Mortgage Lender Lays Off 119 Melville Employees, State Filing Reports

A national reverse mortgage lender has laid off more than 100 of its Long Island employees, according to a state filing.

Reverse Mortgage Funding in Melville
Photo Credit: *Google Maps street view*

Nicole Valinote

12/11/2022 3:30 p.m.

Reverse Mortgage Funding LLC laid off 119 employees from its Melville branch on Tuesday, Nov. 29, according to a WARN Notice posted on Friday, Dec. 9.

The reason for the layoffs was listed as "economic" in the filing.

According to Reverse Mortgage Daily, the company has filed for Chapter 11 bankruptcy, and more than 470 employees were laid off across the company in November.

A representative for Reverse Mortgage Funding said the organization will not comment on matters of employment beyond what is publicly available.

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