Timing critical to reverse-mortgage lender's exit

Seattle Mortgage settles class-action lawsuit as BofA also leaves market

By Inman News Feed
Add Comment Add Comment | Comments: 1 | Posted Mar. 9, 2011

Share this Story:

Seattle Mortgage entered the reverse mortgage industry in 1995. It had a loan portfolio of 40,000 reverse mortgages, totaling more than $4 billion in outstanding balances, when it sold Reverse Mortgage of America to BofA. Approximately 400 Seattle Mortgage associates joined BofA, including a retail sales force of more than 200 sales associates in 25 states and Washington, D.C.

Tom Kelly's book "Cashing In on a Second Home in Central America: How to Buy, Rent and Profit in the World's Bargain Zone" was written with Mitch Creekmore,  senior vice president of Stewart International, and Jeff Hornberger, the National Association of Realtors' international market development manager. The book is available in retail stores, on Amazon.com and on tomkelly.com.

 

                                         
Contact Tom Kelly:
E-mail E-mailLetter to the Editor Letter to the Editor

Copyright 2011 Tom Kelly

Prev| Page: 1 2
Add to favoritesAdd to Favorites PrintPrint Send to friendSend to Friend

COMMENTS

Comments 1 - 1 of 1
Report Violation

1. Anonymous said... on Jul 24, 2012 at 09:38AM

“I try to find a bank who makes reverse mortgages in Philadelphia, and unable to find it. Do you know, who are they?
A.H
”

ADD COMMENT

Rate:
(HTML and URLs prohibited)
User Guidelines