Melissa DATA releases online foreclosure database

National Mortgage Professional

Aug 07, 2007

Senior Financial to acquire Liberty Reverse MortgageMortgagePress.comReverse mortgage companies Senior Financial Inc. has agreed to purchase Liberty Reverse Mortgage Inc. Under the terms of the agreement, Senior Financial will pay $50 million for Liberty Reverse at closing, as well as possible performance-based compensation. Pending government approval, the transaction is expected to be finalized during the fourth quarter of 2007. Senior Financial Inc. is a subsidiary of Genworth Financial Inc., a financial security company based in Richmond, Va. For more information, call (888) 436-9678 or visit www.genworth.com. Liberty Reverse Mortgage Inc. is a reverse mortgage lender based in Rancho Cordova, Calif. For more information, call (800) 218-1415 or visit www.libertyreverse.com.

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Aug 07, 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...