As the secondary market for reverse mortgages continues to fluctuate, the importance of how much it costs to generate a lead has never been greater.  In theory, with margins coming down, the cost of buying leads should follow. “They’re so expensive with where the margins are right now,” says Josh Shein, President of Great Oak Lending [...]

Only a few months after the release of the HECM Saver in October 2010, the new product is gaining traction with some lenders, while others are just starting to turn their attention to the low cost reverse mortgage product. Different than the Federal Housing Administration’s HECM Standard, the Saver provides consumers access to a reverse [...]

Genworth Financial Home Equity Access has acquired the reverse mortgage websites of Premium Reverse Leads, a lead company based in Chicago, IL. RMD has been aware that the two companies were discussing a deal for quite some time, but it’s clear the acquisition recently closed after seeing the domain ownership was transferred to Genworth late [...]

The Department of Housing and Urban Development’s decision to eliminate correspondents has the potential to open up the reverse mortgage industry to a new group of brokers, but not everyone is welcoming them with open arms. “We are not trying to bring a lot of new players into the market,” said John Nixon of Bank [...]

While long term care costs continue to rise nationally, the cost for in-home care is rising at a much slower pace according to an annual survey from Genworth Financial. The cost to receive care in the home has risen at an annual rate of just 1.7 percent over the past five years, compared to increases [...]

Genworth Financial Home Equity Access, Inc. announced it has eliminated the monthly servicing fee for all fixed rate reverse mortgage products for both its wholesale and retail channels. “By eliminating the monthly servicing fee, our analysis shows that our average client can now gain access to an additional $3,500-$4,500 of their home’s equity,” said Pete [...]