Class Action Suit Against Reverse Mortgage Lenders, Servicers Dismissed

A class action lawsuit filed in the Eastern District Court of New York in October of 2018 against reverse mortgage companies Live Well Financial, Reverse Mortgage Funding (RMF) and Compu-Link Corporation (Celink) has been dismissed indefinitely, though the plaintiff has the option to refile against one of the companies after its own legal woes have […]

Australian Lender Completes Reverse Mortgage Securitization

A lender in Australia who offers reverse mortgages to local area seniors has completed a reverse mortgage-backed securitization, saying that it is the first of its kind in the market. This is according to original reporting at news outlets Banking Day and NZ Herald, which provides finance industry and general news, respectively, to Australia and […]

Longbridge Bolsters Training Division, Expands Online Wholesale Features

Mahwah, N.J.-based reverse mortgage lender Longbridge Financial announced several new initiatives today including new hires to the company’s training department, while also bolstering the online presence of its wholesale division to include new features for brokers and additional educational materials to allow new brokers to become more accustomed to the specifics of the reverse mortgage […]

HEQ: Liberty President on Growing the Reverse Mortgage Business by Expanding Distribution

The path toward a more robust reverse mortgage industry which includes a broader pool of borrowers seeking out home equity conversion in order to expand their financial options in retirement runs directly through the ability for the industry to bolster its distribution infrastructure in the future. This can allow the industry to more flexibly respond […]

Investment Firm Touts Longbridge’s Reverse Mortgage Success in Earnings Call

Mortgage investment firm Ellington Financial LLC (NYSE: EFC) released its Q2 2020 earnings results last week, and has touted the success of top 10 reverse mortgage lender Longbridge Financial, describing the lender’s performance as a “driver” of positive performance in its mortgage investments portfolio. “The Company’s investments in loan originators had strong performance during the […]

Quicken Loans Files for IPO After Three Years of Annual Profits

Rocket Companies, Inc. — parent company for Quicken Loans and Rocket Mortgage — has filed for an initial public offering (IPO) to allow the trading of its shares on the U.S. stock market after disclosing an annual profit for the past three years. This is according to original reporting at Bloomberg. “The Detroit-based company, which […]

How Fairway’s Company Culture Is Fueling its Record Reverse Mortgage Growth

Like most lenders, top-10 reverse mortgage lender Fairway Independent Mortgage Corporation has seen increasing levels of business during the COVID-19 coronavirus pandemic. But there’s more to the story than simply new demand, says National Reverse Mortgage Director Harlan Accola. In addition to economic factors felt across the industry and U.S., Accola attributes to new interest […]