Lenders Prepare for Sandy Aftermath, Ocwen Acquires Genworth Reverse

NewImage.jpg Reverse Fortunes Weekly Podcast Episode #231

In the wake of a devastating storm that left much of the East Coast picking up the pieces, Reverse Fortunes’ latest podcast takes a look at the impact of Hurricane Sandy on loan pipelines and how reverse mortgage lenders are preparing for the effects.

Reverse Fortunes’ Shannon Hicks also talks about the recent deal announced by Ocwen to acquire Genworth Financial Home Equity Access for $22 million. The reverse mortgage company will undergo a name change in the process. Additionally, Hicks looks at some recent statements made by the appraisal management industry about what to expect in appraisal pricing going forward.

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Talking Points:

  • Hurricane Sandy to delay many reverse mortgage loans
  • Last to Go: Genworth to sell reverse mortgage division
  • Appraisals: Expect higher costs & longer turn around times
  • Hand in cookie jar: States using mortgage settlement funds as they wish
  • CFPB exams of reverse lenders. What to expect

Listen now. “Reverse Fortunes is the ultimate resource for reverse mortgage professionals providing the technology, training and marketing to grow your business. We are your one-stop resource for those committed to taking their business to the next level.” Editor’s Note: These posts are sponsored by Reverse Fortunes.

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