RMD Report: Sources of 2020 Optimism for the Reverse Mortgage Industry

In spite of declined reverse mortgage endorsements observed in calendar year 2019, the reverse mortgage industry continues to feel general optimism for the trajectory of the business in the early days of 2020. Sources of general optimism include the increasing prevalence of proprietary reverse mortgage products, the signing of new financial legislation and a generally […]

Reverse Mortgages Continue Booming North of the Border

HomeEquity Bank, the largest reverse mortgage lender in Canada, posted record originations in 2019 as Canadian retirees continue to seek out financing options designed to fill in for the increasing rarity of traditional retirement funding, such as pensions. Additionally, HomeEquity Bank’s recently-entered rival in the Canadian reverse mortgage space has seen its own business grow […]

Longbridge CEO Talks Private vs. HECM Reverse Mortgages, Branding Power

There will hopefully come a time when the reverse mortgage market, currently dominated by Home Equity Conversion Mortgages (HECMs) backed and guided by the federal government, will be eclipsed by the greater availability of private alternatives. Overcoming reputational concerns in the larger reverse mortgage market may also be accomplished by focusing on product features and […]

Longbridge Launches Platinum Origination Channel for Private Reverse Mortgages

Reverse mortgage lender Longbridge Financial announced the launch of the Platinum Origination Channel, a new distribution outlet for its line of proprietary reverse mortgages offered under the “Platinum” brand name. The new channel will provide the ability for those who have their own third-party networks to offer Platinum products to their partners as part of […]

Starwood Capital Affiliate to Acquire Reverse Mortgage Funding Parent

Reverse Mortgage Investment Trust (RMIT), the parent company of Reverse Mortgage Funding, LLC (RMF) has announced that it has agreed to be acquired by an affiliate of Starwood Capital Group, a global private investment firm which is focused on real estate investments, and which maintains more than $60 billion of assets under management. Terms of […]

RMD Report: Low Rates, Private Products Boost 2019, Say Industry Leaders

The reverse mortgage market, comprising both traditional Home Equity Conversion Mortgages (HECMs) and proprietary loans, has been through a turbulent year in 2019. While year-over-year volume has shown a decline in the number of HECM originations when comparing the fiscal year data of 2018 and 2019, a number of other more positive developments have occurred. […]

RFS Rebrands, Becomes Mutual of Omaha Mortgage

Retirement Funding Solutions (RFS) – a subsidiary of Mutual of Omaha Insurance-owned Synergy One Lending – will be rebranding under a new company name as Mutual of Omaha Mortgage. This rebranding effort reflects its association with its parent company and an effort on Mutual of Omaha’s part to align its reverse mortgage business more closely […]

Reverse Mortgage Veteran Adrian Prieto Joins Longbridge

Reverse mortgage industry veteran Adrian Prieto has joined Mahwah, N.J.-based Longbridge Financial as its new assistant vice president and wholesale lending sales leader, according to a statement the company shared with RMD. In his new position, Prieto will lead the Longbridge account executive and partner liaison team to focus on wholesale business growth, with a […]

Liberty Parent Continues Inching Back into the Black

Ocwen Financial Corporation, parent company to reverse mortgage lender Liberty Home Equity Solutions, is beginning to see its reorganization efforts steer the company back toward financial profitability, however it endured a loss in the third quarter of 2019 that is slightly higher than the recorded loss the same time one year prior, according to financial […]

HighTechLending: What Being a Top 10 Lender Means

In a climate of reduced reverse mortgage volume industry-wide, one lender is leaning on its seasoned staff and reliable business practices to maintain its position as a top-10 lender. Keeping that position can be difficult in an environment of generally reduced volume, where reverse mortgage endorsements have dropped 35% between fiscal year 2018 and 2019 […]