The National Reverse Mortgage Lenders Association issued two new Ethics Advisories which outline the expected standards and practices in selling other financial and insurance products as well as standards for mortgage lead generation activities.
The first Advisory 2009-01 “Ethical Offers of Other Financial and Insurance Products and Services”  discusses ethical practices in which members […]

Senator Claire McCaskill held a Special Committee on Aging Field Hearing this week to examine reverse mortgage industry problems and possible solutions.  McCaskill feels that while this can be a useful tool for some, many elderly homeowners are prime targets for predatory lending schemes in a rapidly growing industry said a press statement.
During her speech, […]

Reverse Fortunes Weekly Podcast: Episode #55
You’ve got to be kidding! Reverse mortgages the next sub-prime mess?
New Podcast on Reverse Fortunes Weekly.  Keep up to date on industry news and trends along with training and interviews in this exciting weekly podcast.

To listen login or become a free member to listen to past & current […]

False advertising, while not new, is cropping up often enough in direct mail pieces to prospective reverse mortgage customers that public and private authorities are expressing concern.
Often appearing as if it is coming from an official (i.e. government) source, the appeals offer to help unsuspecting recipients - usually seniors - take the necessary and proper […]

More lenders are turning to social marketing on the web to promote their reverse mortgage business using tools like Facebook and Twitter.  Even the National Reverse Mortgage Lenders Association started hosting marketing panels on social media tools during its road show and as someone who participated, it’s clear that people in our industry are […]

As government activism further ramps up and the mortgage world feels the impact, lawmakers are increasing demands on loan purveyors of all stripes to be taught, tested and tagged. “The big moment for all of us is the SAFE Act,” says Ken Markison, assistant vice-president and regulatory counsel, Mortgage Bankers Association, referring to the Secure […]