Reverse mortgage sales and marketing still rely on broadly used principles. Chief among cardinal sales and marketing sins is assuming to know your customers without constant re-analysis and… Read More

Reverse mortgage professionals often talk about a need to be dedicated to both the product and the demographic it’s designed to serve. Specialization, some argue, is a key differentiat… Read More

As the year winds down in its final days, the team here at HW Media and Reverse Mortgage Daily wants to express wishes for a very Happy New Year to all of our valued readers! In observanc… Read More

The reverse mortgage business has had a tumultuous 2023 that has included low loan volume, liquidity challenges and a raft of new government policy related to the Home Equity Conversion Mort… Read More

The reverse mortgage industry leaderboard has been reasonably stable over the past several years. American Advisors Group (AAG) has been at the top of the pile for its ubiquitous brand and c… Read More

Finance of America Companies (FOA) President Kristen Sieffert sat down recently with Sarah Wheeler, Editor-in-Chief of HousingWire, to discuss the realities, challenges and opportunities for… Read More

The South Tampa Chamber, a chamber of commerce representing business in the Tampa Bay, Fla. community, has recognized reverse mortgage industry professional Chris Bruser with its “Amba… Read More

As we prepare to say goodbye to 2023, the reverse mortgage industry is on the cusp of new change. This year has seen the consolidation or exit from the space of several major lenders —… Read More

Members of Generation X — the cohort generally perceived to have been born between 1965 and 1981 — are expected to have average retirement savings of roughly $661,000, which is w… Read More

Counseling agencies and individual counselors that have submitted public comments on a U.S. Department of Housing and Urban Development (HUD) proposal to expand housing counseling delivery o… Read More

The Consumer Financial Protection Bureau (CFPB)’s Office of Research published new data detailing the usage of cash-out refinances, a more popular home equity-tapping method relative t… Read More

A presiding magistrate judge has recommended denying reverse mortgage servicer Celink‘s recent motion to have a case brought against it and bankrupt lender Reverse Mortgage Funding (RM… Read More

A sweeping data breach against Mr. Cooper Group has impacted approximately 32,000 reverse mortgage customers, the company disclosed. Mr. Cooper became aware of the breach on Oct. 31, which c… Read More

AARP is one of the biggest, most influential advocacy organizations in the country. The reverse mortgage product landscape is designed to exclusively serve the demographic of U.S. seniors, s… Read More

The U.S. Department of Housing and Urban Development (HUD) recently issued a new $40 million Notice of Funding Opportunity (NOFO) designed to “expand the supply of service coordinators… Read More

Finance of America Companies (FOA), parent company of reverse mortgage industry-leading lender Finance of America Reverse (FAR), was notified on Dec. 12 by the New York Stock Exchange (NYSE)… Read More

The Mortgage Bankers Association (MBA) is looking ahead at more potential reverse mortgage activity in 2024, according to a statement from Bob Broeksmit, its president and CEO. Speaking t… Read More

Senior-held home equity rose for the second consecutive quarter in Q3 2023, after reductions observed in Q4 2022 and Q1 2023. Senior housing wealth grew by an estimated $178.4 billion in… Read More

The Federal Housing Administration (FHA) this week announced the availability of new Home Equity Conversion Mortgage (HECM) program-specific training modules, designed to incorporate the swe… Read More

Tappable home equity has nearly returned to its 2022 peak, but elevated interest rates are keeping homeowners from exploring options to tap it. This is according to the December 2023 Mortgag… Read More

Ginnie Mae President Alanna McCargo discussed the reverse mortgage business environment, challenges that come with managing a government-owned corporation, assuming the servicing portfolio o… Read More

Ellington Financial Corporation, parent company of top 10 reverse mortgage lender and servicer Longbridge Financial, is expected to close a deal to acquire Arlington Asset Investment Corp. (… Read More

In 2022, Annapolis, Md.-based South River Mortgage launched its own proprietary reverse mortgage loan, “HomeForLife,” that it said had managed to avoid some of the challenges aff… Read More

Ginnie Mae last week released its 2023 annual report, including performance information about its Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program. The data include… Read More

AARP is one of the most vocal and active lobbying organizations in the country, using its voice to advocate for American seniors. The organization has been cautious about the reverse mortgag… Read More

While Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) issuance fell in November, so did HMBS prepayments for investors, according to an analysis and commentary by New View Ad… Read More

Ginnie Mae released its 2023 annual report this week, touting its additional support for the Federal Housing Administration (FHA)’s Home Equity Conversion Mortgage (HECM) program and i… Read More

Baby boomers’ retirement readiness is a regular source of discussion among reverse mortgage professionals, and a new report from Vanguard claims that generation is generally less well… Read More

The AARP Foundation has joined a class-action lawsuit against reverse mortgage servicer Celink and the estate of bankrupt lender and servicer Reverse Mortgage Funding (RMF) alleging the two… Read More

The National Reverse Mortgage Lenders Association (NRMLA) Board of Directors has elected attorney Jim Milano to join its ranks, according to an announcement from his law firm McGlinchey Staf… Read More

Finance of America Reverse (FAR) is now the undisputed leader of the reverse mortgage business, acquiring American Advisors Group (AAG) earlier this year and taking control of that company&r… Read More

The U.S. Department of Housing and Urban Development (HUD) Office of Policy Development and Research (PD&R) took a closer look at housing instability and homelessness for the senior popu… Read More

As the reverse mortgage industry prepares to enter a new year with hopes pinned on a higher HECM limit and a potentially friendlier rate environment, industry performance metrics for Novembe… Read More

Aging in place is the dominant preference among a raft of options aging seniors may have for later life. Particularly after the COVID-19 pandemic where congregate care settings emerged as so… Read More

Last week, the U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) made a series of new housing program limit announcements including a new re… Read More

Housing headlines seem defined by historically high interest rates and affordability challenges, which present challenges for baby boomers at or near retirement seeking financial stability i… Read More

It doesn’t happen every day, but it appears that some comedians have turned their attention to reverse mortgages. In October, reverse mortgages featured in ignoramus Peter Griffin&r… Read More

The reverse mortgage product category assumed a much greater level of importance at government-owned company Ginnie Mae in 2023. Following the bankruptcy of Reverse Mortgage Funding (RMF) in… Read More

The Federal Housing Administration (FHA) on Thursday published new Home Equity Conversion Mortgage (HECM) servicing guidance in response to industry feedback. In Mortgagee Letter (ML) 202… Read More

O2 Mortgage, a broker that does business in the reverse mortgage space as Oxygen Mortgage, was acquired by JZZ Technologies as part of its real estate development strategy. Terms of the d… Read More

Paul Fiore is a reverse mortgage industry leader who spent more than 14 years at its leading lender, American Advisors Group (AAG). After that company was acquired by Finance of America Comp… Read More

Certain assets that cost money over time could have a negative impact on investments and retirement, according to a financial advisor who works with mass-affluent retirees. This could play i… Read More

The lending limit for federally-backed reverse mortgages is increasing for the eighth consecutive year in a row to $1,149,825 in 2024. The Federal Housing Administration (FHA) announced o… Read More

A financial analyst once dubbed the “oracle of Wall Street” by Bloomberg says that high living costs will soon force baby boomers to downsize into smaller homes, potentially aidi… Read More

In this special fiftieth episode of RMD, we feature interviews with several attendees of the NRMLA Annual Meeting and Expo recorded on-site during the event. Listen to perspectives on… Read More

As the National Reverse Mortgage Lenders Association (NRMLA) Annual Meeting and Expo in Nashville event wound down on the third and final day, RMD solicited input from a cross-section of the… Read More

Reverse mortgages are “expensive” loans, according to financial advisors. But how much does that play into the situations of retirees who have a cash flow problem that could be s… Read More

For the third time since 2015 after a sustained rocky period in red ink, the Home Equity Conversion Mortgage (HECM) book of business inside the Mutual Mortgage Insurance (MMI) Fund reached a… Read More

Retirement account balances decreased only slightly in the third quarter of 2023, but account withdrawals and loans are inching up as the ongoing effects of inflation continue to impact work… Read More

The National Reverse Mortgage Lenders Association (NRMLA), the reverse mortgage industry’s primary trade group, has re-elected Scott Norman of Finance of America Reverse (FAR) and Mike… Read More

