The trial of Michael C. Hild — the former CEO of defunct reverse mortgage lender Live Well Financial — for an alleged bond fraud scheme has been delayed by six months, due to complications arising from the COVID-19 coronavirus pandemic. This is according to original reporting by RichmondBizSense and court documents obtained by RMD. According […]
The trial of Michael C. Hild — the former CEO of defunct reverse mortgage lender Live Well Financial — for an alleged bond fraud scheme is still slated to begin this coming October, as a couple of additional developments in the unfolding story have taken place that could affect its trajectory. This is according to […]
In the eighth episode of The RMD Podcast, RMD Executive Editor and Aging Media Network Director of Content Elizabeth Ecker joins host Chris Clow to talk about the biggest reverse mortgage industry stories covered by RMD in 2019! The past year has been a very eventful one for the reverse mortgage industry, and as we […]
The reverse mortgage industry is about to close out another eventful year on the calendar, which has naturally put those of us in the RMD offices in a bit of a reflective mood as we get ready to say goodbye to 2019. The year has not been without its interesting and eye-catching stories, whether discussing […]
After Michael Hild successfully requested additional time to respond to civil charges levied against him by the Securities and Exchange Commission (SEC) last month, the federal government has intervened in that civil lawsuit filed against the former Live Well Financial CEO. This is due to the concurrent criminal case filed against him and his former […]
While the reverse mortgage industry has seen its share of change, the top-10 lenders by volume has remained relatively unchanged over the last year. Yet the lender rankings within the top 10 have shifted, to present a top-10 in October 2019 that looks different in some ways from the same tabulation a year earlier. RankCompany […]
The former CEO of defunct reverse mortgage lender Live Well Financial has been granted additional time to respond to civil charges levied against him and his former company by the federal government. Michael Hild, charged in a $140 million bond fraud scheme on both civil and criminal fronts, was granted an additional 30 days to […]
Home Equity Conversion Mortgage (HECM) endorsements rose by 36.2% to 3,296 loans for the month of October 2019, a boon to the activity observed over the last couple of months with all major regions and the majority of the top 10 lenders recording increases in activity. This is according to the October HECM Lenders report […]
After disclosing that it had endured a $74 million financial exposure in the wake of Live Well Financial’s abrupt closure this past May, Flagstar Bancorp has announced that it has now shed all of the securities that served as collateral for its loan to the now-defunct reverse mortgage lender. Flagstar detailed that the burden of […]
In the wake of one “not guilty” plea entered for each of the five counts against former Live Well Financial CEO Michael C. Hild in a bond fraud case, federal authorities are now stating that they are within their rights to seize the majority of assets Hild owns in the Richmond, Va. area, according to […]
