Despite the short ten year history of reverse mortgages in Texas, the Lone Star State has become the third-largest reverse mortgage market in the nation reports My San Antonio. Originations have reached beyond a total of $3.3 billion and 36,000 borrowers and accounts for almost 8 percent of the national market says the Texas Mortgage [...]

During a conference call with industry leaders on Thursday, the Department of Housing and Urban Development said it hopes to roll out a new reverse mortgage product on Oct. 4, 2010. The new “HECM Saver” will be a low cost reverse mortgage product insured by the Federal Housing Administration.  Unlike the standard HECM, which has [...]

A one-third increase in attendance this year at its annual Reverse Mortgage Day, has the Texas Association of Mortgage Bankers sending an optimistic message to the industry at large: There is growing interest in reverse mortgages, especially in the Lone Star State. The larger turnout at this year’s event – the 9th annual – held [...]

Following a two-year investigation in Massachusetts, thanks to a referral by the Massachusetts Division of Banking, an Oxford-area man has been arraigned in regards to a complicated mortgage scheme. Allen Seymour, 42, used fraudulent documents to deceive homeowners and mortgage lenders into multiple real estate transactions on homes in danger of being foreclosed on in [...]

Mount Vernon Mortgage Corporation announced it has hired Robert Tranchell to oversee the companies newly expanded reverse mortgage division. Tranchell comes to Mount Vernon with almost a decade of experience in reverse mortgage lending said the company. “Reverse mortgages are growing in popularity for homeowners over the age of 62,” said Robert Petrelli, president of Mount [...]

CommunityONE, the public service Division of Security One Lending (S1L), and us here at RMD are teaming up to promote, organize, and mobilize a community service project in New Orleans before the National Reverse Mortgage Lenders Association’s Annual Conference in November. Working with the Bayou Rebirth and Project 195, the reverse mortgage community will provide clean [...]