Flagstar Faces $74 Million in Exposure on Heels of Live Well Closure

Bank holding company Flagstar Bancorp (FBC) disclosed new financial exposure of $74 million on Monday, believed to stem from the downfall of major reverse mortgage lender Live Well Financial. The company attributes the exposure, comprising a $69 million commercial loan and a $5 million warehouse line, to an unnamed, recently closed reverse mortgage lender, which […]