2023-09-22 19:12
The Government National Mortgage Association (Ginnie Mae) on Friday announced a new policy for its Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program, now allowing the s… Read More
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Reverse mortgage news and information. Search for commentary, product updates, interviews, and the latest on the industry.
2023-09-22 17:32
The National Reverse Mortgage Lenders Association (NRMLA) on Thursday announced that David Berenbaum, deputy assistant secretary for the Office of Housing Counseling at the U.S. Depart… Read More
2023-09-21 19:37
Earlier this week, multi-channel national mortgage lender Guaranteed Rate announced the appointment of mortgage veteran Ryan Ogata as its new EVP of reverse mortgage lending. With a mission… Read More
2023-09-21 17:36
In a study conducted with a sample of 1,000 older adults across all 50 states, only 11% of respondents revealed that they would actively investigate reverse mortgage product options if it be… Read More
2023-09-20 19:05
The further development of advanced algorithms widely referred to as “artificial intelligence” (AI) is a highly disruptive topic in the technology space, with large multinational… Read More
2023-09-20 17:18
After falling for two consecutive quarters, senior-held home equity bounced back by $820 billion in Q2 2023 to $12.7 trillion. This is according to the Reverse Mortgage Market Index (RMMI)… Read More
2023-09-19 19:41
There are a couple longstanding debates in the reverse mortgage business. One is loan originator specialization, whether a lender or broker shop should have dedicated reverse LOs, or “… Read More
2023-09-19 18:31
Reverse mortgage servicing company Celink has retained Altisource Portfolio Solutions S.A. as its REO asset manager for a portion of its Home Equity Conversion Mortgage (HECM) portfolio, acc… Read More
2023-09-18 18:17
Chicago-based national mortgage lender Guaranteed Rate announced on Monday that company veteran Ryan Ogata has been appointed as EVP of its reverse mortgage lending division.
Ogata first… Read More
2023-09-18 16:18
A survey of over 1,000 U.S. adults conducted by GOBankingRates found that if not for the presence of the Social Security program, nearly one in four adults would not have any retirement plan… Read More
2023-09-15 18:57
Although seniors are often resistant to deploying their financial assets in later life as opposed to letting a will dictate disbursement after death, Longbridge Financial CEO Chris Mayer say… Read More
2023-09-15 16:43
Alanna McCargo, President of Ginnie Mae, has been added to the lineup of speakers scheduled to appear at next month’s National Reverse Mortgage Lenders Association (NRMLA) Annual Meeti… Read More
2023-09-14 17:24
Since the reverse mortgage business is primarily defined by the Federal Housing Administration (FHA)’s Home Equity Conversion Mortgage (HECM) program, it is reliant on the functioning… Read More
2023-09-14 17:06
In years past, those planning out their future in retirement would rely on the so-called “three-legged stool” consisting of social security benefits, pensions and personal saving… Read More
2023-09-13 17:30
Former CEO of defunct reverse mortgage lender Live Well Financial Michael Hild has been denied a motion for a new trial, with presiding Judge Ronnie Abrams of the Southern District Court of… Read More
2023-09-13 16:42
Assistant Secretary for Housing and Federal Housing Administration (FHA) Commissioner Julia Gordon will deliver a keynote address to kick off this year’s National Reverse Mortgage Lend… Read More
2023-09-12 19:22
Mutual of Omaha Mortgage’s reverse mortgage division has announced a new strategic business partnership with an estate planning company, as well as the appointment of industry veteran… Read More
2023-09-12 17:52
Home Equity Conversion Mortgages (HECMs) and annuities are two retirement products that remain underutilized, in part due to public policies preventing potential synergies from being explore… Read More
2023-09-11 17:33
The U.S. Department of Housing and Urban Development (HUD)’s Office of Housing Counseling (OHC) last week released a new update to its Housing Counseling Program Handbook, the first se… Read More
2023-09-11 17:14
The National Association of Mortgage Brokers (NAMB)’s national conference concluded on Monday in Las Vegas, and featured a more substantive reverse mortgage presence this year owing to… Read More
2023-09-08 15:00
If you listen to the more traditional mortgage voices, they are talking about untapped markets and underserved clients. They talk about how a reverse mortgage can improve the lives of people… Read More
2023-09-07 16:01
This week, HW Media — parent company of Reverse Mortgage Daily — announced that Chris Mayer, CEO of leading reverse mortgage industry lender and servicer Longbridge Financial, wi… Read More
2023-09-07 15:55
Tapping home equity as a component of retirement planning — by either downsizing or using a reverse mortgage — has a generally bad reputation, but that should not be the case. Th… Read More
2023-09-06 17:23
The rise of artificial intelligence (A.I.) and its utility in daily life is fast-evolving and disruptive, but also comes with complicated ethical questions for businesses.
