Reverse mortgage lender Live Well Financial laying off 103 workers

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.

This becomes especially important during economic downturns, when workers are laid off or. risky to the lender than unsecured debt, where there is no collateral. Examples of unsecured debt include.

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An Austin, Texas-based mortgage lender plans to hire about 50 employees laid off in early May from Live Well Financial, including three of its top executives.

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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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 · Reverse mortgages are a great program for the right people. Ive had clients who were I’ll prepapred for retirement but couldn’t work and couldn’t afford a house payment. I’m talking like 1300/month income. A reverse mortgage allowed them to stay comfortable in their home and made it so their income could provide a more normal lifestyle.

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."

On Wednesday, Macy’s (NYSE:M), a $20.6 billion retailer, announced its earnings for the most recent quarter as well as a bold new restructuring. especially because of the company’s decision to lay.

Now, money I had been saving for years is circulating throughout the economy, helping make companies more profitable and keep workers employed. It’s the “paradox of thrift” in reverse. have been.

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