KBC Unloads SLN Reverse Mortgage Portfolio

KBC sold its US reverse mortgage portfolio and said it will free up roughly $800 million dollars of cash in a company statement. The portfolio was previously held by a subsidiary of KBC Financial Products, which owns the Senior Lending Network. While KBC didn’t disclose the buyer, sources close to the deal tell RMD that […]

Guardian Adds Former Senior Lending Network Execs and Robert Wagner as Spokesperson

Guardian First Funding Group announced the addition of two former key executives from the Senior Lending Network and the addition of  legendary actor Robert Wagner as the company’s spokesperson. Mr. Wagner will appear in all of Guardian First Funding Group’s print, television and web site advertising said a company statement.  In his role as spokesperson, […]

Senior Lending Network Halts Applications, Looks For Buyer or Additional Capital

World Alliance Financial Corp., a reverse-mortgage lender that operates the Senior Lending Network announced today that it will no longer accept new loan applications, and will begin scaling back its operations effective immediately.             "World Alliance Financial is proud of its history of providing, through its reverse mortgage products, financial resources to seniors to help them […]

Senior Lending Network Releases HECM For Purchase, Wholesale Up Next

Senior Lending Network announced the launch of its HECM for Home Purchase program, which allows senior homeowners to use proceeds from a reverse mortgage to purchase a new primary residence. "In conjunction with more and more baby boomers turning 62, today’s unpredictable economy, and seniors wishing to manage and maintain a comfortable quality of life, […]

Senior Lending Network Launches Bank Direct Program

The Senior Lending Network announced the official launch of its Bank Direct Partner Program.  The new initiative enables community and regional banks to seamlessly integrate reverse mortgages into their platforms while leveraging the Senior Lending Network brand. The partnership allows banks to tap into the company’s proven tools, experience, and industry methodologies from its in- […]

Fannie Mae Pricing Change Brings Higher Margins For Reverse Mortgages

Fannie Mae announced some significant pricing changes yesterday, just a few days before lenders will make the switch to mandatory delivery for live pricing.  The change brings higher margins to the reverse mortgage industry with some lenders offering CMT based HECMs with margins as high as 3.75%. According to people who attended last weeks NRMLA […]

Senior Lending Network CEO Provides Insight Into Switching To LIBOR

Several different’ people were voicing their opinion on the Senior Lending Network’s decision to eliminate the CMT based reverse mortgage product last week and SLN was paying attention.  To provide a bit more insight into why the decision was made, SLN’s CEO David Peskin responded with the following statement:

Senior Lending Network Moves To LIBOR, Eliminates CMT Based Reverse Mortgages

The Senior Lending Network announced earlier this week that it was moving all of its products to LIBOR starting on Monday, March 16, 2009.  According to the notice sent to brokers, SLN believes the pricing on CMT products will further diminish, therefore making the need for this product insignificant in today’s marketplace.  In the email, […]

Changes At Senior Lending Network, Revamps Wholesale Strategy

Late this week the Senior Lending Network announced it was changing its direction of its wholesale channel to concentrate on a specific market niche and is no longer interested in high volume and low touch business in this economy.  As part of the new direction, the company was forced to lay off some of its […]

Want a Signed Copy of Robert Wagner’s New Book?

The Senior Lending Network was nice enough to provide me with a few copies of your favorite Reverse Mortgage Spokesperson’s new book.  Robert Wagner’s new book Pieces of My Heart is a big seller and the copies I have are signed by Mr. Robert Wagner himself.  How do you get a copy?  The first couple […]