The most visib… Read More
2023-09-06 17:07
Approximately 38% of first-time homebuyers under the age of 30 relied on either a cash gift from family members or inheritance in order to afford a down payment on a new home purchase, illus… Read More
2023-09-05 17:57
Industry performance rose in August, but both raw endorsement volume and securities issuance performance come with notable asterisks.
Home Equity Conversion Mortgage (HECM) endorsement vo… Read More
2023-09-05 17:32
A new column that recommends against the use of a reverse mortgage loan has cited recent data from the Consumer Financial Protection Bureau (CFPB) to make a case against reverse mortgages. H… Read More
2023-09-01 17:35
Westerville, Ohio-based national mortgage lender Revolution Mortgage has entered into the reverse mortgage business, and has appointed industry veteran Peter Morris to serve as VP of reverse… Read More
2023-09-01 16:37
Reverse mortgage borrowers who are taking advantage of the product’s standby line of credit feature could actually see a benefit from higher interest rates, since they often have a gro… Read More
2023-08-31 19:50
Most publicly traded companies operating in the reverse mortgage space were profitable in the second quarter of 2023 despite the tumultuous events of late 2022, including a major industry ba… Read More
2023-08-31 18:55
The Consumer Financial Protection Bureau (CFPB) this week released a new consumer guide intended to offer guidance for people when their property insurance costs surge, or when their coverag… Read More
2023-08-30 19:09
Multi-channel lenders have been warming to the reverse mortgage industry over the past year, seeing a potential opportunity to expand their presence in a space where they may not have staked… Read More
2023-08-30 17:26
As the state with the highest concentration of reverse mortgage volume in the country, California is a market that holds a lot of sway in the affairs of the reverse mortgage business. Like m… Read More
2023-08-30 12:00
With the lender aiming to make a bigger splash in reverse, this month’s RMD Podcast guest is loanDepot‘s Chief Marketing Officer Alec Hanson! Over the course of a wide-rangin… Read More
2023-08-29 17:33
Home price appreciation is a critical metric when gauging the health and penetration rate of the reverse mortgage product, and the Federal Housing Finance Agency (FHFA)’s house price i… Read More
2023-08-29 17:05
As the United States has had to deal with an accelerating pace of extreme weather events and natural disasters — playing out most recently in coastal or island areas like Hawaii and Fl… Read More
2023-08-28 20:35
In addition to the demonstrated aversion that many seniors appear to have toward tapping their home’s equity according to recent data, another major hurdle that may not be as often dis… Read More
2023-08-28 16:31
Looking at long-term care (LTC) options could be considered “grim” for a couple of reasons: the older a person gets, the likelihood they will need some sort of later-life care in… Read More
2023-08-25 19:30
At a wealth advisors conference with one of the most admired thought leaders in the financial services world, a statement was made that profoundly shifted the understanding of how money work… Read More
2023-08-25 17:00
Michigan-based University Bank announced this week the promotion of one longtime professional and the appointment of another. Carol Dujanovich will now serve the division as SVP and director… Read More
2023-08-24 18:58
Americans who are ill-prepared for retirement may not understand how long people tend to live after leaving the workforce, according to a new study.
A TIAA Institute and the Global Financ… Read More
2023-08-24 18:01
The Federal Housing Administration (FHA) this week released a new document clarifying some of the requirements related to Mortgagee Letter (ML) 2023-15, which implemented changes to the FHA… Read More
2023-08-23 16:08
Nearly three-quarters (74%) of respondents in a Mutual of Omaha survey report that they have little or no knowledge about reverse mortgages, with others revealing misconceptions about how ex… Read More
2023-08-23 15:36
For reverse mortgage professionals, a financial advisor remains an ideal referral partner: their clients are likely to have more assets and potentially higher levels of home equity, and coul… Read More
2023-08-22 16:00
U.S. homeowners remain on edge about the prospects of the nation’s economy in the months ahead, but people also seem to have slightly more willingness to employ financial products that… Read More
2023-08-21 17:45
This has been a year of adjustment for the reverse mortgage industry, particularly as the dust settles from a lender bankruptcy and several mergers and acquisitions. The spike in mortgage ra… Read More
2023-08-21 17:30
Investment bank and financial services company Credit Suisse last week reiterated its coverage of stock in Finance of America Companies (FOA) with a “neutral” recommendation, acc… Read More
2023-08-18 18:30
If you’ve attended any of the events put on by the National Reverse Mortgage Lenders Association (NRMLA) over the past several years, chances are you have run into Jim Milano.
