Archive for December, 2007
Reverse Mortgages and Subprimes - Are there Parallels?
Reverse Mortgages and Subprimes - Are there Parallels?,
As the reverse mortgage industry expands and constantly introduces new (and confusing) products, some people are beginning to wonder whether reverse mortgages are destined to become the next subprime mess.
The same type of financial engineering and securitization that repackaged regular mortgages (once held by local banks) into exotic [...]
U.S. Senate Committee to hear Financial Freedom Senior Funding Case
A U.S. Senate Committee looking into abuses of reverse mortgages will hear testimony today contending that Irvine-based Financial Freedom Senior Funding Corp. took advantage of elderly clients.
Ronald Marron, a San Diego attorney who represents three elderly women who bought Financial Freedom’s reverse mortgages and were also sold deferred annuities from other companies, called the financial [...]
