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Even as originations stay slow, Longbridge parent remains committed to reverse mortgages

While Longbridge saw a performance dip in Q4 2023, Ellington Financial leadership says their commitment to the business remains strong. ....

Mark Tecotzky , Laurence Penn , Ellington Financial , Longbridge Financial , Home Equity Conversion Mortgages ,

New Jersey bill seeks to require face-to-face counseling for reverse mortgages

A new bill introduced in the New Jersey Senate would require in-person counseling for the state's reverse mortgage business. ....

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Home Equity, Pre-Qual, Correspondent, Verification Tools; Training and Webinars; STRATMOR on LO Habits

Attention in the hallways in the early going at the IMB Conference in New Orleans is varied. LinkedIn traffic seems to have picked up for IMB companies like Draper and Kramer and Atlantic Bay, but that is hardly a scientific measure of companies being bought, buying, or exiting the business. (As always, direct questions to company representatives.) Credit costs and trigger leads are a big item; this Wednesday’s L1 Mortgage Matters session at 2PM ET features John Fleming, of John Fleming Law and the Texas MBA, discussing issues including a fine update on the trigger lead situation. Being pragmatic about handling branches that are losing money, even if the crew there has been with you for years and years, is a hot topic among owners. The last 18 months has not been the time to waffle or ignore information. Today’s podcast can be found here and this week’s is brought to you LoanCare. LoanCare has successfully navigated clients and homeowners through market change for ....

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Rhode Island historian uses a reverse mortgage as an estate planning tool

A prominent historian in Rhode Island is using a private reverse mortgage to solve financial issues caused by existing forward mortgages. ....

United States , Rhode Island , Roger Williams University , Paul Fiore , Patrick Conley , Kenneth Dooley , Housing Administration , Heritage Harbor Foundation , America Companies , America Reverse , Heritage Harbor , Finance America , Federal Housing Administration , Home Equity Conversion Mortgages ,

QC, Correspondent Tools; Webinars and Training; STRATMOR Interview on Referrals

“Affordable” means many things. There are residential lending industry jokes about making a loan on anything with axles or a license plate. (Like “don’t.”) Being “permanently affixed” is usually in the underwriting guidelines, which makes this story about someone having their driveway stolen very interesting. (In this clip a builder explains how the scam works.) There are plenty of trends in the builder world, one of which is “build for rent.” Instead of just having a house here or there, BFR homes are clustered together and form a community, much like an apartment community, and with many of the same amenities, essentially an apartment building as a defined community. This new “asset class” even has its own conference. The category is usually not a good thing for IMBs or small banks or credit unions. (Today’s podcast can be found here, and this week’s is sponsored by the STRATMOR Group, the data ....

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