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HECM

Longbridge wins partial preliminary injunction against Mutual of Omaha

HECM, HWmember, Lawsuit, Legal, Longbridge Financial, Marketing, Mutual of Omaha Mortgage, Reverse /

The federal judge overseeing the case brought by reverse mortgage lender Longbridge Financial against market leader Mutual of Omaha Mortgage over allegedly deceptive advertising practices has ruled that some of Longbridge’s claims warrant limited injunctive relief, finding that “the law and facts clearly favor some of Longbridge’s claims.” The order was handed down Tuesday by […]

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Texas Capital Bank appeals case against Ginnie Mae over reverse mortgage collateral

FHA, Ginnie Mae, HECM, HWmember, Lawsuit, Legal, Reverse, Texas Capital Bank /

After lawsuit challenging the government’s authority to extinguish stakes in securitized Federal Housing Administration (FHA)-backed Home Equity Conversion Mortgages (HECMs) was recently decided in favor of Ginnie Mae, the plaintiff in the case has made good on its promise to appeal the decision. Texas Capital Bank (TCB) — which initially filed the lawsuit against Ginnie

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Loan officers detail the challenges of explaining reverse mortgages

California, HECM, HWmember, loanDepot, Longbridge Financial, NRMLA, Reverse, Reverse Loans Now /

Reverse mortgage professionals encounter a variety of challenges when introducing product specifications to a prospective customer for the first time. These elements may include an explanation of how the loan proceeds work, clarifying the realities of negative amortization, or something as basic as communicating to a family member why their loved one is thinking of

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