1st Reverse Mortgage USA Promotes Scheiern to Director

1st Reverse Mortgage USA this week promoted Steve Scheiern to director of reverse mortgage business development.  Scheiern, who previously served as the Lakewood, Colo.-based lender’s national retail sales manager, will continue to oversee the retail division while also helping to develop parent company Cherry Creek Mortgage Company’s presence in the reverse space.  “In my new […]

IFG Hires Former Urban AVP, Targets Aggressive Reverse Mortgage Growth

IFG Mortgage Corp. announced today that it has hired former Urban Financial Assistant Vice President of sales Jason Eichmiller to bolster the company’s strategic retail expansion. The Newtown, Pennsylvania-based lender has a small team dedicated to growth in the reverse mortgage space and says the hire will help boost its presence in the market. “We […]

Urban Hires Former Generation Exec to Run Wholesale and Retail

Top-5 reverse mortgage lender Urban Financial today announced it has hired Sherry Apanay, former Generation executive vice president to run its retail and wholesale sales channels. Additionally, the company announced it has hired former EquiPoint Financial acting president, Kristen Sieffert, to oversee project management of its call centers. “At Urban, we’re intent on growing loan […]

Friday Round-Up: Urban-Guardian Deal Done, Canada Reverse Mortgages For Ages 55+

In case you missed it…here’s what happened in reverse mortgage news this week. Urban Financial finalized its acquisition of Guardian First Funding, along with its Robert Wagner campaign. Backed by Knight Capital Group (NYSE: KCG), the acquisition brings Guardian’s call center-driven retail model and rights to its Robert Wagner marketing campaign to the Urban Financial […]

Urban Closes Guardian Acquisition, Prepare for Robert Wagner Reboot

Urban Financial Group has finalized a deal this week to acquire Guardian First Funding Group for an undisclosed sum. Backed by Knight Capital Group (NYSE: KCG ), the acquisition brings Guardian’s call center-driven retail model and rights to its Robert Wagner marketing campaign to the Urban Financial brand and operations. Urban announced the deal in October, […]

Urban Gets HMBS Approval, First After New GNMA Requirements

Urban Financial Group is the first lender to receive its Ginnie Mae HMBS issuer approval after the agency lifted the moratorium at the end of last year. The addition of Urban brings the total number of approved HMBS issuers to 10 according to a Ginnie Mae spokesperson. Earlier this year, GNMA increased net worth requirements […]

Reverse Mortgage Margins Fall, Price of Leads to Follow?

As the secondary market for reverse mortgages continues to fluctuate, the importance of how much it costs to generate a lead has never been greater.  In theory, with margins coming down, the cost of buying leads should follow. “They’re so expensive with where the margins are right now,” says Josh Shein, President of Great Oak Lending […]

FHA’s HECM Saver Roll Out a Success? For Some

Only a few months after the release of the HECM Saver in October 2010, the new product is gaining traction with some lenders, while others are just starting to turn their attention to the low cost reverse mortgage product. Different than the Federal Housing Administration’s HECM Standard, the Saver provides consumers access to a reverse […]

Urban Moves Into New Headquarters, Plans to Expand Nationwide

Urban Financial Group is moving into a brand new 20,000 square foot corporate office on Monday in South Tulsa to accommodate its growing reverse mortgage operation.  The company currently employes 81 people in Tulsa and 120 throughout the country, will use the new office to expand into all 50 states. “With the support of our parent […]

Reverse Mortgage Lenders Figuring Out Their Next Move

As the landscape for reverse mortgage brokers continue to change with new third party rules from the Department of Housing and Urban Development, companies are looking to see how they can be successful in the future. “Little by little, everyone is trying to find their way and figure out what the next move is and […]