Live Well Financial has halted fundings for new reverse mortgage loans and some loans in process, RMD has learned from wholesale account executives within the company. Some sources indicate the company will cease operations entirely. Several reverse mortgage wholesale account executives with the Richmond, Va.-based mortgage company informed their accounts Thursday and Friday via phone […]
Last August, the Mid-Atlantic region of the country outpaced all other regions in loan originations with a 28.2 percent increase in growth over the previous month, according to Reverse Market Insight. But have originators throughout the area continued to build on that momentum? Regional Stats: Total Mid-Atlantic Population: 57.3 million (U.S. Census)Senior Population (Ages 65 […]
Southern California is one of the most prolific reverse mortgage markets in the country, with high property values providing the possibility for seniors to tap into a potentially large pool of equity in order to more adequately fund a retirement. For some, a reverse mortgage can also provide a much-needed way out of serious financial […]
Two Florida-based reverse mortgage companies – Reverse Mortgage Advisors based in Lady Lake, and Access Reverse Mortgage Corp. based in Clearwater – are combining personnel and resources in order to “serve clients more effectively” and “ensure homeowners get the most from their property,” according to a press release. “We will all move forward under the […]
American Advisors Group (AAG) today announced the introduction of a new program called “AAG & You, Better Together,” a result of the company’s increased investment in wholesale partner relationships. The program includes a new online portal that aims to provide more than 700 of AAG’s approved wholesale partners with access to product-specific information and tools […]
As the barrier between the origination of forward and reverse mortgages continues to erode, charting the course of a forward loan officer into the reverse business highlights many of the ongoing difficulties for those moving into a similar, yet very different kind of business. Forward loan officers may bring misconceptions as they enter reverse mortgages, […]
The difficulties that surround establishing a reverse mortgage transaction with a condominium as the liened property is a persistent issue in the larger reverse mortgage industry, and requires a degree of sensitivity from loan officers working with potential borrowers who are trying to use a condo as the basis for a reverse mortgage. Because of […]
The next offering of bonds from Finance of America Reverse (FAR) that are backed by defaulted reverse mortgages includes a higher percentage of loans from a 2017 transaction which collapsed recently. This is according to a story in Asset Securitization Report (ASR). “Nearly 67% of the loans in the $309 million loans and repossessed properties […]
Figure Technologies, providers of alternative home equity tapping tools including a sale leaseback offering that is competitive with traditional reverse mortgages, announced a new hire last month that expands the company’s positioning as a vendor of tools that can help seniors in funding their retirement. John Sweeney has been appointed as head of Wealth and […]
Ditech Holding Corporation, parent company of Reverse Mortgage Solutions (RMS), announced its fourth quarter and full year 2018 financial results in a form 10-K filing released Tuesday, which details an expectation that their unprofitable reverse mortgage arm will remain so while also saying that the company cannot guarantee that it will successfully emerge from Chapter […]
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