The first round of Certified Reverse Mortgage Professional designations were awarded to six members according to a statement from the National Reverse Mortgage Lenders Association. In order to earn the designation, individuals are required to have a minimum of two years of experience in the reverse mortgage business and close at least 50 loans.  Additionally, individuals must [...]

With the potential of new reverse mortgage regulations coming from financial reform legislation, Reverse Giving announced it’s shutting down before it has formally launched. We covered the company and its goals earlier this month, which hoped to provide a safe way for seniors to give to churches through the proceeds of a reverse mortgage.

The financial regulation reform bill that made it out of conference at the end of last week will not require reverse mortgage lenders retain 5% of loans they package and sell if they’re insured by the Federal Housing Administration.  It’s a big win for the industry considering FHA’s HECM program makes up almost all of [...]

While the House and Senate have yet to vote on the financial reform bill that made it out of the conference report last week, AARP is voicing its support for the piece of legislation. “AARP is pleased that members of Congress, on both sides of the aisle, have worked together to create more transparency and [...]

Reverse Fortunes is providing Reverse Mortgage Daily readers with a free webinar on strategies to lower your lead costs on Thursday, July 8, 2010 at 12 pm EST.  The majority of companies have seen their lead acquisition costs soar over the last two years, Reverse Fortunes will teach you proven and achievable strategies to lower your lead [...]

Over the weekend the Wall Street Journal published that with lower costs, reverse mortgages are looking better.  WSJ columnist Amy Hoak writes that the lower costs also bring a new challenge to consumers, comparing the offers to find the best one. “Quite a few of the lenders now have reduced the origination fees,” says Barbara Stucki, vice [...]