Items Tagged with 'Reverse mortgage'

ARTICLES

  • Live Well Financial CEO Michael Hild accused of orchestrating $140 million fraud scheme that led to lender's collapse

    Company's former CFO and head trader are helping DOJ
    After Live Well Financial unexpectedly imploded in May, many questioned how the seemingly successful forward and reverse mortgage lender could have fallen so far, so fast. Well, now the other shoe has dropped. And it has dropped right on the head of Live Well CEO Michael Hild. Hild was arrested this week by federal authorities and charged with orchestrating a $140 million bond fraud scheme that led to the company’s collapse.
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  • D.C. housing agency launches program to help delinquent reverse mortgage borrowers

    Provides financial assistance to seniors facing foreclosure
    A D.C.-based housing agency recently launched a program to help reverse mortgage borrowers facing foreclosure because of their failure to pay property taxes and homeowners insurance. While only available to help borrowers in the district, the program could be replicated in other parts of the country with a high percentage of HECM loans in default.
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  • Will sale-leasebacks change how homeowners tap into their equity?

    Figure Technologies says it has a better solution than reverse mortgages and HELOCs
    In just its second year of operating, Figure Technologies has already raised more than $120 million in capital. While at the LendIt Fintech conference in San Francisco this week, I sat down with TJ Milani, Figure's VP of finance and strategy, and Patrick Silberstein, senior director of capital markets, to discuss the company's strategy behind its sale-leaseback product and its plans to disrupt the home equity market.
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  • Former SoFi CEO Mike Cagney’s blockchain lending startup Figure raises $65 million

    Plans to use new funding to continue expansion
    Figure Technologies, the blockchain lending startup co-founded by former SoFi CEO Mike Cagney, grew throughout its first year of business last year. And now, the company will have some new funding to continue its expansion as Figure announced recently that it raised $65 million in its Series B equity funding round.
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  • Here's a compelling reason to take a reverse mortgage ahead of retirement

    The loan can help eliminate a massive burden for senior homeowners
    A reverse mortgage isn't a good fit for everyone, but for older homeowners with sizable equity and no intention of moving, the loan can make sense. And here's one compelling reason why: When a homeowner over the age of 62 refinances their traditional mortgage into a reverse mortgage, they can make their mortgage payments optional. For those who are on the brink of retirement and staring down the barrel of a limited, fixed income, this could make all the difference.
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  • Ellie Mae adds HELOC calculator to Encompass

    Announces Encompass 19.1 update
    Mortgage technology provider Ellie Mae announced it launched a new release of its Encompass Digital Lending Platform. The new updates include expanded HELOC origination support, Americans with Disability Act capabilities within Consumer Connect, and enhancements for correspondent and wholesale lending.
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  • HUD lists 2018 housing accomplishments

    Names reverse mortgage adjustments, disaster relief, community reinvestment among highlights
    Last week, the Department of Housing and Urban Development released a list of its accomplishments in 2018 under the leadership of Secretary Ben Carson. In the last year, the agency said its programs have spurred reinvestment in communities, advanced economic opportunity, reduced homelessness, funded disaster recovery, and protected taxpayers.
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  • Canada's reverse mortgage market sees explosive growth

    Meanwhile, its U.S. counterpart sinks. What gives?
    Reverse mortgages in Canada are all the rage, apparently, with the market closing out December up 31% year over year and a new bank jumping in to grab a piece of the action. Meanwhile, the reverse mortgage market in the U.S. is down 27% from last year, settling into a 14-year slump. So why do the two markets – which face the same convincing demographic and economic trends – vary so drastically in their rate of success?
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