Mila… Read More
2023-08-18 17:49
The oldest members of Generation X — the cohort most experts define as having been born between 1965 and 1980 — will soon be confronted with financial challenges that could have… Read More
2023-08-17 18:43
This week, the Federal Housing Administration (FHA) issued an informational notice to remind servicers of both forward and Home Equity Conversion Mortgages (HECMs) that relief options are av… Read More
2023-08-17 16:48
With climate challenges encroaching more on financial and insurance matters related to retirement and homeownership, a personal finance columnist at Business Insider has recently asked a ser… Read More
2023-08-16 16:51
Although most of the dust has settled in the bankruptcy declaration by former reverse mortgage industry leader Reverse Mortgage Funding (RMF), the State of Hawaii alleges it is owed years of… Read More
2023-08-16 16:47
The reverse mortgage industry has long discussed the demographic trends that are on its side when it comes to appealing to new potential borrowers, and next year could stand as a proving gro… Read More
2023-08-15 17:59
Home Equity Conversion Mortgage (HECM) endorsements in June spiked nearly 25% when compared with May’s figures, a welcome bump for a struggling industry. New data shows that the retail… Read More
2023-08-15 16:28
The baby boomer generation holds more housing wealth than any other in the United States, with a collective total of $18 trillion in home values. This is according to a newly-released estima… Read More
2023-08-14 18:40
Global credit rating agency DBRS Morningstar this week assigned a “good” rating, classified as its MOR RVO2 residential reverse mortgage originator ranking, to Finance of America… Read More
2023-08-14 17:28
As Americans grapple with the persistence of historic inflation, people increasingly turn to their retirement accounts — mostly 401K accounts — to make ends meet.
According to… Read More
2023-08-11 18:09
The Consumer Financial Protection Bureau (CFPB) this week released a new trends report primarily focused on advertising trends in the reverse mortgage industry, with a particular focus on ma… Read More
2023-08-11 17:01
Older Americans from the baby boom generation are increasingly becoming renters after downsizing their existing homes, with experts attributing the move to competition in the broader housing… Read More
2023-08-10 19:06
Multi-channel lender Open Mortgage announced this week that it has appointed industry professional Mike Hicks to serve as its new national director of reverse sales, a move made as longtime… Read More
2023-08-10 17:05
The late 2022 bankruptcy of leading reverse mortgage industry lender Reverse Mortgage Funding (RMF) is continuing to have an impact on the wider industry. A long-lasting mechanical impact of… Read More
2023-08-09 16:53
Finance of America Companies (FOA), parent company of reverse mortgage industry-leading lender Finance of America Reverse (FAR), recorded a net loss of $221 million in the second quarter of… Read More
2023-08-09 16:37
Multi-channel lender Open Mortgage has appointed Mike Hicks to serve as its new national director of reverse sales. Hicks will take over the responsibilities from reverse industry veteran Pa… Read More
2023-08-08 17:24
Ellington Financial (NYSE:EFC), the parent company of leading reverse mortgage lender Longbridge Financial, reported net income attributable to common stockholders of $2.9 million, or $0.04… Read More
2023-08-08 17:07
Property tax deferral programs are employed in some parts of the country to provide additional financial stability for a state’s older residents, but the state of Maine recently repeal… Read More
2023-08-07 17:12
Older homeowners who have larger homes may see downsizing into a smaller, more manageable home as a viable path to greater comfort, and potentially even partial financing of life in retireme… Read More
2023-08-07 16:31
After a home secured by a reverse mortgage was damaged in a fire that resulted in the death of the borrower and one of their adult children, the lender is eligible to receive insurance proce… Read More
2023-08-04 19:07
After acquiring Cherry Creek Mortgage earlier this year, Guild Mortgage, through its reverse revamped mortgage division, is moving further into the reverse mortgage business.
