Archive for September, 2008
Reverse Mortgage Companies Accused of Shady Practices
The Boston Globe, reported that 4 mortgage brokers were recently sent cease and desist orders in violation of state law from the Massachusetts Division of Banks. The brokers/lenders were accused of using shady marketing tactics, which many seniors are prime targets. People who mistreat children and seniors will have a special place in the afterlife, [...]
Top National Reverse Mortgage Lenders Through Q3 2008
Below you will find a list of the top mortgage lenders in the US, through Q3 of 2008. I have been predicting for some time that as the economy searches for footing, reverse mortgage closings would also decline. However relative to standard mortgages the drop off has not been as drastic.
Chart Courtesy of HUD.
Rank
Lender
Endorsed Loans
1
WELLS [...]