The RMD Podcast #8: Top Stories of 2019

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 […]

Top 10 Reverse Mortgage Stories of 2019

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 […]

SEC Case Against Live Well CEO Suspended Pending Criminal Case

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 […]

Top 10 Reverse Mortgage Lenders Reshuffle in 2019

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 […]

Former Live Well CEO Granted More Time to Answer Civil Charges

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 […]

Reverse Mortgage Endorsements Get ‘Sugar Rush’ in October

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 […]

Flagstar Bank Disposes of Live Well Financial Exposure

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 […]

Feds Aim to Seize Hild Properties in Wake of Fraud Charges

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 […]

Former Live Well CEO Pleads ‘Not Guilty,’ Trial Set for Oct 2020

After being charged by the U.S. government in an alleged $140 million bond fraud scheme last week, former Live Well Financial CEO Michael C. Hild has pleaded “not guilty” to all charges against him and will be tried in the Southern District Court of New York next fall, based on court filings obtained by RMD. […]

Reverse Mortgage Endorsements Splashed with ‘Cold Water’ in August

Home Equity Conversion Mortgage (HECM) endorsements fell by 15 percent to 2,341 loans for the month of August 2019, a disappointing figure considering that the past six months have seen more positive endorsement activity spinning out of the uncertainty exhibited at the start of the year. This is according to the August HECM Lenders report […]