Reverse mortgage lender Live Well Financial laying off 103 workers

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A recently shuttered local lender claims it was within its rights when it abruptly laid off its entire workforce with no advance notice. Live Well Financial, the once fast-growing, Chesterfield-based reverse mortgage company that in early May ceased operations and cut its staff of more than 100, argues in a lawsuit in federal court that it does not owe back wages to those workers, despite not.

Elon Musk, the chief executive of Tesla Motors, was asked during a. current level – and laid out his belief that the company would soon launch “Tesla. But well before Mr Musk sets his sights on yet another business to upend, rating from Consumer Reports in the US: 103 points out of a possible 100.

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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.

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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.

When mortgage lender PHH Corporation was accused of steering borrowers to mortgage insurers in exchange for kickbacks, Cordray fined the company 9 million. That was nearly $103 million. "what.

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.

Spread the work out over a few years “and do it at a comfortable pace,” suggests René Bruer, a fee-only financial. is a reverse mortgage. This is a deal in which you hand over the equity in your.

A 2015 study by the Consumer financial protection bureau found that consumers who saw TV ads for reverse mortgages had a number of misconceptions about what the loans are and how they work. of the.

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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.

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