The Home Equity Conversion Mortgage (HECM) for Purchase (H4P) program has been struggling to gain wider acceptance in the reverse mortgage industry for years, despite seeing a slight uptick… Read More

Open Mortgage, a multi-channel lender based in Austin, Texas, and a top 10 reverse mortgage lender, has closed its reverse mortgage origination division, RMD has learned. Open Mortgage CE… Read More

Professionals offering personalized financial advice have emerged as a key reverse mortgage industry referral partnership. Still, a new study illustrates that older Americans are the most re… Read More

The Federal Housing Administration (FHA) on Tuesday published Mortgagee Letter (ML) 2023-20 updating the amounts allowable for property inspection fees for property preservation and protecti… Read More

Ginnie Mae’s portfolio of Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) poses a “significant risk” to the U.S. Department of Housing and Urban Development… Read More

A case brought against defunct reverse mortgage lender Live Well Financial by a cohort of its former employees has been preliminarily approved for a seven-figure settlement. The award will c… Read More

Finance of America Companies (FOA), parent company of Finance of America Reverse (FAR), has enlisted the services of identity security company Spera Security to bolster its defenses against… Read More

The reverse mortgage portion of the Federal Housing Administration’s (FHA)’s Mutual Mortgage Insurance Fund (MMIF) has reached a positive capital ratio for the third time since 2… Read More

While investors are generally concerned about longevity risk — people outliving their retirement savings — new data from the Boston College Center for Retirement Research and the… Read More

Counselors certified by the U.S. Department of Housing and Urban Development (HUD) to offer guidance to borrowers of the Home Equity Conversion Mortgage (HECM) program are the best there is… Read More

A U.S. congressman and members of the Windsor, Colo. community turned out to support U.S. military veteran Ed Sharp this past Veterans Day after the congressman’s intervention in a rev… Read More

2023 has been a very busy year for Alanna McCargo, president of the Government National Mortgage Association (Ginnie Mae). Sworn into her role at the beginning of 2022, McCargo became Gin… Read More

Guild Mortgage, the California-based lender that acquired a reverse mortgage division from Cherry Creek Mortgage earlier this year, reported increased third-quarter profits despite mortgage… Read More

Mortgage real estate investment trust (mREIT) Ellington Financial, the parent company of Longbridge Financial, posted positive financial results in the third quarter of 2023 that it largely… Read More

Texas Capital Bank (TCB), a warehouse lender for failed reverse mortgage industry lender Reverse Mortgage Funding (RMF), secured a portion of the $28.6 million debtor-in-possession financing… Read More

The Federal Housing Administration (FHA) on Thursday published a new draft version of a Mortgagee Letter (ML) containing a second series of proposed changes to the Home Equity Conversion Mor… Read More

Reverse mortgage loan originator website and CRM vendor Reverse Focus announced a new partnership with Reachality this week, implementing its mortgage-focused conversational artificial intel… Read More

Finance of America Companies (FOA), the parent company of industry-leading lender Finance of America Reverse (FAR) and its American Advisors Group (AAG) brand, managed to reduce its net loss… Read More

As many as two million baby boomers who were predicted to return to work in the years following the onset of the COVID-19 pandemic are choosing to remain in retirement, according to data fro… Read More

Ocwen Financial, parent company of leading reverse mortgage lender Liberty Reverse Mortgage and PHH Mortgage Corporation, managed to maintain profitability in the third quarter of 2023 large… Read More

The U.S. Department of Housing and Urban Development (HUD) announced recently that it is moving to sell a package of 1,558 reverse mortgage notes secured by vacant properties. The notes have… Read More

October, already a spooky month, held true for two key monthly performance metrics in the reverse mortgage space. Home Equity Conversion Mortgage (HECM) volume saw a slight uptick of 2% t… Read More

Workers broadly expect their defined contribution retirement plans, such as 401(k)s, to be their primary source of cash when they retire. However, many workers maintain a high level of anxie… Read More

The Federal Housing Administration (FHA) this week published a new draft version of a Mortgagee Letter (ML) containing a series of proposed changes to the Home Equity Conversion Mortgage (HE… Read More

