RMD wishes all its readers a safe and enjoyable 4th of July. RMD will be observing Independence Day on Friday, July 3. We’ll see you back here on Monday, July 6.
In case you missed it, here’s what happened in reverse mortgage news this week:
Reverse Mortgage Lenders See Volume Dive Post-Financial Assessment — New data on reverse mortgage application volumes shed light on the reverse mortgage landscape post-financial assessment. Application volumes are down 40% from March levels before the financial assessment deadline, when application volume surged, according to data provided by Reverse Market Insight. But the immediate effect may be short-lived.
California Pilots Program to Cure Reverse Mortgage Defaults — The California Reverse Mortgage Assistance Pilot Program (RevMAP) is the latest expansion of Keep Your Home California, a free, federally funded mortgage assistance program managed by the California Housing Finance Agency (CalHFA). The program could benefit an estimated 1,400 homeowners, according to Keep Your Home California.
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