With MetLife’s new underwriting requirements for reverse mortgage loans, will brokers begin to take their business elsewhere? Some say yes, the process of qualifying a borrower under the MetLift guidelines is too much trouble. Asking not to be named because of their business relationships with lenders, several brokers told RMD about the impact the new [...]

Grandparents are increasingly playing a bigger financial role in the lives of their grandchildren, but it’s at the expense of their own future financial security, the Wall Street Journal reports. The trend of grandparents providing added assistance can be attributed to the strain the economic recession is putting on children and grandchildren, and it’s causing [...]

Here’s what happened in reverse mortgage news in the short week before we skipped town to celebrate the holiday with family and friends… Congress said “Yes” to Housing Counseling Funds. Not quite fully restored, from its previous allocation, but the impact should be a good thing for HECM counseling agencies, which have been operating for [...]

Urban Financial Group announced today the appointment of a new managing director, former Generation Mortgage CFO Steven McClellan. McClellan will serve as Urban’s president and CEO. “Steve has a strong track record of financial and operational expertise,” said Robert Lyons, senior managing director of Knight Capital (NYSE: KCG ), Urban’s parent company. “With his management experience in [...]

The failure of the Super Committee to meet its $1.2 trillion deficit cut target by its deadline this week could have strong implications for the government bodies that oversee the Home Equity Conversion Mortgage program. Whether those implications will ever become reality is another story. For now, the Federal Housing Administration and Department of Housing [...]

A majority of investors feel they will be affected by changes made to Social Security or Medicare programs to reduce the federal budget deficit, reveals a recent Gallup poll. At 57% of all investors, both retired and not retired, changes to these two programs ranked highest, tied with gas prices, as issues that could have [...]