Leave it to “industry” analysts to tell CNBC that “reverse mortgages are quickly turning into a main source of income for struggling seniors trying to stay financially afloat”.  RMD’s own Jim Veale has written about the use of the word income with reverse mortgages and why reverse mortgages are not income but not everyone got [...]

Despite recent announcements from the Senior Lending Network that it’s seeking a buyer and WSFS’s decision to wind down 1st Reverse Financial Services, the reverse mortgage industry continues to be a sector where private investors see opportunity. American Advisors Group (AAG) announced earlier this month that it received a $4 million investment from JAM Equity [...]

Wholesale reverse mortgage production made up 5,392 of the 9,828 units in July, bringing the YTD number to 35,204 according to data from Reverse Market Insight.  Below is a list of the top 10 wholesale reverse mortgage lenders over the last 12 months.

Ric Romero from ABC 7, Los Angeles, CA recently ran a segment on how Reverse Mortgages could ruin your finance.  According to Romero, the story is based on its investigation into reverse mortgages with Consumer Reports. The report tells a sad story about 83 year old Arlene Schwemmer, who is no longer able to live [...]

Fannie Mae’s reverse mortgage portfolio grew from $41.2 billion as of December 31, 2008 to $48.6 billion as of June 30, 2009 according to a recent SEC filing.  The $7.4 billion increase comes despite Fannie Mae’s decision to raise margins on the reverse mortgages it purchases. According to the filing, the majority of the loans [...]

The September 2009 issue of Consumer Reports (CR) contains what CR labels an investigative report on reverse mortgages, titled “Reversal of Fortunes.” Its subtitle is: “The next financial fiasco? It could be reverse mortgages.” It is a lengthy article which makes many accusations while covering an array of subjects all without any of the earmarks [...]