The Challenges of Transitioning Between Reverse and Forward Mortgages

A climate of generally reduced reverse mortgage volume has led to more companies expanding their offerings into the traditional mortgage space. Companies like iReverse Home Loans and Nationwide Equities have made their expansion efforts into the forward space clear, but reverse mortgage practitioners seem split on whether or not reverse mortgage products are generally more […]

How Reverse Mortgage Lenders Handle the Condo Approval Process

The required Federal Housing Administration (FHA) approval process for condominiums has been a consistent thorn in the side of the reverse mortgage business. Because it is the full condo complex that is required to have FHA approval, lenders have to approach each un-approved complex’s association or board in order to encourage them to go through […]

Nationwide Equities Targets New Focus, Celebrates 20th Anniversary

Nationwide Equities is taking a targeted approach to expansion on the heels of an important milestone: 20 years in the mortgage business. The company is charting growth through a greater focus on proprietary products and non-QM loans while maintaining its Home Equity Conversion Mortgage presence, says co-founder Glenn Wallace. The focus on new channels will […]

Liberty Pilots Jumbo Product Amidst Strong Reverse Performance for Ocwen

Ocwen Financial Corporation (NYSE: OCN), parent company of Liberty Home Equity Solutions, recorded fourth quarter and full year 2018 losses overall, but a continuing point of positivity in the midst of other business difficulties continues to be the company’s reverse mortgage division, according to financial statements released this week. The company also announced the launch […]

TotalChoice Mortgage Shifts Into Reverse For New Business

During a time when many lenders have stopped offering reverse mortgages, or have geared operations in other directions, one Ohio lender is making new inroads into the space. Columbus, Ohio-based TotalChoice Mortgage announced its entry into the HECM market last week, making new strategic hires and incorporating an existing reverse mortgage team into its operations […]

Ditech Secures Financing for RMS During Restructuring

Reverse Mortgage Solutions (RMS) will continue its operations during its bankruptcy proceedings due to financing secured by its parent company, Ditech Holding Corporation, according to a new 8-K filing by Ditech with the Securities and Exchange Commission (SEC). According to the filing, the bankruptcy court approved an order for Ditech’s debtor-in-possession (DIP) facilities, allowing Ditech […]

The Eroding Barriers Between Forward and Reverse Mortgage Originators

As more reverse mortgage companies continue to expand their operations into the forward space in response to business changes and new realities, a shift appears to be taking place in what was once seen as conventional wisdom: the separation of forward and reverse mortgage business practices, in order for originators to remain specialized in one […]

HighTechLending Aims to Build on January Volume Spike

While most lenders saw reverse mortgage volume fall in January, one among the top-10 saw a notable increase in closings. As noted in Department of Housing and Urban Development data released in January and analyzed by Reverse Market Insight (RMI) earlier this month, HighTechLending (HTL) saw a notable 513 percent jump to 49 loans, an […]

RMS Updates Reverse Mortgage Borrowers As Parent Company Restructures

Ditech Holding Corporation (NYSE: DHCP), parent company of Reverse Mortgage Solutions (RMS), announced today that it has filed filed for voluntary reorganization under Chapter 11 of the U.S. Bankruptcy Code. As a result of the process, some borrower payments may have been temporarily impacted, the company said in a notice to customers. Certain subsidiaries including […]

Active 55+ Communities Present Growing Reverse Mortgage Opportunity

Lifestyle communities for residents over the age of 55 can be popular retirement locations for seniors, with a whole host of regular activities, encouragement of an active lifestyle and engagement with people from a senior’s own generation. On top of the benefits to potential residents, builder confidence in age-restricted 55-plus housing ended 2018 on a […]