Reverse mortgage lender Live Well Financial laying off 103 workers

Live Well Financial has halted fundings for new reverse mortgage loans and some loans in process, RMD has learned from wholesale account executives within the company. Some sources indicate the.

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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.

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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.

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In the face of what it claims is a liquidity crunch, a once fast-growing mortgage company based in the Southside is abruptly winding down its operations and laying off more than 100 employees. Live Well Financial, founded in 2005 by local entrepreneur and former Capital One executive Michael Hild.

Open Mortgage, an Austin, Texas-based lender that operates forward and reverse mortgage operations, announced Thursday that is hiring approximately 50 of Live Well Financial’s former employees,