9/2/2011

SunTrust Banks has confirmed that it will no longer originate reverse mortgages. "After careful consideration, we have determined that we will no longer offer reverse mortgages," according to a company spokesman. "Production volume for these types of loans is extremely small compared to our overall mortgage volume, and from a strategic perspective focusing our full resources on more traditional mortgage origination and servicing is the most effective and efficient use of our resources going forward."

Related Summaries