The Economic Times is reporting that India’s largest insurer, Life Insurance Corporation (LIC), is planning to enter the reverse mortgage space.  A senior official at the company told the Times it’s in discussions with the National Housing Bank (NHB) (housing regulator). “Once we get clearances from within our organisation, we’ll explore opportunities with other banks and [...]

Generation Mortgage announced a new 4.99% fixed rate reverse mortgage product it’s offering to both wholesale and retail customers. “We want to give senior homeowners as many alternatives as possible to enable them to stay in their house,” said Scott Peters, President and CEO, Generation Mortgage. “And with such a fragile state of our nation’s [...]

HousingWire is reporting an amendment to the Wall Street Reform Bill that would eliminate the Home Valuation Code of Conduct (HVCC) has made it into the House Offer. In efforts to limit the interactions between appraisers and those originating the loan, the Federal Housing Finance Agency (FHFA) implemented HVCC in May 2009 in an attempt [...]

The Texas Mortgage Bankers Association will host the 9th annual “Reverse Mortgage Day” in Dallas, Texas on August 3rd. This day-long conference will be held at the Dallas Westin Galleria beginning at 8:30 am until 4 pm. Mortgage lenders, secondary market experts, and real estate attorneys from across the country will gather to discuss policies [...]

While long term care costs continue to rise nationally, the cost for in-home care is rising at a much slower pace according to an annual survey from Genworth Financial. The cost to receive care in the home has risen at an annual rate of just 1.7 percent over the past five years, compared to increases [...]

The competition between reverse mortgage lenders continues with MetLife’s decision to roll out produt changes late last week. The company introduced a “HECM Fixed No Service Fee 2″, which improved pricing on their fixed rate product to compete with the 100% Mortgage Insurance Premium credit from Bank of America.