One Reverse Mortgage announces departure from reverse mortgage lending The news of One Reverse Mortgage’s exit from reverse mortgage lending was unexpected news for industry participants. The directive to cease reverse mortgage operations came from the lender’s parent company Quicken Loans. One Reverse Mortgage ranked in the top 10
Australia’s cautionary tale for America [Download transcript] It’s said that nature abhors a vacuum. In the case of Australia, the question is who will fill it? Like an episode of Lost, senior homeowners in Australia now find themselves marooned being unable to tap their equity with no monthly payments.
Australia: largest reverse mortgage lenders exit What happens when reverse mortgage lenders suddenly disappear? Australia is instructive on what happens when lenders offering a needed loan to help seniors age in place suddenly disappear. Despite the strong criticism and negative media stories covering the loan, it would seem the
[vimeo id=”28432975″ width=”601″ height=”338″] Remaining lenders are seeing something they’ve always wanted… an increase in referral phone calls from non-reverse banks and financial professionals. Many of these referrers had sent their clients to Wells Fargo & Bank of America based on their well known brand and geographic convenience. Today reverse