Reverse mortgage professionals attending the industry’s annual meeting in New Orleans this week will hear pre-planned discussions of new regulations, new products and new counseling protocols, among other topics. They also will be mingling with one another – catching up on industry occurrences, looking for answers and sharing ideas at a time of considerable change. [...]

Reverse Fortunes announced it has added 1st Reverse USA as its latest client for their customer relationship manager (CRM).  The company recently released an updated version of the software that is tailored to the needs of lenders originating reverse mortgages. “As we develop our retail distribution channel, we see it as an operating necessity to [...]

Reverse mortgage applications rose to the highest levels all year in September, up 39.1% from October according to a report from the Federal Housing Administration. During September, FHA received 255,938 applications, with HECMs making up 13,478 and the rest being “forward” purchase and refis.  The sharp increase was likely driven in the amount of money [...]

Nursing home and assisted living rates rose significantly in 2010 according to the Market Survey of Long-Term Care Costs. MetLife’s annual market survey found that private room nursing home rates rose 4.6% to $229 per day or $83,585 per year, while assisted living rose 5.2% on average to $3,293 per month, or $39,516 per year. [...]

WSFS Financial Corporation, the parent company of WSFS Bank, announced that Henrietta Belcher-Stack, Assistant Vice President of Reverse Mortgage, received the first Certified Reverse Mortgage Professional (CRMP) designation. The CRMP designation was created by an Independent Certification Committee comprising of members from the National Reverse Mortgage Lenders Association (NRMLA) that administer the program, while working [...]

A look into data from the 2009 American Housing Survey shows there is plenty of opportunity for the Federal Housing Administration’s new HECM Saver, but lenders say it could take some time before the new product catches on. As an industry, reverse mortgage lenders have become fairly successful at reaching borrowers looking to pay off [...]