Items Tagged with 'reverse mortgage industruy'

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  • Wells Fargo to Exit Reverse Mortgage Industry

    Wells Fargo the undisputed industry leader for reverse mortgage production announced plans today to exit the reverse mortgage market. The decision was announced today in a press release.  The reasons cited for the exit was based on today’s unpredictable home values along with the restrictions associated with reverse mortgages that make it difficult to determine seniors’ abilities to meet the obligations of  homeownership and their reverse mortgage, e.g., payment of property taxes and homeowners’ insurance. The move comes several months after Wells Fargo announced plans that they would stop offering channels through their reverse mortgage channel.  Their retail channel has
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