Jeff Taylor, the former longtime leader of Wells Fargo’s reverse mortgage division, had a stock answer when applicants declined a reverse because they felt the rates and fees were simply too high. Taylor had done the research for his own mother and decided the reverse was the best strategy to keep his mother comfortable in [...]

We have been parents for 31 years and dragged children through three primary residences. All of the homes had terrific amenities – views, schools, nearby playgrounds and neighborhood pals. The four kids are grown and gone now, but if you could find them (I am rarely able to do so) and ask where their fondest [...]

Wells Fargo announced in March it would no longer accept reverse mortgages through its broker network and yesterday it got out of the industry altogether. Wells Fargo, the nation’s largest reverse mortgage lender, was the kingpin in the industry in more ways than one. It had a 26.2 percent market share, according to the latest [...]

Mark Greene, chief executive officer at FICO, told attendees at a loan processing conference in Orlando that it would be 50 months before the foreclosure problem in this country “goes away, and that’s assuming there are no more foreclosures.” Minneapolis-based FICO provides lender analytics and measures consumer credit risk. Among its products is the FICO [...]