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REO News

Live Well Creditors Act to Force Company Into Bankruptcy

In the latest event to unfold in the ongoing saga surrounding the May closure of Virginia-based lender Live Well Financial, three of the company’s former creditors are now seeking to use the court system to force the remains of the company into involuntary bankruptcy protection, using apparent investigations being made by regulators and federal law […]

The post Live Well Creditors Act to Force Company Into Bankruptcy appeared first on Reverse Mortgage Daily.


CFPB Releases Spanish Language Translation of Reverse Mortgage Guide

The Consumer Financial Protection Bureau (CFPB) announced this week that it has released a new version of its consumer guide to reverse mortgages, translated for Spanish-speaking consumers. “The guide, also available in English, provides an overview of many key concepts of reverse mortgage loans,” said Cora Hume from the CFPB Office of Older Americans in […]

The post CFPB Releases Spanish Language Translation of Reverse Mortgage Guide appeared first on Reverse Mortgage Daily.


Origins: A Father-Daughter Team Shaping the Reverse Mortgage Landscape

There’s an old adage that says that “two heads are better than one,” and when it comes to the promotion and origination of reverse mortgages, having a team work together toward a common goal can often be a difference-making advantage. One of those teams is a little more unique than others that you may find, […]

The post Origins: A Father-Daughter Team Shaping the Reverse Mortgage Landscape appeared first on Reverse Mortgage Daily.


USA Today Publishes Industry Op-Ed on Reverse Mortgage Report

A rebuttal to an investigative article released this week by USA Today has been published in the form of an editorial also released in the national news outlet, written by the Chief Executive Officer of the National Reverse Mortgage Lenders Association (NRMLA). In the editorial, titled “A reverse mortgage can be a lifesaver,” Peter Bell […]

The post USA Today Publishes Industry Op-Ed on Reverse Mortgage Report appeared first on Reverse Mortgage Daily.


Hometown Lenders to Launch HECM Lending Channel, Partner With ReverseVision

Editor’s note: RMD has learned that the launch of Hometown’s reverse mortgage division is forthcoming and is not yet operational. We will provide future updates as information becomes available.  Hometown Lenders, an 80-branch mortgage lender, will be launching a reverse mortgage division with the support of ReverseVision. The company will work with the support of ReverseVision’s software and will begin offering […]

The post Hometown Lenders to Launch HECM Lending Channel, Partner With ReverseVision appeared first on Reverse Mortgage Daily.


Urban Institute: Panel Discusses Aging in Place, HECM Program

While a continuous stream of surveys continue to corroborate that seniors overwhelmingly prefer to age in place, making a determination about exactly the right place for them to age is a more difficult and complex issue to try and answer. This is according to a recently and privately convened panel of experts on aging and […]

The post Urban Institute: Panel Discusses Aging in Place, HECM Program appeared first on Reverse Mortgage Daily.


USA Today Investigates Reverse Mortgage Foreclosures, Evictions

A new in-depth investigation on foreclosure actions related to reverse mortgages published late Tuesday by USA Today paints a bleak picture surrounding the activities and practices of the reverse mortgage industry, but also relates some questionable and out-of-date information in key areas highlighted by the investigation, according to industry participants who spoke with RMD. The […]

The post USA Today Investigates Reverse Mortgage Foreclosures, Evictions appeared first on Reverse Mortgage Daily.


Live Well Challenges Former Employee’s Wrongful Termination Lawsuit

A week after the closure of mortgage lender Live Well Financial, a former employee filed a class-action lawsuit alleging lost wages and wrongful termination under the terms of the Worker Adjustment and Retraining Notification (WARN) Act, which requires 60 days of advance notice before dismissing employees. Now, Live Well is pushing back by challenging the […]

The post Live Well Challenges Former Employee’s Wrongful Termination Lawsuit appeared first on Reverse Mortgage Daily.


Tips for Tackling Closing Costs With Reverse Mortgage Borrowers

No matter the business, there are always issues that can come up when trying to close a deal. In the reverse mortgage industry these hurdles can be particularly bothersome because, as most loan originators know, consumers have access to all kinds of inaccurate information that could make them nervous about engaging in a reverse mortgage […]

The post Tips for Tackling Closing Costs With Reverse Mortgage Borrowers appeared first on Reverse Mortgage Daily.


U.S. News: Senior Mortgage Tips Include Reverse Mortgages

A mortgage finance expert describes how reverse mortgages can potentially act as a “lifesaver” for some seniors in specific financial situations, along with offering advice related to home equity levels and optimal financial planning strategies related to taking a reverse mortgage out. This is according to a new piece running down mortgage tips for seniors […]

The post U.S. News: Senior Mortgage Tips Include Reverse Mortgages appeared first on Reverse Mortgage Daily.