The bank has sold off all the securities it acquired as collateral on loans to Live Well Financial, a reverse lender that suddenly ceased operations in May
Reverse mortgages are all the rage the Great White North; could they become the loan product of choice for originators and homeowners in the United States, too?
After testing the waters last year, this reverse company is ready to expand into the forward mortgage space
Steve Scheiern was previously national retail sales manager for the company
Jeff Ausman will drive expansion in the forward business channel
The agency said the program ‘is losing money and can no longer remain viable in its present form’
The CFPB claims that the tactic, which is being touted by several reverse lenders, could cost more in the long run
The company’s move aligns with the growing interest in HECM origination among its loan officers