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Virginia-based Live Well Financial announced Friday that it was ceasing originations "due to unexpected circumstances." The forward and reverse mortgage lender and servicer also filed a notice with the Virginia Employment Commission informing the state of its closing and subsequent layoff of 103 employees in Richmond, Virginia.
Live Well Financial, until recently one of the nation’s top reverse lenders, unexpectedly shuttered in May, ceasing operations and laying off more than 100 employees, including founder and CEO.
Live Well Financial is a good reverse mortgage lending option in all fifty states, and as they also offer other types of loans, they can also comprehensively advise borrowers on the best option for their needs.
Live Well Financial laying off 103 employees; blames closure on market, regulatory issues Jessica Guerin is an editor at HousingWire covering reverse mortgages and the housing wealth space.
Live Well Financial, Inc. ("LWF") was a privately owned mortgage originator, servicer and investor, licensed in the United States to operate in 46 states. The company offers government-insured Home Equity Conversion Mortgage loans (HECM, commonly known as reverse mortgages), FHA single family mortgage loans, and Fannie Mae conforming loans.
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Live Well Financial is a mortgage lender that offers a variety of mortgage services, including reverse mortgages. The company was founded in 2005 and is licensed in all 50 states and Washington D.C. It has a team of counselors trained to comprehensively advise borrowers on the best options for their needs.
The CEO of a shuttered reverse lender is asking a federal court to dismiss a lawsuit. Michael C. Hild, founder and CEO of Live Well Financial, is being sued by. Live Well laid off more than 100 employees – including Hild.. investigation · Troubled reverse lender axes 103 employees – including CEO.
· The Virginia-based reverse mortgage lender, Live Well Financial Inc., ceased business operations as of May 3 and filed for a mass layoff of 103 employees.
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The Virginia-based reverse mortgage lender, Live Well Financial Inc., ceased business operations as of May 3 and filed for a mass layoff of 103 employees.
The company has also filed paperwork with employment officials in the state of Virginia, detailing that more than 100 workers have been laid off as of May 3. The notice now on Live Well’s front website page reads, "Due to unexpected circumstances, as of May 3, 2019, Live Well Financial, Inc. will cease to originate mortgage loans."