Financial institutions are being asked to include any reverse mortgage fraud occurrences in their Suspicious Activity Reports (SARs) according to new guidance issued by the Financial Crimes Enforcement Network (FinCEN). As more seniors have started using reverse mortgages, public reports of financial crimes involving the HECM program have become more prevalent said FinCEN.

InvestorDaily is reporting that Royal Bank of Scotland (RBS) Australia is in discussions to sell its reverse mortgages business. According to ID, its parent company conducted a strategic review earlier this year and decided now was the time to sell all non-core retail businesses outside of the United Kingdom (UK).

The CBS Early show ran a feature on reverse mortgage this morning during its Money Watch segment. CBS correspondent Rebecca Jarvis discusses the product and recent changes like the elimination of servicing and origination fees. It’s a positive segment but of course the Consumer Reports “investigation” was briefly mentioned by saying that the volume of [...]

Most would think that lowering reverse mortgage costs for consumers would be a positive thing but many in the industry feel these changes are only causing more confusion. Dennis Haber has been voicing his opinion on the changes a lot recently, and he recently wrote that the new interest rates, elimination of the servicing fees, [...]

Reverse Fortunes is providing RMD readers with another free reverse mortgage training session on May 6th at 1:00 PM (EST). They will discuss how while the fixed rate is popular, is it always the best choice for your client? Are you fully informing borrowers about the advantages and disadvantages of the fixed versus the adjustable [...]

Generation Mortgage Company, a retail and wholesale reverse mortgage lender continues to maintain its prominence as the highest-ranked privately owned reverse mortgage lender in the nation, according to a March 2010 report from Reverse Market Insight. “High standards of service and a commitment to putting the needs of the senior homeowner first are the reasons [...]