Despite a tumultuous 2011 for many who offer reverse mortgages, the products are not going away, a New York Times column reported Friday. “People certainly shouldn’t be worried,” about the reverse mortgage program, former Deputy Assistant Secretary for Single-family Housing Vicki Bott, who left her post Friday at the Department of Housing and Urban Development, [...]

In case you missed it…here’s what happened in reverse mortgage news this week. Mainstream media reports covered Wells Fargo’s exit from the retail reverse mortgage business. Bloomberg and others reported that MetLife Bank is now poised to become the No. 1 reverse mortgage lender in the nation. A Reverse Market Insight report showed five of [...]

National Mortgage News reported this week that more than 10 states have revamped mortgage and foreclosure rules by making legislative or regulatory changes. MRG Document Technology, which tracks compliance and rule changes, issued a variety of alerts for several different states; notably, many of these states made changes to foreclosure laws, perhaps in response to rising [...]

The financial assessment being developed by the Department of Housing and Urban Development to aid in determining HECM borrowers’ ability to meet the obligations associated with the loans continues to move forward said the agency earlier this week. Such a “financial assessment” could have potentially addressed some of the issues raised by Wells Fargo in [...]

While many reverse mortgage lenders have made use of client testimonials in order to spread word of mouth about product offerings, American Advisors Group has launched a new print publication featuring client success stories to use in its marketing and sales process. Rolled out just this week, AAG says it already is seeing positive feedback [...]

In a conference call today, Professor Elizabeth Warren, White House special advisor, and Consumer Financial Protection Bureau staff announced a request for comments regarding the bureau’s non-bank supervision program. While mortgage companies of all sizes are subject to the bureau’s supervision and examination, the CFPB today noted six markets for which non-bank entities offering consumer [...]