In case you missed it…here’s a recap of reverse mortgage news this week: We reported on a Cantor Fitzgerald study which calls reverse mortgage market growth potential “Enormous.” Over the course of 22 years and $95 billion of HECM loans insured by the Federal Housing Administration, the U.S. has become the world’s most developed reverse [...]

Nothing has brought home the statutory provision forbidding the displacement of non-borrowing spouses like a recent loan. The loan closed on a Tuesday, rescission ended three days later on Saturday morning at midnight, and funding occurred on the following Monday. Then the next day, Tuesday—exactly one week after closing—the HECM borrower passed away. The surviving [...]

Pending home sales continued to rise in March, according to the most recent data from the National Association of Realtors. Contract activity rose unevenly in six of the past nine months, NAR said. NAR’s Pending Home Sales Index, which is based on contract signings, rose 5.1% in March. The index is 11.4% below that of [...]

Once an industry that thrived on the development of private products to meet the needs of senior homeowners, the reverse mortgage industry of today is almost entirely comprised of a single government product. Prior to the financial crisis, there were several lenders offering a variety of proprietary products and no one would’ve argued about the [...]

The performance of Urban Financial Group had a nice impact on Knight Captial Group’s profitability during the first quarter according to company executives of the Wall Street firm that acquired Urban last year. Tom Joyce, CEO of Knight Capital and Steve Bisgay, Knight senior managing director and CFO outlined the company gains, which amounted to $30.5 [...]

NBC’s the Today show ran a short segment this week featuring a viewer question about a reverse mortgage loan and whether it was the right option for an Oregon couple. The viewer asks: “My my husband and I have been told by friends we should do the reverse mortgage on our home. We could use [...]