The news of live well financial s sudden exit from reverse mortgage lending last friday left many somewhat stunned.
Live well reverse mortgage reviews.
For live well financial has grown into a nationwide reverse mortgage lender from its humble beginnings more than a dozen years ago all along racking up positive reviews and ratings.
It s not just the hecm market that led to live well s exit it s been quite some time since a top ten hecm lender has left the industry.
Live well is headquartered in metropolitan richmond va and originates and services hecm reverse and traditional mortgage loans.
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Open mortgage announced in late may that it would be hiring roughly 50 former live.
In the weeks following live well s closing another reverse mortgage lender took action to provide somewhat of a silver lining for the company.
According to data from april the last full month that live well was in operation the company had placed number 7 on reverse market insight s list of the top 100 reverse mortgage lenders for the month though the company only originated just over half the amount of loans it did compared with the same point in 2018 350 versus 605.
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4 9 5 excellent live well financial is a good reverse mortgage lending option in all fifty states and as they also offer other types of loans they can also comprehensively advise borrowers on the best option for their needs.
A reverse mortgage is a type of loan that is used by homeowners at least 62 years old who have considerable equity in their homes.
Live well has managed to grow a healthy business in the reverse mortgage playing field while serving customers with satisfactory results.
Live well financial inc.
By borrowing against their equity seniors get access to cash to.
Government on thursday charged the founder of reverse mortgage provider live well financial inc with engineering a 140 million fraud by inflating the value of its bonds in what he.
But in fact the company is ceasing all origina.