“Our r… Read More
2023-08-04 19:01
A Charles Schwab survey found that 62% of U.S. workers felt inflation is a primary roadblock to saving for a comfortable retirement, up from 45% last year. Workers also felt they needed $1.8… Read More
2023-08-03 20:32
Allegheny County — which is home to the city of Pittsburgh, Pennsylvania — has an older population. Nearly 20% of its 1.2 million residents are at or over the age of 65, accordin… Read More
2023-08-03 19:02
Ocwen Financial Corporation, parent company of PHH Mortgage Corporation and leading industry lender Liberty Reverse Mortgage, posted a net profit of $15 million in the second quarter of 2023… Read More
2023-08-02 19:57
The reverse mortgage industry’s performance data for the month of July is out, and it’s a tale of two sides: the volume of new HECM endorsements going up, while securities issuan… Read More
2023-08-02 19:41
Research suggests that older clients seeking mortgage financing are rejected for loans at higher levels than their younger counterparts, which could be due to several different factors inclu… Read More
2023-08-01 20:08
Movement Mortgage has publicly announced the expansion of its reverse mortgage division led by industry veteran Harlan Accola, who now serves as Movement’s national reverse mortgage di… Read More
2023-08-01 19:14
The New York State Office for the Aging (NYSOFA) announced on Tuesday that its collaboration with a smart home technology company has made a notable impact on feelings of loneliness among Ne… Read More
2023-07-31 20:30
Reverse mortgage industry veteran and professional coach Lorraine Geraci has been involved in the industry for over 20 years, and during that time has witnessed substantial changes to referr… Read More
2023-07-31 19:21
As is the case in many states across the country, the increasing population of older people and the need to address issues related to them have often been pushed aside in the halls of state… Read More
2023-07-28 20:38
In a survey of 1,000 respondents aged 55 or older, 89% of respondents said they wished to age in place in their own homes as opposed to seeking out more traditional senior living arrangement… Read More
2023-07-28 20:00
The Consumer Financial Protection Bureau (CFPB) this week released the latest edition of its “Supervisory Highlights” report, in which the Bureau calls out different kinds of loa… Read More
2023-07-27 19:40
Recent data shared at the National Reverse Mortgage Lenders Association (NRMLA) Southern Regional Meeting in Austin, Texas has helped shine a light on the persistent educational challenges t… Read More
2023-07-27 19:30
As an exercise he described as “fun,” financial planner and former actuary Steve Vernon estimated how long he might live, and how those calculations factor into his retirement pl… Read More
2023-07-26 20:23
Living in New York for most of her life, Lorraine Geraci first found reverse mortgages by working at a utility company. Little did she know that her initial discovery would set her on a care… Read More
2023-07-26 11:00
Reverse mortgage education continues to be a major industry priority, but why hasn’t the needle moved more over the past few years? This is one question that is raised on the lates… Read More
2023-07-25 19:54
For nearly 50 years, Charles had been concertmaster to some of the greatest conductors of the age: Sir Thomas Beecham, Leonard Slatkin, Mstislav Rostropovich — to name a few. When I me… Read More
2023-07-25 19:37
The ravages of high inflation are scarring the retirement perceptions of Americans across the country, as high living costs are pushing the expectations for both current earnings and the exp… Read More
2023-07-24 19:47
Leading reverse mortgage lender and servicer Longbridge Financial became the industry’s leading wholesale lender late last year, according to data from Reverse Market Insight (RMI). Th… Read More
2023-07-24 19:45
The United States already has one of the highest ages in the world for collecting full retirement benefits from government-sponsored plans. But as other nations grapple with how to manage fi… Read More
2023-07-21 18:41
The issue of appraisal bias — where home valuations can come out differently based on individual traits of a homeowner, such as race or age — is top-of-mind for the federal gover… Read More
2023-07-21 18:30
A new poll jointly conducted by news organization Axios and polling company Ipsos revealed that one-in-five respondents — or 20% — believe they will never have the opportunity to… Read More
2023-07-20 20:01
Darren Stumberger, the former portfolio manager and head of Live Well Financial’s bond trading section, is slated to be sentenced in federal court next month for his role in a scheme t… Read More
2023-07-20 19:25
Recent estimates have painted a bleak scenario for the state of American retirement. But one financial planner says that while costs are likely to increase for necessary health services in l… Read More
2023-07-19 20:56
Reverse mortgage companies do not commonly break out proprietary, private-label reverse mortgage origination data. However, from other data sources, the trends seen in the proprietary market… Read More
2023-07-19 19:42
The U.S. Senate Appropriations Committee voted last week to advance the Financial Services and General Government funding bill for fiscal year 2024, which includes a $14 million provision to… Read More
2023-07-18 20:21
Home Equity Conversion Mortgage (HECM) endorsements in May rose by 4.6%, and new data breaking out the retail and wholesale channels for the month illustrate that most of that growth came fr… Read More
2023-07-18 20:14
The American Social Security program continues to be a flashpoint for many voters, and politicians who are determined to bring its trust fund into solvency through cuts or raising the retire… Read More
2023-07-17 20:23
While education is and has been a key priority for the reverse mortgage industry for many years, data from Mutual of Omaha illustrates the continued challenge of spreading product and indust… Read More
2023-07-17 20:20
Reverse mortgages could present a viable option for federal retirees to fund their long-term care (LTC), but also come with some drawbacks that potential borrowers should keep in mind. This… Read More
2023-07-14 19:55
The mantra is clear – “We need to grow our industry.”
This week I represented Reverse Mortgage Daily and HousingWire at the National Reverse Mortgage Lenders Assoc… Read More
2023-07-14 19:50
Generation X was the first generation to enter the labor market after a shift from pension plans to defined benefit plans. And now this generation, which includes those born between 1965 and… Read More
2023-07-13 19:54
The Federal Housing Administration (FHA) this week published Mortgagee Letter (ML) 2023-15, which implements changes to the FHA for instances of anticipated or actual default of a lender&rsq&hell…Read More
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