Reverse Mortgage Volume Slides in September

Reverse mortgage endorsements dropped 6.7% between August and September, as the industry continues to await the surge associated with the rollout of new principal limit factors. Home Equity Conversion Mortgage originators — including those approved by the Federal Housing Administration and their non-approved countarparts — turned in 4,591 loans in September, according to the most […]

One State’s Reverse Mortgage Ad Law Has National Impact

When Oregon passed a sweeping new law to regulate reverse mortgage advertising in May, originators and lenders outside of the state could be forgiven for brushing off the news as irrelevant. But legislation in one state can have ripple effects throughout the Home Equity Conversion Mortgage landscape, and aside from also affecting multi-state lenders, Oregon’s legislation […]

Michigan Lender Acquires Home Point’s 40-Person Reverse Mortgage Division

Huron Valley Financial today announced the acquisition of Home Point Financial’s reverse mortgage operation, a move that will bring an existing team of nearly 40 Home Equity Conversion Mortgage employees to Huron Valley’s 1st Nations Reverse Mortgage subsidiary. The firms declined to discuss the details of the transaction, though Huron Valley CEO and president Eric Bradley […]