In case you missed it, here’s what happened in reverse mortgage news this week. HECM applications fell 12.7% in July, but the Saver remained stable. Total applications fell to 7,639 in July, posting a year-over-year loss of 14.8%. HECM Saver volume showed its first monthly loss, but as a percentage of total HECMs, the Saver is [...]

The Division of Banks in Massachusetts ordered five companies across the nation this week to stop reverse mortgage practices in the state. The Division of Banks charges that those companies are not licensed to do reverse mortgages in Massachusetts, and says it will notify other state regulators where the companies operate, that they have been [...]

While a lawsuit brought by AARP was able to influence the Department of Housing and Urban Development (HUD) earlier this year, a pending class action case might not be so fruitful, according to those familiar with the suit. Filed in early August, the current lawsuit alleges that Wells Fargo Bank and Fannie Mae have illegally [...]

The national deficit could reach a projected $1.3 trillion in 2011, says a report released today from the Congressional Budget Office. That would make it the third-largest shortfall in 65 years, exceeded in that time frame only by the deficits of the past two years. In addition, CBO cites that the number of people age [...]

A reverse mortgage may be right for someone who is cash poor and house rich, says a CBS News Money Matters online segment this week. The segment focuses on whether a reverse mortgage is right for someone with little income and a small mortgage payment. In a situation where someone is cash poor and house [...]

As reverse mortgage industry players adapt and expand to meet the needs of a changing marketplace, more and more reverse mortgage companies are seeking new reverse mortgage originators in wholesale and retail at Reverse Mortgage Jobs Online. If you have experience in the reverse mortgage industry, or if you are looking for companies that provide leads [...]