Filing for protection from creditors comes just a day after company laid off 400 employees.
Reverse
Lender cut 80% of staff a week after pausing mortgage originations.
Lender tells partners it won't fund loans that haven't already closed.
RMI report shows HECM loans in September at lowest point in 2.5 years.
Stewart also signed an agreement to acquire FNC Title of California, pending regulatory approval
Decline comes after previous month’s 10-year high
Christopher Hartley will focus on increasing reverse mortgage originations
Reverse mortgages can provide an essential risk management tool for millions of retirees.
Finance of America Reverse announced the launch of its updated brand assets with what the company says, “reflects its modern identity and impactful relationships with customers.”
Reverse Mortgage Insights' latest report showed a 16.3% (5,029 loans) jump in HECM endorsements in Oct. 2021.