Finance of America Reverse Hires Cook, Katsulos to Field Sales Team

National reverse mortgage lender Finance of America Reverse has hired industry veterans David Cook and Elena Katsulos to its field retail division, the company announced this week. Both Cook and Katsulos will hold the title of reverse mortgage specialist in their new roles and will report to Scott Norman, FAR’s national retail sales manager. Cook […]

Finance of America Reverse Launches New Reverse Mortgage Ad Campaign

Following its name change and rebranding late last year, Finance of America Reverse (FAR; formerly Urban Financial of America) has launched a new reverse mortgage advertising campaign featuring its updated branding and messaging. The campaign, titled “It Just Makes Sense,” includes six new national commercials that aim to “cut through the noise” of the reverse mortgage […]

Reverse Mortgage Lenders Adapt to New Credit Rules

The reverse mortgage Financial Assessment has brought its share of new practices and procedures to originators who have long worked around the confines of a largely “no income, no credit,” product.  Originators have reported an adjustment to the new requirements, which was to be expected. But on the topic of credit, lenders have had to […]

Hiring Efforts Heat Up in Reverse Mortgage Industry — Jobs Available Now

As the summer weather starts heating up, so too does reverse mortgage lenders’ search for top talent.   Among those who are turning up the heat on their hiring efforts are Reverse Mortgage Funding (RMF), Live Well Financial and Urban Financial of America. From wholesale account executives to loan processors and underwriters, job opportunities abound. Click […]

Moving Forward: The Reverse Mortgage Post-Financial Assessment

Now that the long-awaited Financial Assessment (FA) is finally here, reverse mortgages will draw even more comparisons to traditional mortgage lending practices as the industry moves “forward” post-April 27. With credit underwriting and residual income analysis now required by the Financial Assessment, reverse mortgages are undeniably becoming more forward-like in their nature. For many, the […]

Industry Veteran Steve Resch Joins Urban Financial’s Wholesale Team

Urban Financial of America, LLC, recently announced that industry veteran Steve Resch has joined the Wholesale Lending team as an account executive.  Resch brings to the position nearly a decade of reverse mortgage experience, most recently as the head of the Wholesale Division at Generation Mortgage, which announced its exit from reverse mortgage originations in […]

Most Top-10 Lenders See Reverse Mortgage Slump Near Year’s End

Following notable home equity conversion mortgage (HECM) endorsement growth in October 2014, nine out of the top-10 reverse mortgage lenders experienced a decline in volume in November, according to the latest Reverse Market Insight (RMI) report.  “The industry was down overall in the month, so it makes sense that many lenders would be down as well,” […]

Lenders Seek Reverse Mortgage Professionals Nationwide — Apply Today

The reverse mortgage industry is experiencing a surge in position openings, with lenders nationwide looking for talented professionals to fill their spots. The Money Store, Reverse Mortgage Funding LLC, Premier Reverse Closings and VanDyk Mortgage San Antonio, among others, are seeking reverse mortgage loan officers, regional sales managers, business development representatives, reverse mortgage originators and […]

Some HECM Originators See Loan Increases, Despite Overall Drop in Volume

Home equity conversion mortgage (HECM) endorsement volume dropped 20.6% in August, its lowest level since mid-2005, according to the latest data analysis from Reverse Market Insight (RMI).  Wholesale/broker volume dropped 26.3%, significantly more than the 16.2% decline in the retail/direct channel. “August endorsements followed the typical pattern of broker/wholesale being more volatile month to month than […]

Friday Round-Up: Reverse Mortgages Help Solve Dire Housing Situation

In case you missed it, here’s what happened in reverse mortgage news this week: Harvard, AARP: Senior Housing Situation Dire, But Reverse Mortgages Can Help An increasing number of baby boomers and those age 65 and older are carrying mortgages into retirement, pointing to a looming seniors housing crisis — but reverse mortgages can offer financial […]