Velocity Commercial Capital expands to San Francisco

National Mortgage Professional

Aug 02, 2007

Sage Credit Company launches reverse mortgage departmentMortgagePress.comNational reverse mortgage companies Sage Credit Company Inc. has announced the launch of its reverse mortgage department. "The establishment of a reverse mortgage department broadens our scope of services and provides many benefits for our mortgage network," said Sage President Quentin Caruana. "Reverse mortgages are a growing segment of the market and will continue to expand to meet consumer needs. A reverse mortgage channel enhances our business offering and makes us more competitive in the marketplace." Sage Credit Company is a nationwide mortgage banking company based in Irvine, Calif. For more information, call (866) 324-3241 or visit www.sagecreditcompany.com.

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Aug 02, 2007

Reverse

Reverse Mortgage Funding 'Pauses' Originations

Lender tells partners it won't fund loans that haven't already closed.

Reverse Mortgage Funding LLC (RMF), a Bloomfield, N.J.-based reverse mortgage lender, halted all of its origination activities Monday. In a letter addressed to its “partners” and obtained by National Mortgage Professional, RMF also states that “all loans that have not clos...

Analysis and Data

Mortgage Application Payments Rose 3.7% In October

Mortgage payments are up by $629 in the first 10 months of the year, a 45.5% increase.

The cost of mortgages continued to rise in October, thanks to higher mortgage rates and home prices still high despite declines. The Mortgage Bankers Association (MBA) on Tuesday released its monthly Purchase Applications Payment Index (PAPI), which measures how new monthl...