Synergy One to Acquire Midwest-Based Lender BBMC

Synergy One Lending announced Wednesday it will acquire some of the assets of Lombard, Illinois-based BBMC Mortgage, broadening its presence in both forward and reverse mortgage markets. San Diego-based Synergy One, which offers reverse mortgages under the Retirement Funding Solutions brand, was recently acquired by Mutual of Omaha Bank. Mutual of Omaha stated its commitment to […]

Mutual of Omaha Bank Finalizes Purchase of Synergy One

Mutual of Omaha Bank on Monday completed its purchase of Synergy One Lending, Inc., cementing its entrance into the reverse mortgage marketplace. The two parties received regulatory approval from the Office of the Comptroller of the Currency earlier this month, Mutual of Omaha Bank said Tuesday, with the transaction formally closing on July 16. The […]

Reverse Mortgage Must Reads: Expansion Down Under, Mutual of Omaha

In case you missed them the first time around, reset your industry knowledge with a look at the top stories from the last seven days — including a peek at reverse mortgages down under, and the blockbuster entrance of a new player into the space. Australian Government Rolls Out Universal Reverse Mortgage Plan — In a […]

Mutual of Omaha Bank Enters Reverse with Synergy One Acquisition

In the wake of recent changes that have substantially altered the lending landscape, the reverse mortgage space has a new entrant. Mutual of Omaha Bank on Thursday announced the purchase of Synergy One Lending, a San Diego-based lender and top-five originator of Home Equity Conversion Mortgages through its Retirement Funding Solutions brand. “We are a […]

Full November Stats Show Reverse Mortgage Endorsement Surge

The full November reverse mortgage endorsement stats are out, showing the beginning of the pre-October 2 surge — but only on the retail side. Home Equity Conversion Mortgage originators generated 4,781 loans in November 2017, according to the most recent data from industry analysts Reverse Market Insight. That total includes Federal Housing Administration-approved lenders and […]

Reverse Mortgage Endorsements Up in 2017, Fallout Likely Coming

Reverse mortgage lenders handily beat 2016 endorsement totals last year, aided by the rush to lock in principal limit factors ahead of major changes in October, but a predicted crash is close on the horizon. Federal Housing Administration-approved lenders logged 56,912 endorsements during calendar 2017, according to the most recent data from Reverse Market Insight. […]

Reverse Mortgage Endorsement Numbers Begin to Show Surge

The most recent reverse mortgage endorsement numbers show the start of a long-predicted surge caused by the introduction of lower principal limit factors in October. Home Equity Conversion Mortgage endorsements crept up 6.3% between October and November, with Federal Housing Administration-approved lenders turning in 4,782 loans. That’s according to the most recent report from industry […]

Reverse Mortgage Endorsements Fall in February, Rise YTD

Reverse mortgage endorsements declined between January and February 2017, but the overall total remains up from the same span last year, according to new data from Reverse Market Insight, Inc. Through the first two months of 2017, Home Equity Conversion Mortgage originators endorsed 8,997 loans, a gain of 6.3% from the same period in 2016 […]