The Federal Housing Administration (FHA) this week extended a moratorium on foreclosures on the island of Maui as the community continues to deal with the fallout of devastating wildfires th… Read More

On Thursday, the Office of the Inspector General (OIG) of the U.S. Department of Housing and Urban Development (HUD) announced that it is initiating an inquiry into how Ginnie Mae monitored… Read More

The White House is proposing new protections for seniors seeking to roll over their 401(k) account balances into individual retirement accounts (IRAs), an extension of a federal war on &ldqu… Read More

It’s tough for reverse mortgage industry professionals out there: high interest rates, less beneficial terms for borrowers, and a challenging economy mean origination volume is hard to… Read More

A chief concern among American workers right now is living longer than their financial resources, and one way seniors try to avoid that is by working longer. However, data from multiple s… Read More

Long-awaited Home Equity Conversion Mortgage (HECM) program guidance revisions to the Federal Housing Administration (FHA)’s Single Family Handbook 4000.1 have been published according… Read More

Representatives from Altisource Portfolio Solutions S.A. call a recent deal involving reverse mortgage servicer and subservicer Celink as a “win” for its third quarter. The compa… Read More

After delivering a speech that reiterated the Federal Housing Administration‘s (FHA) commitment to the Home Equity Conversion Mortgage (HECM) program, FHA Commissioner Julia Gordon par… Read More

Former Ginnie Mae president Ted Tozer penned an editorial advocating for additional support from the government corporation for independent mortgage banks (IMBs), which included policy propo… Read More

Alanna McCargo, president of Ginnie Mae, addressed assembled reverse mortgage professionals while affirming the company’s rock-solid commitment to the Home Equity Conversion Mortgage (… Read More

The U.S. Department of Housing and Urban Development (HUD) this week published a proposal to the Federal Register that would broaden the ways in which counseling services can be performed, w… Read More

The reverse mortgage business is likely to see an annual reduction in total loan volume by the time 2023 is over. Elevated interest rates have been leading to less beneficial terms for borro… Read More

More homeowners are turning to home equity lending — especially home equity lines of credit (HELOCs) — to pay for home renovations instead of buying another home. However, home m… Read More

The Federal Housing Administration (FHA) announced this week the publication of newly proposed guidance for the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) program in the Feder… Read More

Home equity lending in the United States is on the rise. While reverse mortgage volume has yet to benefit from that spiked interest, consumer curiosity about Home Equity Lines of Credit (HEL… Read More

Federal Housing Administration (FHA) Commissioner Julia Gordon once again offered the reverse mortgage industry a rock-solid commitment to the Home Equity Conversion Mortgage (HECM) program… Read More

Reverse mortgages often appear on television these days as part of a joke. When now-President Joe Biden first announced his 2020 campaign for the office, the kickoff video was compared to… Read More

Finance of America Companies (FOA), parent company of industry-leading reverse mortgage lender Finance of America Reverse (FAR), announced on Monday the expanded roll out of “HomeSafe… Read More

Ellington Financial, the parent company of major reverse mortgage lender Longbridge Financial, announced last week that its acquisition of real estate investment trust (REIT) Great Ajax Corp… Read More

Sky-high mortgage rates have made it difficult for industry pros to connect with new and existing borrowers. Refinance business is paltry, while new originations are harder to come by as hig… Read More

If it hasn’t become clear already, the U.S. population is aging at an accelerated rate when compared with prior generations. For some communities, that has required a re-assessment of… Read More

Top 10 reverse mortgage lender HighTechLending has appointed Phil Walker as its new VP of retirement strategies, aiming to leverage his experience in financial services to help facilitate le… Read More

Nearly 80% of homeowners remain just as anxious as they were about the economy last year, despite the fact that 86% of homeowners report that the value of their homes increased between 2022… Read More

In late 2019, the National Reverse Mortgage Lenders Association (NRMLA) held its Annual Meeting and Expo in Nashville, Tenn. The event was considered a success by both the association and at… Read More

With many Americans pinched by stubbornly high inflation in the economy, more Americans are turning to early withdrawals from retirement accounts to make ends meet — which could have c… Read More

For the reverse mortgage division of Charlotte-based mortgage lender Cardinal Financial Company, the story is over before it had much of a chance to begin. The division has ceased operati… Read More