Nationwide Equities Brings EquityPower to Wholesale Partners in New York

As the latest form of expansion for Nationwide Equities’ EquityPower proprietary reverse mortgage, the Mahwah, N.J.-based lender announced this week it is making the product available via its wholesale channel in New York state. The company launched EquityPower in February 2020 and has gradually expanded its reach in recent months, including making the product available […]

Nationwide Equities Brings EquityPower Jumbo Reverse Mortgage to New York

Nationwide Equities has announced the availability of its proprietary EquityPower reverse mortgage in the state of New York. The product was approved by the state’s Department of Financial Services this week, following Nationwide Equities’ application for approval many months ago. “Now we are the second lender in the state to offer a private reverse mortgage,” […]

Origins: RMI’s John Lunde on Reverse Mortgage Education and More

Reverse mortgage lenders large and small have come to rely on the data and analysis of Reverse Market Insight over the years, since the company launched in 2007. Under the leadership of co-founder John Lunde, the company offers industry data analysis including market-level data lenders can use to help drive their business forward. John Lunde […]

Fox Business: Reverse Mortgages — Who Benefits?

Finances are top of mind for many Americans as a result of the COVID-19 pandemic, writes Fox Business in a brief news item this week, and some may consider reverse mortgages. The article is very brief when it comes to details, but asks the question as to who benefits, and includes a comment National Reverse […]

1st Nations Reverse Hires Ken Krajewski as Head of Reverse Mortgage Lending

Southfield, Michigan-based 1st Nations Reverse Mortgage announced this week that the company has hired industry veteran Ken Krajewski as head of reverse mortgage lending. The company, which offers reverse mortgages through both wholesale and retail channels is a division of Midwest Loan Solutions. “The addition of passionate and highly qualified reverse mortgage specialists to their […]

FHA Extends Relaxed Appraisal Requirements, Foreclosure Moratorium Through June

The Federal Housing Administration today announced it is extending its relaxed appraisal requirements for most FHA-ensured loans originated during the coronavirus national emergency. The extension, announced in Mortgagee Letter 2020-14 runs through June 30. Previously, the allowance for desktop and curbside appraisals was in place through May 17, per ML 2020-05 published in late March. […]

CFPB, HUD and FHFA Launch COVID-19 Consumer Housing Website

The Consumer Financial Protection Bureau (CFPB), in conjunction with the Department of Housing and Urban Development (HUD) and Federal Housing Finance Agency (FHFA), today announced the launch of a new website to help homeowners and renters impacted by the COVID-19 crisis. The site offers resources to help mortgage holders and renters find relief in cases […]

Brian Montgomery Confirmed as HUD Deputy Secretary

After serving the role of Federal Housing Administration Commissioner since June 2018, Brian Montgomery was today confirmed by the Senate as Department of Housing and Urban Development Deputy Secretary. He was nominated to the position full time by President Donald Trump in October 2019. At the time, he held the role of acting deputy secretary […]

CNBC: Reverse Mortgages Provide “Lifeline” During Crisis

Reverse mortgage applications are up during a time when many senior homeowners are looking for “lifeline” to help lessen sequence of returns risk, writes CNBC in an article published Monday. Further, some advisors are taking a second look at this option for their clients. “With coronavirus shutdowns wreaking havoc on the global economy, investment portfolios […]