Liberty Parent Posts Strong Results, Cites Reverse as Key to Portfolio Diversity

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 […]

Liberty Parent Touts ‘Very Profitable’ Reverse Mortgage Business as Fortunes Improve

Ocwen Financial Corporation (NYSE: OCN), parent company of top 5 reverse mortgage lender Liberty Reverse Mortgage, announced in an earnings call on Tuesday that it has posted its fourth consecutive quarter of positive adjusted pretax income as it has aggressively sought to return to profitability. In the midst of that announcement, the company also touted […]

HEQ: Liberty President on Growing the Reverse Mortgage Business by Expanding Distribution

The path toward a more robust reverse mortgage industry which includes a broader pool of borrowers seeking out home equity conversion in order to expand their financial options in retirement runs directly through the ability for the industry to bolster its distribution infrastructure in the future. This can allow the industry to more flexibly respond […]

Ocwen Stock Drops Below NYSE Standard

Ocwen Financial Corporation, the parent company of reverse mortgage lender Liberty Reverse Mortgage, has been notified by the New York Stock Exchange (NYSE) that the average per share trading price of its common stock was below the NYSE’s minimum average share price rule, which could potentially lead to the stock’s delisting from the exchange without […]

Liberty Home Equity Solutions Rebrands, Becomes PHH Division

Liberty Home Equity Solutions, a reverse mortgage lender and division of Ocwen Financial Services, has rebranded under a new and simplified brand name: Liberty Reverse Mortgage, a name which calls back to the company’s roots. The company will also begin operating as a division of PHH Mortgage Corporation. Both measures are effective as of March […]

Private Reverse Mortgage Volume Inches Closer to HECM

While Home Equity Conversion Mortgage-backed securities (HMBS) production fell by 14% in calendar year 2019, the additional origination of proprietary reverse mortgages could make the amount of loans backed by new collateral roughly equal to figures recorded in 2018. Additionally, data indicates that a quarter of new origination dollars come from the proprietary reverse mortgage […]

AAG, Longbridge Take Top Spots for Reverse Mortgage Securities Issuance

American Advisors Group (AAG) has retained its leading position as the top issuer of Home Equity Conversion Mortgage-backed securities (HMBS) in Q3 2019, with $1.38 billion of issuance leading to 23% of market share. This is according to publicly available GNMA data and private sources compiled by New View Advisors. The top five issuers are […]