Ditech Risks Default, Avoids Second Bankruptcy and Terminates COO

Ditech Holding Corporation (NYSE: DHCP), parent company of Reverse Mortgage Solutions (RMS), elected not to make an approximately $9 million cash interest payment to its creditors that was due on December 17, 2018. With Thursday marking the end of a 30-day grace period related to that payment, that decision has put the beleaguered corporation at […]

Inside Reverse Mortgage Alternatives: QuantmRE

The leadership team behind a new equity release product made available at the end of 2018 understands that it is competing with standard home equity conversion products like reverse mortgages, but also say that the increasing prevalence of tools dedicated to tapping home equity is helpful in educating prospective customers about ways in which they […]

For Reverse Mortgage Originators, Government Shutdown is Business as Usual

Although new endorsements of Home Equity Conversion Mortgages (HECMs) have been halted due to the partial government shutdown that began on December 22, reverse mortgage originators are largely conducting business as usual in spite of the gridlock plaguing Washington, D.C. Certain FHA services related to pre-existing HECM loans will still be available during the shutdown, […]

iReverse Home Loans Acquired by Reverse Mortgage Industry Veteran

San Diego, Calif.-based reverse mortgage broker iReverse Home Loans Corporation has been acquired by longtime mortgage producer and manager Michael A. Mazursky, according to a press release from the company distributed on Monday. Terms of the acquisition deal were not publicly disclosed. “Mr. Mazursky has a proven eighteen-year track record in the mortgage industry and […]

December HECM Endorsements Drop 31%, Marking New Low

Home Equity Conversion Mortgage (HECM) endorsements dropped again in December by 31.4 percent, representing a second consecutive new low in volume since the influential changes to principal limit factors (PLFs) instituted by the U.S. Department of Housing and Urban Development (HUD) in October 2017. “If the government shutdown didn’t get you down for year end, […]

Wholesale Reverse Mortgage Volume Rebounds After Dismal November

After posting one of the lowest volume totals all year this past November, the reverse mortgage wholesale channel rebounded to close 2015 on a positive note and finally put an end to its three-month streak of declines.  Reverse mortgage volume on the whole struggled in the last few months of 2015 as the everlasting impact […]