To ease the reverse mortgage experience for the company’s borrowers and originators, Longbridge Financial is launching a consumer-facing servicing website for its customers. Through the new platform, which will be rolled out in stages and will first be available to new customers starting June 3, borrowers will be able to access their loan information via […]
Although they can often be a tough sell, reverse mortgages can likely help financial clients who find themselves running out of money in retirement. This is according to an article appearing in Financial Advisor by writer Dan Jamieson. Home equity can be tapped for a number of reasons, including to pay off existing mortgages, mitigate […]
The required Federal Housing Administration (FHA) approval process for condominiums has been a consistent thorn in the side of the reverse mortgage business. Because it is the full condo complex that is required to have FHA approval, lenders have to approach each un-approved complex’s association or board in order to encourage them to go through […]
On the heels of the lowest annual reverse mortgage volume recorded since 2005, originators say that based on January business activity, they are sensing an upswing is under way.Despite not having accurate data due to the longest partial government shutdown in American history, reverse mortgage originators across the country noted increased activity in their offices […]
Private alternatives to the government-insured Home Equity Conversion Mortgage (HECM) are becoming more popular — particularly for people with high-value properties — and have been seen by some in the reverse mortgage industry as a possible factor that could save the business from generally reduced volume, and the still-felt impact of October 2017’s changes to […]
Reverse Mortgage Funding took the top position in annual HECM Mortgage Backed Securities issuer rankings in 2018 with 41% market share and responsible for $3.92 billion of HMBS securities, according to data compiled by New View Advisors. The reverse mortgage lender, founded in 2013, was followed by AAG, Finance of America Reverse, Ocwen Loan Servicing […]
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