Reverse mortgages

Longbridge Financial's Christopher Mayer discusses the mortgage industry's opportunities in today's market and its shortcomings when serving older Americans.

The bank said it will appeal the judge's ruling, which it suggested would have a chilling effect on lenders participating in such government programs.

The company is a leading player in the primary and secondary markets for government-backed reverse mortgages and also has been developing proprietary products.

A year that saw businesses express growing interest in the segment ended with a more subdued outlook due to interest rate trends, according to a new report.

The company plans to increase investments in its proprietary products as well as marketing initiatives with expectations of originations growth next year.

Longbridge asserts its rival is unfairly funneling business via a number of websites containing fake reviews allegedly run by Mutual of Omaha itself.

James B. Nutter & Co., after its legal victory over the Justice Department in July, agreed to a $2.4 million False Claims Act settlement over poorly underwritten reverse mortgages.

The CFPB changed how reverse mortgage lenders can appeal to older Americans. Their value is now pitched mainly through direct education, rather than through Tom Selleck.

Guild Mortgage is now referring to its reverse loan offerings, including FHA and private-label jumbo, as Flexible Payment Mortgages.

A summary judgment from a Missouri district court denied the government from seeking federal damages for violations of the False Claims Act following alleged underwriting misconduct by the lender.