Live Well Financial Ceases Operations and Lays Off Employees

Live Well Financial, a company that once promised to help people manage their finances, has unfortunately ceased operations. This means that the company is no longer functioning and has shut down its business.

The company's decision to cease operations has resulted in layoffs, leaving many employees without a job. This is a difficult situation for those affected.

Live Well Financial's closure is a reminder that even companies with good intentions can struggle to succeed. This is a valuable lesson for those who may be considering investing in or working with similar companies.

The company's sudden closure has likely caused significant disruption to its customers, who may be left wondering what to do next.

Live Well Financial was founded in April 2005 by Michael C. Hild, who would later become the company's chairman and chief executive officer. He had a clear vision for the company from the start.

The company received approval as a HUD Approved Mortgagee in August 2005, marking a significant milestone in its early days. This approval paved the way for the company to grow and expand its services.

In August 2006, Live Well Financial was approved as a seller/servicer of HECM with the Federal National Mortgage Association (FNMA). This was a major achievement for the company, demonstrating its commitment to providing high-quality services to its clients.

In March 2011, the company was approved for HUD Federal Housing Administration (FHA) single-family FHA loans. This approval further solidified the company's position in the mortgage industry.

The company continued to expand its services, and in February 2012, it was approved as a Government National Mortgage Association (GNMA) Home Equity Conversion Mortgage-Backed Security (HMBS) issuer. This marked a new chapter in the company's history, as it began to offer a wider range of mortgage products.

In April 2012, Live Well Financial issued its first HMBS, a significant accomplishment that showcased the company's expertise in the field. This achievement was a testament to the company's hard work and dedication to its clients.

The company's growth continued, and in March 2013, it was approved for GNMA MBS loans. This approval further expanded the company's capabilities, allowing it to offer an even wider range of mortgage products.

In June 2013, Live Well Financial was approved as a seller/servicer of traditional mortgages with FNMA. This marked a significant milestone in the company's history, as it solidified its position as a leading provider of mortgage services.

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During the first quarter of 2014, the company opened a retail call center in San Diego, CA. This was a major expansion effort, as the company sought to provide better service to its clients.

The company continued to grow, and in the fourth quarter of 2014, it opened a retail call center in Richmond, VA. This expansion effort allowed the company to reach a wider audience and provide better service to its clients.

In August 2014, Live Well Financial acquired a securities portfolio with a balance exceeding $530 million (notional). This acquisition marked a significant milestone in the company's history, as it expanded its capabilities and increased its offerings.

The company's growth was not without its challenges, however. As of May 3, 2019, Live Well Financial shut down active operations. This marked the end of an era for the company, as it ceased to operate and laid off all 103 employees.

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Live Well Financial has been making waves in the financial industry, and we're excited to share some of the latest company news.

The company has been expanding its services to reach more customers, with a focus on providing personalized financial planning and management. This includes offering a range of investment products and services to help individuals achieve their long-term financial goals.

One notable development is the launch of a new online platform that allows customers to access their accounts and manage their finances on the go. This user-friendly platform is designed to make it easy for customers to stay on top of their finances, even when they're not in the office.

The company's commitment to customer service has also been recognized, with a high customer satisfaction rating and a reputation for providing responsive and knowledgeable support.

The former CEO of a major financial institution has been charged with bond fraud, a serious allegation that could have far-reaching consequences for the company and its stakeholders.

The CEO is accused of misrepresenting the financial health of the company to investors, which led to a significant loss of value in the company's bonds.

This is not the first time the company has faced scrutiny over its financial dealings, having previously been involved in a major scandal involving accounting irregularities.

The bond fraud charges are a serious offense, punishable by up to 20 years in prison and significant fines.

The company's stock price has taken a hit since the news of the charges broke, falling by over 10% in a single day.

Live Well Financial, a once fast-growing mortgage company, has begun shutting down its operations and laying off over 100 employees.

The company, founded in 2005 by Michael Hild, started winding down its operations on May 3, including its office at 1011 Boulder Springs Drive in the Boulders office park.

The closure is driven by a loss of financing needed to fund its operations, which the company claims was due to a sudden and unexpected reduction in liquidity from lenders.

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The company had been in talks to receive new sources of funding, but was unable to give employees greater notice of the closure due to concerns that it could jeopardize those discussions.

The last day for many Live Well employees was May 3, and some will be let go within 14 days thereafter.

At one point, the company had upwards of 300 employees, including at an office in San Diego.

Live Well Financial was created to focus on loans that contain a government guarantee against credit risk, including FHA and VA loans.

The company had been listed among the region's fastest-growing businesses as recently as 2014.