“Ding dong, the witch is dead . . .” oh wait a minute, we need the jumbo reverse mortgage! It WAS a good program. It filled a niche for homeowners who are very equity rich and cash poor. But for now, it is true, the last jumbo reverse mortgage, called the Equity Plus Advantage (EPA) [...]
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Vulture or Phoenix?
Discouraged about the dearth of subprime products or the availability of jumbos? Wilbur Ross may be your next wholesale lender.
While the Federal Reserve was conducting secret meetings with 30 top banks two weeks into September, Wilbur Ross was preparing to bid for the mortgage servicing assets of Michael Strauss’s bankrupt American Home Mortgage Investment [...]
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