David Hall, a veteran of Michigan's mortgage industry, has announced the launch of Hall Financial. Headquartered in Birmingham, Mich., the new company will provide expertise counsel and guidance through Federal Housing Administration (FHA) loans, reverse mortgages, loan modifications, zero-down rural development loans, conventional loans and government incentives. Read more

Sarah Hulbert has been named senior vice president, reverse mortgages, for Seattle Mortgage Company. Seattle Mortgage Company is a subsidiary of Seattle Bank. Hulbert is a nationally-recognized leader in the reverse mortgage industry, with nearly 20 years of experience in every facet of the business. She was previously with Seattle Mortgage Company from 2000-2006, serving as senior vice president and national director as the company’s reverse mortgage operation grew to become the third largest originator in the nation.Read more

In the beginning, there were 50 lenders chosen by lottery in a pilot program. The U.S. Department of Housing & Urban Development (HUD) authorized each lender to make just 50 Home Equity Conversion Mortgages (HECMs), a novel home equity loan without monthly repayment obligations.Read more

With overall wholesale reverse mortgage volumes down by six percent as recently reported by Reverse Market Insight, the wholesale division at Generation Mortgage Company experienced an increase as the company closed 182 percent more Home Equity Conversion Mortgages (HECM) in 2009 than in 2008, making the company the fifth largest reverse mortgage wholesale lender in the country.Read more

► On Feb. 3rd the Mortgage News Daily posted a blog by "The Voice of Housing: Reverse Mortgages: Friend or Foe? Definitely Friend" … to get those of you who dismiss the reverse mortgage program as too risky for the FHA and taking advantage of the elderly, to get a grip and look at this wonderful program as a means to provide our growing (aging) population a better quality of life while maintaining our independence and self respect.Read more

Home Equity Conversion Mortgages (HECMs) and private reverse mortgages gave birth to a new asset class, but the sharp financial minds on Wall Street missed this seminal event for almost a decade. Then in 1998, Lehman Brothers tapped a young investment banker to start its reverse mortgage business, the first on Wall Street.Read more

Advanced Funding Solutions Inc., a provider of reverse mortgages, is proud to announce the addition of Kenneth Connolly as a reverse mortgage advisor and Rick Cashman as director of business development. Kenneth Connolly has a wealth of experience in reverse mortgages and will be assisting clients for this product as a loan officer.Read more

LTC Financial Partners LLC (LTCFP) has announced the formation of a new affiliate, Reverse Mortgage Direct LLC (RMD), which will provide reverse mortgages to Americans 62 and up. "We're delighted to add this new service to our corporate offerings," says Cameron Truesdell, CEO of LTCFP, one of America's most experienced long-term care insurance agencies. "Now we can help more people breathe easy, knowing they've got the means to pay for care when needed."Read more

Recent headlines pointing to the detriments of reverse mortgages aren’t getting the story straight. One of the nation’s leading reverse mortgage lenders, Generation Mortgage Company, wants to separate fact from fiction. “Because so many Americans over the age of 62 are facing significant financial stress due to dropping retirement and savings account balances, as well as higher healthcare costs, many groups are targeting seniors under the guise of helping them,” said Scott Peters, CEO and president of Generation Mortgage.Read more

As part of its mission to help seniors borrow with confidence, the National Reverse Mortgage Lenders Association (NRMLA) presented a free Webinar for members on Jan. 12 in which a panel of experts presented specific examples of unacceptable advertising. The panel included Volky Garcia, deputy director of the FHA’s Quality Assurance Division, who kicked off the discussion with examples of phrases that can lead to investigation and potential punitive actions.Read more