Reverse mortgage reform is a leading concern in California, with the California Senior Legislature rating reverse mortgage transparency legislation as a top-ten state priority. In the past few months, the state has focused on other reverse mortgage legislation, recently passing a bill to prohibit reverse mortgage and insurance cross-selling. The 31st Annual Legislative Session, which [...]

For the 72 million American baby boomers, 10,000 of whom are turning 65 each day, the question of how and where to age is garnering an increasingly wide variety of answers and possibilities, says a New York Times article, with aging in place a central theme. An architect and a gerontologist who specializes in the relationship between [...]

In the midst of a hostile political climate in Washington, D.C. those fighting for the reverse mortgage industry continue to be challenged by the gridlock in Congress. On the heels of a financial crisis that has thrown the entire country into a tailspin, policy makers have not made it easy to get anything done as [...]

Moody’s announced last week the downgrades of $5 billion in reverse mortgage bonds comprising 12 deals. The 16 securities remain on review for further downgrade, Moody’s said, citing falling home prices and longer liquidation timelines. The deals were structured to include some potential losses and the downgrades now reflect a greater loss expectation. “Falling home [...]

Congressman Barney Frank (D-Mass.), co-author of the Dodd-Frank financial reform bill that is changing the course of the nation’s financial regulatory environment, announced Monday that he will not seek reelection in 2012. He has held his seat as Representative of the Fourth Congressional District of Massachusetts for more than 30 years and has long been [...]

The U.S.’s rapidly aging population is causing the Census to consider new metrics and definitions to track older Americans. The population of 90+ Americans is projected to more than quadruple over the course of the next four decades, Census data released this week states. That population nearly tripled over the past 30 years to reach 1.9 [...]