After the Massachusetts Senate approved legislation requiring a certain group of seniors receive face to face counseling sessions before they enter into a reverse mortgage, the local press is picking up on how it could impact reverse mortgages in the state. Sponsored by Sen. Susan Tucker (D-Andover), the changes were included as part of a bill [...]

Wholesale reverse mortgage volume fell 21.9% from February, coming at 3,038 units during March said the latest report from Reverse Market Insight.  Retail products was down 10.9% from February. Large lenders continue to dominate the industry, controlling 88.3% of March volume. This is slightly off from last month’s figure of 92.4%, but still above trend for [...]

Baby Boomers are “exhausted and emotionally frustrated with Wall Street.” As a result, “they are doing nothing and will not be able to retire,” Frank Troise from the company SoHo Asset Management told CNBC last week. Boomers were initially advised that they would see an 8 percent return in the market over 20 years. So, [...]

Reverse Mortgage Daily and Sam Colins are providing another free training session for RMD readers.   On Tuesday, June 8th at 2pm (EST), Sam will focus on how reverse mortgage originators can manage distractions and use their time better to increase order and originations. “Sometimes distractions pop up that you can not characterize,” says Collins. [...]

American Advisors Group (AAG) has secured former Senator Fred Thompson as its reverse mortgage spokesman. Thompson, an accomplished attorney, actor, author and commentator, is one of America’s most recognized and respected national figures said a company statement.  Additionally, he remains active in politics as well as hosts a nationally syndicated radio show.

Uncertainty surrounding the HMBS (HECM MBS) securitization program, sponsored by Ginnie Mae, has left investors feeling skittish, according to players up and down the line who participate in the process of pooling reverse mortgages for sale into the secondary market. A panel on the subject, at the NRMLA Road Show last month in Philadelphia – [...]