Reverse mortgage lender Live Well Financial laying off 103 workers

Lending Reverse Live Well Financial’s abrupt closing leads to host of problems Creditor pledges to pursue "all available sources of collection" while former employees sue for lost wages

Live Well Financial, Inc. halts mortgage lending. Ocwen Financial Corp. – completed purchase of reverse mortgage lender liberty home equity solutions. wells fargo – laid off 87 mortgage workers in Raleigh Wells Fargo – cut 91 jobs in Fort Mill on soft refinance demand.

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.

A week after the closure of mortgage lender Live Well Financial, a former employee filed a class-action lawsuit alleging lost wages and wrongful termination under the terms of the Worker Adjustment and Retraining Notification (WARN) Act, which requires 60 days of advance notice before dismissing employees.

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Troubled reverse lender axes 103 employees – including CEO – A top reverse mortgage lender that unexpectedly halted operations Friday will also lay off more than 100 employees, including its founder and CEO. Live Well Financial, as recently as February.

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A top 10 HECM lender, Live Well is a long-time player in the reverse mortgage space. Most recently, the company came in at No. 7 with 305 loans year to date and 3.1% market share.

Reverse mortgage lender Live Well Financial laying off 103 workers Live Well Financial, a reverse and traditional mortgage lender that abruptly stopped originating on May 3, will lay off 103 employees, according to a Virginia Employment Commission filing.. It also hired lenders and staff with.

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.

Local mortgage lender Live Well Financial shutting down. – 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.

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Live Well Financial, a reverse and traditional mortgage lender that abruptly stopped originating on May 3, will lay off 103 employees, according to a Virginia Employment Commission filing. The national company, which is based in the Richmond, Va., area, has continuity plans for loans in progress.