HEQ: Liberty President on Growing the Reverse Mortgage Business by Expanding Distribution

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 […]

Previously Paused Private Reverse Mortgages Return, RMF Adds LOC Product

Reverse Mortgage Funding (RMF) and Liberty Reverse Mortgage, respectively, have each resumed offering their previously-suspended proprietary reverse mortgage products after observing increased stability in market conditions. In addition, RMF is also introducing a new variation of its private product with a line of credit feature. This is according to representatives from both companies during a […]

Major Lenders Buck April Endorsement Dive With Big Gains

Home Equity Conversion Mortgage (HECM) endorsements fell by 45% in the month of April 2020, for a total of 1,597 loans according to the latest HECM Originators report from Reverse Market Insight (RMI). The fall was led by the wholesale endorsement segment of business, which experienced a decrease of 47.8% that month, while retail levels […]

Retail Leads Wholesale in February Reverse Mortgage Endorsement Drop

Home Equity Conversion Mortgage (HECM) endorsements fell by 13.7% in the month of February 2020, for a total of 3,381 loans according to the latest HECM Originators report from Reverse Market Insight (RMI). The fall was led by the retail endorsement segment of business, which experienced an decrease of 24.4% that month, while wholesale levels […]

Ocwen Stock Drops Below NYSE Standard

Ocwen Financial Corporation, the parent company of reverse mortgage lender Liberty Reverse Mortgage, has been notified by the New York Stock Exchange (NYSE) that the average per share trading price of its common stock was below the NYSE’s minimum average share price rule, which could potentially lead to the stock’s delisting from the exchange without […]

Reverse Mortgage Industry Hopeful for Private Product Expansions

Proprietary reverse mortgage products that are not reliant on the Federal Housing Administration (FHA)-backed Home Equity Conversion Mortgage (HECM) program remain a major source of industry optimism for those within it as of the beginning of 2020. This is according to Reverse Mortgage Daily’s Outlook Survey and Report, conducted online in December 2019. The survey […]

Liberty, RMF Suspend Private Reverse Mortgages Over Pricing Volatility

Two proprietary reverse mortgage products – EquityIQ from Liberty Reverse Mortgage and Equity Elite from Reverse Mortgage Funding (RMF) – have been ‘temporarily suspended’ by the lenders due to current levels of volatility in financial markets caused by the COVID-19 coronavirus pandemic. This is according to communications that both lenders separately issued to their partners, […]