Madison, Wis.-based Fairway Independent Mortgage Corporation has made two new, key hires to its national reverse mortgage leadership team, the company announced on Thursday. Tom Evans has joined Fairway as VP of marketing for the company’s reverse mortgage division, while Peter Sciandra is Fairway’s new national manager of reverse mortgage sales, as the company seeks […]
Primary Residential Mortgage (PRMI)’s Steven J. Sless Group, the lender’s consumer-direct retail branch focused solely on reverse mortgages in Owings Mills, Md., has hired Joseph Susserman as a reverse mortgage loan originator to its primary office. Joseph Susserman Susserman has 10 years of mortgage industry experience he will be bringing to his new role, including […]
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 […]
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 […]
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 […]
The reverse mortgage industry is always on the offensive when it comes to adequately educating potential clients about the ways in which the product category can be used by those at or near retirement, but a potential key to expanding the reverse mortgage business could be in the equal presentation of a reverse option for […]
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 […]
While the reverse mortgage industry has managed to weather the economic shock of the COVID-19 coronavirus pandemic reasonably well in the broader financial situation we’re now living in, some lenders are also still managing to grow. Taking a strategic approach to the ways in which economic shock can be endured or even avoided is something […]
The reverse mortgage industry hoped for the best and prepared for the worst shortly after the onset of the COVID-19 coronavirus pandemic, but industry leaders from some of the top lenders in the space are encouraged by the way the business has performed, owing to the demonstrated value that a reverse mortgage has presented to […]
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 […]
