As public companies in the forward mortgage business report a lot of reduced earnings, public companies with reverse mortgage segments are touting those divisions’ solid performance, as noted by RMD’s editor in this new commentary.
Ocwen Financial, parent company of Liberty Reverse Mortgage, provided more detail about its hopes to offer end-to-end capabilities in the reverse mortgage business after acquiring Reverse Mortgage Solutions (RMS).
Liberty Reverse Mortgage President Mike Kent sat down with RMD to discuss some of the ways in which the recent acquisition by the lender’s parent – Reverse Mortgage Solutions – could affect the company and the industry landscape.
Liberty Reverse Mortgage parent company Ocwen Financial Services has announced that its subsidiary PHH Mortgage Corp has acquired the operations, employees and assets of Reverse Mortgage Solutions (RMS) from its previous owner, Mortgage Assets Management, LLC (MAM).
Liberty Reverse Mortgage parent company Ocwen Financial Services reported strong results for Q1 2021, pointing out the performance of its reverse mortgage business while at the same time touting the dismissal of a case brought against it by the CFPB.
Ocwen Financial Corporation (NYSE: OCN), parent company of top 5 reverse mortgage lender Liberty Reverse Mortgage, today announced strong fourth quarter 2020 earnings results and cited its reverse mortgage division as a continuing driver of profitability in an earnings call taking place on Wednesday morning. As the company continues to implement practices to further stabilize […]
Home Equity Conversion Mortgage (HECM) endorsements fell by 9.4% in the month of November 2020, for a total of 3,390 loans according to the latest HECM Originators report from Reverse Market Insight (RMI). The fall comes in the midst of generally heightened reverse mortgage industry activity that has been taking place over the past few […]
Though the onset of the COVID-19 coronavirus pandemic caused a great deal of turbulence and uncertainty in different parts of the reverse mortgage business, indications from lenders, brokers and originators signify that the economic situation created by the unique moment created additional interest in the reverse mortgage product category. For the new year, that has […]
Liberty Reverse Mortgage and PHH Mortgage Corp parent company Ocwen Financial Corporation announced today that it has concluded its court-ordered mediation process with the Consumer Financial Protection Bureau (CFPB), a process which has failed to produce a settlement. “We are disappointed that settlement discussions with the CFPB did not resolve this matter, in particular since […]
The experience of working in the reverse mortgage industry in 2020 inspired many different reactions at different parts of the year, from general optimism in the first couple of months to uncertainty during the immediate onset of the COVID-19 coronavirus pandemic. Soon after that point, things started to take a bit of a different turn […]