new and potentially better one could be an option that works for some senior homeowners, but it’s not a universally good solution for everyone. This is according to a new article at U.S. News & World Report by personal finance and business contributor Rebecca Lake. Not only would […]
Aging in place remains a major priority for many seniors who take out a reverse mortgage, using the proceeds from their loan to help make the goal of staying in their house more possible. With newly-proposed changes to the Medicare Advantage program having the potential to allow more seniors to age in place by funding […]
Ocwen Financial Corporation (NYSE: OCN), parent company of Liberty Home Equity Solutions, recorded strong numbers in its reverse mortgage business in spite of the company’s generally reduced financial performance in Q1 2019, according to financial documents released this week. “[Our] reverse lending business recorded pre-tax income of $24 million, which included $17 million of favorable […]
The production of new Home Equity Conversion Mortgage-backed securities (HMBS) remained steady in April at just over $567 million, remaining generally consistent with lower issuance levels observed over the course of the past few months. A few highly-seasoned pools bumped up the final figure, though only by single digits. This is according to publicly available […]
The United States House of Representatives is contemplating the passage of a bill designed to roll back limitations placed on the Consumer Financial Protection Bureau (CFPB) during the tenure of acting director Mick Mulvaney, according to a report in The Hill.Mulvaney, who was replaced upon the confirmation of the Bureau’s current director Kathleen L. Kraninger […]
Live Well Financial has confirmed on its website that it has ceased origination operations as of May 3, following information detailed to RMD last week describing that the firm would halt funding for new loans. The company has also filed paperwork with employment officials in the state of Virginia, detailing that more than 100 workers […]
Home Equity Conversion Mortgage (HECM) endorsements rose by a figure of 12.7 percent to 2,901 loans for the month of April 2019. This figure is the first in several months not to be accompanied by the disruptive statistical noise generated by the 2018-19 partial federal government shutdown, according to the April HECM Lenders report compiled […]
The Consumer Financial Protection Bureau (CFPB) issued a Notice of Proposed Rulemaking (NPRM) on Thursday, which proposes a raise to the coverage thresholds for collecting and reporting data about closed-end mortgage loans and open-end lines of credit under the rules of the Home Mortgage Disclosure Act (HMDA). “The NPRM would provide relief to smaller lenders […]
When asked to serve as a sponsor at a recent retirement strategies event hosted by TheStreet, Finance of America Reverse (FAR) saw a unique opportunity to discuss ways in which home equity could be implemented into retirement strategies. What FAR Vice President of Retirement Strategies Steve Resch did not expect, however, was the positivity he […]
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