Open Mortgage on Friday shut down its distributed retail channel and laid off more than two dozen employees. The divisional closure comes six months after the Texas-based lender changed ownership and nine months after it exited the reverse mortgage business. The company will focus on the third-party

Have lower mortgage rates positively impacted the housing demand data yet? Some people have been very disappointed with the data so far, so I wanted to take an in-depth look with this week’s tracker to see what lower rates have done to these key data lines. Let’s look at two of those data lines toda

The reverse mortgage industry’s key performance indicators were split in July, according to data from industry analysts.Home Equity Conversion Mortgage (HECM) endorsements increased by 8% from June to July, with the total of 2,274 falling reasonably in line with Federal Housing Administration (FHA)

“Gray divorce” — referring to the decision of a married couple over the age of 50 to separate — is a growing phenomenon. According to a 2022 study published in the Journals of Gerontology, the rate of divorce among those ages 50 and older has doubled since 1990 and has tripled for those 65 or older.