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 […]
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, […]
The reverse mortgage industry is taking a series of major steps in order to prepare for the full impact of the coronavirus pandemic, mobilizing working groups, changing or amending company policies to encourage social distancing with borrowers and employees, and seeking new regulatory relief in order to ensure that continuity of business is maintained for […]
Liberty Home Equity Solutions, a reverse mortgage lender and division of Ocwen Financial Services, has rebranded under a new and simplified brand name: Liberty Reverse Mortgage, a name which calls back to the company’s roots. The company will also begin operating as a division of PHH Mortgage Corporation. Both measures are effective as of March […]
