The U.S. government is seeking to nullify a series of defenses made by a reverse mortgage lender in a lawsuit stemming from loans originated between 2008 and 2010.
In a filing by the federal government, Michael Hild’s former representation in his April bond fraud trial takes issue with allegations that he was distracted by personal issues and therefore unable to adequately defend Hild from government charges.
Sentencing for an alleged co-conspirator in a bond fraud scheme for which a former reverse mortgage executive was convicted has been delayed, while the lender’s pending case by the SEC has been stayed for the moment.
The president followed in the footsteps of his predecessors to proclaim June “National Homeownership Month,” using his proclamation to spotlight housing efforts of his administration including in a way that affects reverse mortgage borrowers.
In HUD-specific components of the new White House budget proposal, a clearer picture of the Biden administration’s perspectives and priorities for the Home Equity Conversion Mortgage (HECM) program and the Mutual Mortgage Insurance (MMI) Fund begins to emerge.
A housing policy expert describes some of the essential ways the reverse mortgage industry may be able to act in order to get good HECM program policy from the government, including an aim to “reframe” the way they perceive the reverse mortgage as a tool for seniors.
After striking a deal in the early hours of Wednesday morning between Senate Republicans, Democrats and the White House, the U.S. Senate on Wednesday moved toward a vote on an historic stimulus bill aimed to relieve economic stress for Americans affected by the outbreak of the COVID-19 coronavirus. The bill will reportedly relax some of […]
Social Security benefit payments constitute the cornerstone of income for the majority of American retirees. For existing and potential reverse mortgage borrowers alike, keeping up-to-date on any changes in the Social Security program will prove to be essential information for anyone taking a proactive approach to retirement planning. Always a flashpoint of ongoing debate and […]
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 […]
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. […]