Austin, Tex.-based multi-channel mortgage lender Open Mortgage announced on Wednesday that it is suspending its ad buying on social media platforms owned by Menlo Park, Calif.-based Facebook in protest of those platforms’ policies related to the proliferation of misinformation and hate speech, the company said. The lender is joining prominent corporations including beverage maker The […]
The ability to conduct business through non-traditional means has become a necessity for virtually every company that has continued operations throughout the COVID-19 coronavirus pandemic, and reverse mortgage companies are no exception. Scott Gordon One reverse mortgage company that has continuously reiterated its dedication to technological innovations is top 10 lender Open Mortgage, as CEO […]
Home Equity Conversion Mortgage (HECM) endorsements fell by 45% in the month of April 2020, for a total of 1,597 loans according to the latest HECM Originators report from Reverse Market Insight (RMI). The fall was led by the wholesale endorsement segment of business, which experienced a decrease of 47.8% that month, while retail levels […]
This week, the Federal Reserve took an extraordinary step to contain the economic impact of the global coronavirus outbreak by slashing interest rates in the biggest single rate cut the central bank has ever made. It makes for the biggest one-time cut — half a percentage point — and the bank’s first emergency rate move […]
Home Equity Conversion Mortgage (HECM) endorsements fell by 13.6% in the month of December 2019, for a total of 2,456 loans according to the latest HECM Originators report from Reverse Market Insight (RMI). The fall was led by the wholesale endorsement segment of business, which experienced a decrease of 21.1% that month, while wholesale levels […]
At a time when reverse mortgage lenders are finding themselves with a broad, more robust product landscape, finding new ways to connect with borrowers and simplify the reverse mortgage process becomes increasingly important. With additional product options comes new ways for technology to play a part in multiple levels of the business, and reverse mortgage […]
The reverse mortgage industry as a whole has had to contend with a lot of structural changes in recent years, whether coming from the federal government in the form of mandated alterations to the Home Equity Conversion Mortgage (HECM) program, or just in terms of adapting to serve a wider swath of senior clientele who […]
A clearly-defined company culture, new technology adoption and a core footprint expansion are among the cornerstones that have turned Open Mortgage into a notable reverse mortgage lender in recent years. These are just a few of the topics discussed by Open Mortgage CEO Scott Gordon in the latest episode of The RMD Podcast, available now. […]
In the ninth episode of The RMD Podcast, Open Mortgage CEO Scott Gordon joins RMD Editor and host Chris Clow! Initially trained as a computer programmer and engineer, Gordon sits down with Chris to discuss his path into the mortgage industry, how he identified opportunities in the reverse mortgage arena, as well as his thoughts […]
Reverse mortgage technology platform ReverseVision announced last week a new partnership with cloud-based sales and management platform OptifiNow, which will use ReverseVision’s Loan Import application programming interface (API) to streamline the loan origination process for Texas-based Open Mortgage, a mutual client. The integration of ReverseVision’s API links OptifiNow’s cloud-based software as a service (SaaS) sales […]
