After acquiring top-10 reverse mortgage lender Retirement Funding Solutions (RFS) in 2018 and a change in ownership structure, Mutual of Omaha Mortgage is gearing up for the long haul in reverse mortgages. In part, it’s doing this through access to its network of 350 forward originators and its national presence. After a period of transition […]
The trial of Michael C. Hild — the former CEO of defunct reverse mortgage lender Live Well Financial — for an alleged bond fraud scheme is still slated to begin this coming October, as a couple of additional developments in the unfolding story have taken place that could affect its trajectory. This is according to […]
Mahwah, N.J.-based reverse mortgage lender Longbridge Financial reports that it has seen a significant uptick in loan volume during the COVID-19 coronavirus pandemic, which has led to a major expansion of its wholesale operations and staff in order to compensate for the higher level of business during the second quarter of the year. That higher […]
The economic impact of the COVID-19 coronavirus pandemic has universally affected the operations of virtually every business in America, with many non-essential operations shuttered for months following the spread of the virus into global pandemic status as people and organizations grappled with ways to continue operating. The reverse mortgage business is no exception, particularly since […]
Madison, Wis.-based Fairway Independent Mortgage Corporation has added to its national reverse mortgage leadership team by appointing TImothy Harder as its national reverse marketing specialist. He will also be working with the company’s operations, marketing and sales teams to implement and update workflow processes to expand growth throughout the organization. Timothy Harder Harder brings with […]
Southfield, Michigan-based 1st Nations Reverse Mortgage announced this week that the company has hired industry veteran Ken Krajewski as head of reverse mortgage lending. The company, which offers reverse mortgages through both wholesale and retail channels is a division of Midwest Loan Solutions. “The addition of passionate and highly qualified reverse mortgage specialists to their […]
When looking at the levels of business for the reverse mortgage industry in the Mid-Atlantic region of the United States, a clear-cut contender for the highest levels of volume among the eight states and the District of Columbia clearly emerges. According to reverse mortgage loan data from the U.S. Department of Housing and Urban Development […]
While lenders have reported an increase in general interest around reverse mortgages during the COVID-19 pandemic, both from prospective borrowers and financial planning professionals, several factors are also leading to an increase in refinances of existing reverse mortgages at the same time. Given the pre-pandemic climate and subsequent economic downturn, the market has seen an […]
During a time when financial planners have taken a renewed interest in reverse mortgages for their clients, a recent Realtor.com article suggests Realtors may also see a possible resurgence in reverse mortgage interest ahead. “For those close to retirement, a lack of savings may mean monthly expenses go unpaid. As a result, retirees may be […]
Reverse mortgage endorsement volume for April as reported by the Department of Housing and Urban Development earlier this week indicated a month-over-month decline of roughly 45% — to just over 1,600 loans. But the numbers aren’t reflective of what’s happening in the market, several industry sources have shared with RMD, particularly at a time when […]
