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'Lenders' Category Archives

Reverse Mortgage Commercials: The Impact of High-Pressure Sales

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I usually write articles based on the current situation in our industry or the feedback I'm getting from customers.  It seems that now more than ever, I'm getting online blog requests and calls from borrowers telling me they are feeling a lot of sales pressure from loan originators on their reverse mortgage requests. Some of these folks are quite concerned...
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NOVAD Reverse Mortgage Problems – Please Help!

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ATTENTION: This website is NOT affiliated with Novad. To contact Novad servicing, call HUD’s FHA Resource Center at  (877) 622-8525 My mother passed in Oct. of 2018 in a nursing home. Prior to her death as POA I surrendered the home by registered letter to Novad, a HUD management company, requesting a Deed in Lieu of Foreclosure. As of March 2020 they...
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MetLife Reverse Mortgage Review (2026 Update)

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Today, most reverse mortgages are closed by non-bank mortgage lenders across the U.S. But going back a few years, most reverse mortgage volume was conducted by big, national banks.  Among those lenders was MetLife Bank, which used to be operated by the large national insurance provider MetLife. In fact, at one time, MetLife was the largest Home Equity Conversion Mortgage...
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Reverse Mortgage Solutions Bankruptcy & Effects on Seniors

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What if my reverse mortgage with Reverse Mortgage Solutions (RMS) files chapter 11 bankruptcy? - Hilda Hello Hilda, I believe you are referring to the letter that went out to all customers of Reverse Mortgage Solutions, Inc. (RMS) and their affiliates. We cannot give you legal advice so this is a quick reminder of how the reverse mortgage works...
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Quicken Reverse Mortgage Review (2023 Update)

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The national reverse mortgage landscape comprises lenders large and small. Some are regional, some are national; some are banks, others are non-bank lenders.  Over the course of the last 10 years, the lender landscape has shifted from one that had several banks, to today where most of the top lenders by volume are non-bank mortgage lenders. One of those companies...
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How to Avoid Problems with a Reverse Mortgage Lender

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What's the most effective legal way to avoid any expected problems with a new reverse mortgage lender? -Alfred Hello Alfred, This is a very open question.  There are several ways to handle issues with lenders, but it depends on the issue you are having. And when you say, “expected problems with a new reverse mortgage lender”,...
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Champion Reverse Mortgage Foreclosure Problems – Help!

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ATTENTION: This website is NOT affiliated with Champion Mortgage. To contact Champion reverse mortgage servicing department call (855) 683-3095 Good Afternoon, I am hoping you can help me with something. My mother in her haste did a reverse mortgage. We as her children were not aware of it. Here she is 10 years later and now the chickens...
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Reverse Mortgage Solutions (RMS) Foreclosure Problems

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My brother passed away Sept 22,2016. Being his brother he made sole heir and ex. of the estate. Did not find out until Oct. 2016 that he had a reverse mortgage I contacted them about my brother death at which time they wanted to know what I wanted to do, I didn't know at the time. As we continue to...
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Getting a Reverse Mortgage Online -vs- in Person

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Making the decision to apply for a reverse mortgage is a large decision in and of itself, but once you do decide you’re ready, you will have a choice to make whether you want to work with a loan officer over the phone or in person. You can complete a reverse mortgage in person with a local loan officer or...
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