Reintroducing RMD’s Comments Community

For longtime readers of Reverse Mortgage Daily, many have participated in industry dialogue by commenting in response to articles on RMD. The success of RMD was built on community, and we appreciate that comments are an important way to support productive industry discourse. Comments were disabled for several months following a RMD website redesign earlier […]

RMF Updates Equity Elite Product to Include Term Payment Option

Reverse Mortgage Funding announced Monday that it is rolling out updates to its Equity Elite proprietary reverse mortgage, now to include both lump sum and term disbursement options for borrowers under a fixed rate. The product expansion, which allows borrowers to choose any number of term payments from 24 to 120 months, follows a series […]

Longbridge Launches Servicing Website for Reverse Mortgage Borrowers

To ease the reverse mortgage experience for the company’s borrowers and originators, Longbridge Financial is launching a consumer-facing servicing website for its customers. Through the new platform, which will be rolled out in stages and will first be available to new customers starting June 3, borrowers will be able to access their loan information via […]

Live Well Financial Halts Funding for New Loans

Live Well Financial has halted fundings for new reverse mortgage loans and some loans in process, RMD has learned from wholesale account executives within the company. Some sources indicate the company will cease operations entirely. Several reverse mortgage wholesale account executives with the Richmond, Va.-based mortgage company informed their accounts Thursday and Friday via phone […]

University Lending Acquires Michigan-Based 1st Nations Reverse and 52 Employees

University Lending Corp, based in Clinton Township, Michigan, announced this week is has acquired assets from Huron Valley Financial, including the company’s reverse mortgage division and its 52 employees. Through the acquisition of the Ann-Arbor-based reverse mortgage division, 1st Nations Reverse, the company becomes a top 30 reverse mortgage lender by volume, based on its […]

Survey Finds Reverse Mortgage Appeal Higher Among Those Under 50

Around 15% of Americans say they would consider a reverse mortgage once eligible, according to a new survey released Thursday, with responses varying widely depending on age. Among respondents — investors between the ages of 35 and 64 who were polled by Kiplinger and digital wealth management company Personal Capital — 31% of those under […]

RMF Takes Top Spot for Reverse Mortgage Securities Issuance in 2018

Reverse Mortgage Funding took the top position in annual HECM Mortgage Backed Securities issuer rankings in 2018 with 41% market share and responsible for $3.92 billion of HMBS securities, according to data compiled by New View Advisors. The reverse mortgage lender, founded in 2013, was followed by AAG, Finance of America Reverse, Ocwen Loan Servicing […]

HECM Endorsements Halted During Partial Government Shutdown

Home Equity Conversion Mortgage insurance endorsements are being halted as a result of the partial U.S. government shutdown that began on Saturday, according to a notice sent by the Federal Housing Administration (FHA) on Wednesday morning. Due to a lapse in appropriations, the shutdown entered its fifth day on Wednesday. Until further notice, the FHA […]

Class Valuation Acquires Landmark Network, Plans to Expand

National appraisal management company Class Valuation has acquired Landmark Network as of Friday, the companies have announced. Landmark, based in Van Nuys, California, has long been a leader in the reverse mortgage space through its real estate appraisal offerings, and Class identified the opportunity in Landmark based on its presence in the growing baby boomer […]

Lenders Prepare for 2019 Reverse Mortgage Challenges

Recent program changes and new appraisal rules have led reverse mortgage lenders to update their strategies and approaches in a consistently dynamic market. And on the the heels of major product changes implemented in late 2017, many longtime reverse mortgage players have adapted their businesses accordingly. Yet there are several challenges that remain in light […]