Reverse mortgages

The former American Fidelity Financial Services LO helped others scam homeowners out of their loan proceeds for shoddy or nonexistent home repairs.

One loan sale is planned for Wednesday, while the other is tentatively happening in September. All-in-all, the two offerings are worth close to $1 billion.

Prior to the earnings release, Finance of America announced it was buying out Blackstone's equity stake in the mortgage lender for $80 million.

Proprietary reverse loans are typically available to a larger range of borrowers and come with higher loan limits than the Home Equity Conversion Mortgage.

Much of the increase came from the wholesale channel, where margins were thinner, leaving them flat on for the origination unit on a sequential quarter basis.

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.