Live Well Financial shutters origination operations

And this is Daniel Schrider speaking and I’m joined here by my colleagues Phil Mantua, Chief Financial Officer. strides in our nCino Loan Origination System as well as a new online account.

Live Well Financial’s management team brings a wealth of experience spanning from decades of traditional mortgage know-how, banking, insurance, and other consumer financial services. We believe our strength and diversity of experience, along with a dedication to the close integration of marketing, operations, and information technology give.

Live Well Financial said in a letter to Virginia employment officials that it was ceasing operations and laying off its 103 employees who worked at the company’s corporate offices in the.

Live Well Financial, founded in 2005 by local entrepreneur and former Capital One executive Michael Hild, began May 3 shutting down its operations "in their entirety," including its office at.

Live Well Financial has confirmed on its website that it has ceased origination operations as of May 3, following information detailed to RMD last week describing that the firm would halt funding for new loans. 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.

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The news of Live Well Financial’s sudden exit from reverse mortgage lending last Friday left many somewhat stunned. But in fact, the company is ceasing all origination activities for both forward and HECM loans. In the most recent Top 100 HECM Lenders Report for April, Live Well posted 74 loans, 350 for the year to date (Jan-April).

To listen to the live call, please go to the Company’s website. may contain “forward-looking statements”, which relate to our future operations, future performance or our financial condition..

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