New York Attorney General Files Suit Against Ditech, Investigates RMS

Following recent resistance from Bank of America on a deal to sell Reverse Mortgage Solutions, RMS parent company Ditech Holding Corp. is now being sued by New York’s Attorney General in an effort to stop the sale. Her office calls the proposed sale an “attempted end-run around statutory protections for homeowners,” which includes reverse mortgage […]

RMF Adds Griffin as Account Executive

Bloomfield, N.J.-based lender Reverse Mortgage Funding (RMF) announced the appointment of Tim Griffin as an account executive, who will be responsible for building and maintaining third-party originator (TPO) relationships with brokers, principal/authorized agents and correspondent lenders. “Tim has more than 16 years’ experience working in the reverse mortgage industry,” said RMF President David Peskin in […]

Bloomberg: Nearly 40% of U.S. Households are Free of Forward Mortgages

More Americans today find themselves living in homes that are free and clear of forward mortgage payments when compared with years past, according to U.S. Census data analyzed by Zillow (via Bloomberg). That data indicates that nearly 37 percent of American households own their homes without any remaining mortgage payment obligations. This number found itself […]

Origins: A Career Solving ‘Really, Really’ Crazy Scenarios

If you talk to any reverse mortgage originator, chances are that you’ll be told about the more educational and consultative approach that’s often required in the course of their work. Because of the way a relationship is developed between originators and borrowers in the reverse mortgage business, loan officers are often in a unique position […]

ReverseVision Names New Vice President of Operations

Reverse mortgage origination technology developer ReverseVision has announced the appointment of a new vice president of operations. Sunny Mahdii will work with ReverseVision’s professional services, training, implementation, document management and customer success teams to oversee and implement the company’s operations strategy. Prior to her position at ReverseVision, Mahdii served as director of operations and business […]

HUD Resolves HECM Setup Issues on Low Expected Rate Loans

The Department of Housing and Urban Development (HUD) announced last week that Home Equity Conversion Mortgage (HECM) loans with expected rates of less than 3 percent can now be set up in HUD’s systems after fixes were incorporated into the platform. This is according to update notes released on the Home Equity Reverse Mortgage Information […]

Back on Reverse Mortgage Landscape, Bank of America Objects to RMS Sale

Long after leaving the reverse mortgage business, Bank of America is back on the landscape — now with an objection to Reverse Mortgage Solutions’ sale proceedings. The company, which once originated as many as 9,000 reverse mortgage loans per year, has filed an official objection in the Bankruptcy Court for the Southern District of New […]

Liberty Home Equity Solutions Launches EquityIQ Proprietary Reverse Mortgage

The reverse mortgage proprietary market continues to heat up, with Liberty Home Equity Solutions announcing the official launch of a new proprietary offering on Thursday. Aimed at seniors with higher home values, the new product allows access to funds well above the current Home Equity Conversion Mortgage (HECM) program loan limit of $726,525. Called “EquityIQ,” […]

U.S. News: 6 Steps For Those Starting Retirement With No Savings

For new retirees who begin their non-working lives without the advantage of having savings, a new article from U.S. News and World Report offers up six potential steps people in that situation can take in order to enhance their financial standing in their retirement years. Among the included recommendations is the employment of the home […]