Longbridge Issues First Reverse Mortgage Securities

Just about two months after receiving the official approval from Ginnie Mae, Longbridge Financial, LLC issued its first Home Equity Conversion Mortgage-backed securities (HMBS). The Mahwah, N.J.-based firm made its initial pool offering on July 28, the company announced in a press release issued Wednesday. “The successful securitizations are the latest step in the growth […]

Holiday Weekend Roundup: Michigan Merger, Life After the Fonz

Happy July 4 weekend from all of us at Reverse Mortgage Daily! As a reminder, we’re off both Monday, July 3 and Tuesday, July 4, returning to a regular posting schedule bright and early on Wednesday, July 5. We hope you have a happy and safe time! But before you step out the door, let’s […]

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 […]

Lenders Adapt Approach to “New” Reverse Mortgage Borrower

Today’s reverse mortgage borrower is decidedly different from years past. Recent changes to the HECM program now require that prospective borrowers undergo a financial assessment, effectively retooling the program for the more financially savvy. Now, originators are working with a new type of borrower, one who is considering a HECM as part of their overall […]