Saul Friedman is back writing about reverse mortgages as part of Older Americans Month, which the Obama Administration says is part of the theme of “Age Strong, Live Long.” Friedman writes that there is a way for older Americans to protect themselves against too many medical bills, high property taxes and the downers in your [...]

American Consumer Credit Counseling (ACCC) announced it has been approved as a Housing Counseling Agency by the US Department of Housing and Urban Development (HUD). As a result ACCC is able to provide reverse mortgage and money debt management counseling said the company in a statement. “We are thrilled to be approved by HUD to [...]

Two Michigan based mortgage companies have merged to create the largest reverse mortgage lender in the state. 1st Financial Reverse Mortgages has become part of Success Mortgage Partners (SMP) said Mike Gruley, President of 1st Financial Mortgage in an email to RMD.

The Federal Housing Administration is reporting that reverse mortgage applications were up 10.4% in April, coming it at 8,169 units during the month.  April marks the third straight month over month increase in applications and is a good sign that lower costs for consumers are helping to drive demand. Despite the number of applications being down [...]

HOMEQ Corporation posted record origination volume during the first quarter of 2010.  For the first three months of 2010, volume came in at $47 million and exceeded Q1 2009 numbers by over 200%. Driven by a sustained demand throughout the country for its reverse mortgage program, the company said the number of inquiries and applications continue [...]

A request for $250 million to support the Home Equity Conversion Mortgage (HECM) program will not likely be approved for the federal government’s fiscal 2011 budget, according to Vicki Bott, HUD’s deputy assistant secretary for single family housing. “We don’t expect an appropriation to happen,” Bott told RMD in a recent, wide-ranging interview, timed to [...]