An ongoing lawsuit between two major reverse mortgage lenders, Mutual of Omaha Mortgage and Longbridge Financial, over marketing practices could come to an end if both parties can reach a settlement agreement prior to going to trial.
While there has been something of a “yo-yo” of gains and losses in the reverse mortgage industry’s performance metrics for the past several months, some mixed signals on the horizon — such as higher interest rates that could depress origination volumes along with the potential implementation of HMBS 2.0 — leave 2024 winding down in an active way for the business.