Earlier this year the Office of Thrift Supervision (OTS) solicited comments on a new proposed schedule for Annual Supplemental Consolidated Data on Reverse Mortgages for its Thrift Financial Report (TFR). According to the OTS, collecting this information will provide the necessary information for policy development and the management of risk exposures posed by thrifts involvement [...]

For the fourth week in a row, the average reverse mortgage borrower with a LIBOR based product will receive $2,750 less.  That’s $11,000 less over the last month. The rates as of 12/29/09 are:

Millions of Americans are paying a high price for a safe place to put their money as banks offer extremely low interest rates on savings accounts and CDs according to the New York Times.  The elderly and others on fixed incomes have been especially hard hit and many have seen returns on savings, C.D.’s and [...]

Reverse Fortunes is presenting RMD readers with another free training session on January 7, 2010 at 9:00 AM to make sure your company is prepared for the new counseling changes. Reverse Fortunes will cover how HUD counselors are mandated to go the extra mile in what seems to be an effort to better educate the [...]

While images of nursing homes and assisted living often bring up visions of whitewashed walls, big buildings, and a hospital-like setting, other alternatives make clear that this is not always the case.  Of the one million people in assisted living (also known as residential care homes, adult foster homes, and board and care homes), about [...]

The amount of retirees utilizing a reverse mortgage continues to be small according to a survey released by the FINRA Investor Education Foundation.  Results from the National Financial Capability Survey found that of the people who are currently retired, only 1% of the respondents are using a reverse mortgage for living expenses.