Boston National Hires Pope as Reverse Mortgage Executive

Title services firm Boston National hired Anneta Pope as its senior vice president, reverse mortgage executive, as the company attempts to bolster its reverse offerings. Pope will lead business development initiatives for the Charlotte, N.C.-based Boston National, while also spearheading education and training programs. The firm, part of Incenter’s lender services group, currently offers title […]

Nationstar Buys $4.9 Billion Generation Reverse Mortgage Servicing Portfolio

Nationstar Mortgage Holdings (NYSE: NSM), an active servicer of reverse mortgages, has acquired a portfolio of reverse mortgage servicing rights from Generation Mortgage following Generation’s exit from originations and subsequent wind down. Nationstar paid $192 million to Generation Mortgage and received reverse mortgage net assets valued at $233 million, comprising $4.9 billion of unpaid principal […]

Report Digs Deeper Into CFPB Reverse Mortgage Complaints

Last month, the Consumer Financial Protection Bureau (CFPB) published thousands of consumer narratives describing their various complaints with financial products, including reverse mortgages. But in the grand scheme of things, gripes related to reverse mortgages represent only a minute share of total mortgage complaints, according to new independent research.  Since it began accepting mortgage complaints […]

Urban Financial Names Industry Veteran to Oversee Midwest Retail Division

Urban Financial of America, LLC, has hired industry veteran Ron Bartley as Midwest area manager for the No. 3-ranked reverse mortgage lender’s Retail Sales Division. “With nearly a decade in the reverse mortgage industry and 40 years’ mortgage experience, Ron is truly a seasoned mortgage veteran who brings expertise, client knowledge and exceptional recruiting talent to […]

A New Year for Reverse Mortgages

The only reverse mortgage market constant is change, and 2014 was no exception. This year saw the impact of product changes implemented in late 2013, as well as new changes: non-borrowing spouse protections, new principal limit factors, a top-10 lender exit, product innovation, and many, many others. Industry members saw Generation Mortgage wind down its […]

Generation Mortgage Recognized in Georgia Awards for Ethics, Leadership

The Better Business Bureau Serving Metro Atlanta, Athens & Northeast Georgia recognized Generation Mortgage Company with an award honoring ethical marketplace practices for the third year in a row. The company’s Chief Information Officer Walt Carter has also been named Corporate Georgia CIO of the year.  The awards were presented following Generation’s exit from reverse mortgage […]

Reverse Mortgage Daily Rewind: The Stories That Defined 2014

From principal limit factor changes and non-borrowing spouse guidance to lawsuits and the financial assessment, the reverse mortgage industry was no stranger to the news in 2014.  Reverse Mortgage Daily covered these topics — and more — which presented both challenges and opportunities for the industry as a whole.  Lenders, tech companies and analysts shared […]

[Update] Generation Mortgage To Exit Reverse Mortgage Originations

Generation Mortgage is winding down its reverse mortgage originations business including retail and wholesale operations, the company confirmed Wednesday. The wind-down of the business will include the elimination of jobs across Generation’s originations platform, spanning positions based in its Atlanta headquarters and nationwide. The last day for new applications will be Wednesday, October 8, though […]

Urban Releases More Detail on HomeSafe Jumbo Reverse Mortgage

After announcing in August it would enter the proprietary reverse mortgage market, Urban Financial of America this week released additional detail around its HomeSafe jumbo reverse mortgage, now available in four states.  The HomeSafe, which UFA is rolling out this week, offers borrowers with high valued homes the opportunity to borrow up to $2.25 million […]

AAG to Roll Out New Reverse Mortgage Product

American Advisors Group will offer a new reverse mortgage product in the next two months, Bloomberg Businessweek writes in a recent article. The new product is being launched in addition to Urban Financial of America LLC’s “HomeSafe” product, which will be made available to borrowers Sept. 2. American Advisors Group and Urban Financial of America are two […]