Three Years In, Underwriters Say LESA Has Improved Reverse Mortgages

It’s been nearly three years since the Department of Housing and Urban Development introduced Life Expectancy Set-Asides (LESAs), which require borrowers with less-than-stellar credit histories to set aside a portion of their reverse mortgage proceeds to pay taxes and insurance. It took time for underwriters to get a handle on LESA guidelines as they sought […]

Elly Johnson Joins United Northern as VP, COO of Reverse Mortgage Lending

Industry veteran Elly Johnson has joined United Northern Mortgage Bankers, Ltd., where she will serve in the newly created position of vice president and chief operating officer of reverse lending. Johnson, who has spent more than 35 years in the mortgage industry, joins United Northern after serving as president of AllReverse Pro Consulting and the […]