General World News

Inside the collapse of a top reverse mortgage lender

After returning from the Thanksgiving holiday, the roughly 575 staffers at Reverse Mortgage Funding assembled nervously on two separate Microsoft Teams meetings. On the first virtual meeting, 472 employees received the bad news that many expected: they were being terminated. The hundred or so workers on the other Teams meeting were given marching orders: keep the company’s operations functioning during bankruptcy proceedings.

HW Media reporters Bill Conroy and Chris Clow spoke to over a dozen company employees, executives at rival reverse lenders, independent analysts in the space, and pored over hundreds of pages of bankruptcy proceedings details ⇒

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