In addition to making a recent major acquisition and by adding several former executives from the recently-shuttered Live Well Financial, Austin, Texas. in the reverse mortgage market and will help.
As The Journal notes, "Housing experts say small mortgages have become rarer because lenders have trouble making profits on smaller loans. Lenders typically have a fixed cost to extend a mortgage.
The company issued a report on September 11 estimating there was the potential of losses to mortgaged properties in Texas and Louisiana. 300,000 borrowers missing one mortgage payment in the next.
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