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Reverse Mortgage Solutions, Inc. (RMS) and REO Management Solutions, LLC were recently acquired by Mortgage Assets Management, LLC (MAM) as part of a stock and asset purchase transaction entered into with Ditech Holding Corporation. MAM is a mortgage portfolio investment company headquartered in Washington, DC.

REO News

The RMD Podcast #9: Scott Gordon, CEO of Open Mortgage

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 […]

The post The RMD Podcast #9: Scott Gordon, CEO of Open Mortgage appeared first on Reverse Mortgage Daily.


FHA Appoints New Deputy Assistant Secretary of Single Family Housing

The Federal Housing Administration (FHA) this week announced the appointment of Joseph M. (Joe) Gormley as the Deputy Assistant Secretary for the Office of Single Family Housing, effective as of January 21. Gormley’s appointment comes after the departure of his predecessor Gisele Roget late last year, who went on to become Deputy Chief of Staff […]

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3 Reverse Mortgage Factors to Fuel Market Growth

A continued favorable rate environment and increasing momentum on the proprietary side has started the reverse mortgage industry’s 2020 off on a decidedly positive note. If those elements can manage to continue through the year, then the industry will be in a very good position. This is according to perspectives shared by John Lunde, president […]

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WSJ: Forward Lenders Finding New Ways for Seniors to Qualify

For an industry that often tries to communicate the benefits of either a Home Equity Conversion Mortgage (HECM) or a proprietary reverse mortgage offering to American seniors, it may be surprising to learn that there is still a segment of older people – some of whom are quite advanced in age – that are entering […]

The post WSJ: Forward Lenders Finding New Ways for Seniors to Qualify appeared first on Reverse Mortgage Daily.


Originators Debate What to Call Private Reverse Mortgages

Proprietary reverse mortgages are becoming increasingly prevalent in the modern home equity release industry, as evidenced by the amount of new products being created by lenders as well as the general optimism the industry is feeling as a direct result of those products’ larger place in the conversation. As proprietary reverse mortgage products become more […]

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Longbridge Adds 3 Hires to Wholesale Division

Mahwah, N.J.-based reverse mortgage lender Longbridge Financial announced the hiring of three new employees – two account executives and one partner support specialist – who will be working for the company’s wholesale lending division. Cesar Flores, a 10-year veteran of the reverse mortgage industry, joins Longbridge as a wholesale account executive. His experience has included […]

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How a New California Privacy Law Could Impact Reverse Mortgages

On January 1, 2020, the California Consumer Privacy Act (CCPA) became effective and has been described as one of the most comprehensive consumer privacy initiatives ever to be codified into law. Because of its wide implications for businesses throughout the state of California, a panel of legal representatives explained how it could impact the reverse […]

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Retail Leads November Drop in Reverse Mortgage Endorsements

Home Equity Conversion Mortgage (HECM) endorsements fell by 13.5% in the month of November, for a total of 2,841 loans according to the latest HECM Originators report from Reverse Market Insight (RMI). The fall was led by the retail endorsement segment of business, which experienced a decrease of 18.5% that month, while wholesale levels recorded […]

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FAR Adds Hanson as Wholesale AE

Finance of America Reverse (FAR) announced the appointment of Jessica Hanson as an account executive in its wholesale lending department. Bringing with her nearly 10 years of experience she will use to bolster the company’s wholesale lending efforts. She will report to Jonathan Scarpati, FAR’s VP of wholesale lending in her new role. Prior to […]

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RMD Report: Sources of 2020 Optimism for the Reverse Mortgage Industry

In spite of declined reverse mortgage endorsements observed in calendar year 2019, the reverse mortgage industry continues to feel general optimism for the trajectory of the business in the early days of 2020. Sources of general optimism include the increasing prevalence of proprietary reverse mortgage products, the signing of new financial legislation and a generally […]

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