No “Fire Sale” For Financial Freedom

According to an article released from Bloomberg today, IndyMac Bancorp Inc., the second- biggest independent U.S. mortgage company and parent company of Financial Freedom, posted a record fourth-quarter loss and suspended its dividend “indefinitely” as the housing slump entered its third year. Suspending the annual dividend of $1 a share and reducing IndyMac’s balance sheet […]

Great Reverse Mortgage Article From The Wall Street Journal

A great article written by Jeff Opdyke from the Wall Street Journal was published this weekend. The article discusses his current situation in regards to how he and his family is going to take care of his grandmother who was recently diagnosed with bladder cancer. Opdyke is going through many of the tough decisions that […]

Private Equity & Reverse Mortgages

Are you looking to expand your reverse mortgage business?  If you are, private equity might be a resource that you should look into.  According to PEHub in September, Emeryville, CA based Golden Gateway Financial closed $6M in Series A funding.  The first series of funding was led by Menlo Ventures, which invests in different types […]

Reverse Mortgage News Headlines

Just a few reverse mortgage headlines from the week: What’s next for boomers? (Money Magazine) Reverse Mortgages allow Seniors Quality of Life (Mortgageporter.com) Taking Out a Reverse Mortgage (Entrepreneur.com) Fees and limits keep many seniors from taking reverse mortgages (Tribune) Have a great weekend! Technorati tags: Reverse Mortgage, Reverse Mortgage News, HECM, FHA, HUD

1st Reverse Enhances Jumbo Reverse Mortgage Products

1st Reverse Financial Services, LLC (1st Reverse), a subsidiary of Family Federal Savings of Illinois, recently announced enhancements to their Fixed4Life-XLTM and FLEX-XLTM proprietary products. The jumbo products are exclusively available through 1st Reverse’s Wholesale Correspondent Lending Program. I originally covered the products in August of last year, but the latest enhancements make the products […]

Thanks To Our Sponsors

Just a quick post to say “thank you” to our sponsors who make Reverse Mortgage Daily possible.  If you enjoy RMD, please consider supporting these companies! 1st Reverse Financial Services – 1st Reverse Financial Services offers a complete Wholesale Correspondent Lending Program, featuring a wide assortment of Reverse Mortgage Products including the Fixed4Life™ Fixed Rate […]

Social Security Debit Card

I thought RMD readers might find this story interesting… In early January the Direct Express debit card was announced by the Treasury Department and will be used as a prepaid debit card for Social Security recipients to provide safer and cheaper benefit payments. The card will be introduced in a handful of states this spring […]

Former US Housing Secretary Joins Generation Mortgage

We already have the beloved Robert Wagner, James Garner, and even Pat Boone talking about reverse mortgages, why not add one more?  Last week Atlanta based Generation Mortgage announced that Jack Kemp would be joining their team as a company spokesperson.  As a former US Housing Secretary, nine-term Congressman, Vice Presidential candidate and professional football […]

Reverse Mortgage News Headlines

A few reverse mortgage news headlines from the week: Ron Barnard’s real estate businesses are growing as others are closing (PE.com) When Inheritance in Negative (WSJ.com) Sun West’s Launch of its Reverse Mortgage Hands-on Workshop Series is a Success (Eworldwire) Are Reverse Mortgage Premiums Too High? (RealtyTimes.com) Have a great weekend! Technorati tags: Reverse Mortgage, […]

Quicken Loans Enters Reverse Mortgage Business

Yesterday Rock Holdings Inc., the parent company of Quicken Loans Inc. announced that they have acquired California based One Mortgage Network.  Headquartered in San Diego, One Mortgage Network is a fast growing provider of reverse mortgage products that employs over 100 people.  One Reverse Mortgage was founded in 2001 and is now focused on both […]