Live Well Financial shutters origination operations

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Live Well Financial said in a letter to Virginia employment officials that it was ceasing operations and laying off its 103 employees who worked at the company’s corporate offices in the.

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To retain its foothold in the space, RMF is investing in its third-party origination business. resources and grow both the overall market as well as our company’s market share.” Live Well Financial.

As more reverse mortgage companies continue to expand their operations into the forward space in response. just another mortgage product,” said Bruce Barnes, EVP of Live Well Financial in an.

Then, in 2016, bank 34 expanded its mortgage origination. the unstable financial environment surrounding mortgage lending. “On May 1, 2019, Bank 34, the wholly-owned subsidiary of Bancorp 34, Inc.,

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Live Well Financial shutters origination operations The news of Live Well Financial’s sudden exit from reverse mortgage lending last Friday left many somewhat stunned. But in fact, the company is ceasing all origination activities for both forward and HECM loans.

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Once one of the top 10 reverse mortgage lenders by volume, the closure of Live Well Financial was as swift as it was unexpected. While the dust has yet to completely settle on this story, numerous legal proceedings extending out of the closure and ongoing investigations by financial regulators and federal law enforcement have further [.]

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