In case you missed it…here’s what happened in reverse mortgage news this week.
The reverse mortgage industry weighed new marketing plan. To combat negative perceptions surrounding reverse mortgages, industry professionals gathered at a conference this month to discuss how to more effectively target today’s consumers.
Lenders “test waters” with blended sales models. The call center and branch model approach can have successful results for lenders looking to integrate both origination types.
CFPB cracks down on mortgage kickbacks. The Consumer Financial Protection Bureau (CFPB) took action against a scheme involving illegal referrals to a mortgage origination business, fining a homebuilder $100,000 in the process.
Reverse lenders prepare for new ARM market. The suspension of the fixed rate standard reverse mortgage has the industry predicting a 90% proportion of adjustable rate loans.
New reverse mortgage program gets the family involved. A Utah-based lender’s new program targets the children of reverse mortgage borrowers to clear the air of any confusion on the home equity-tapping loans.
Written by Jason Oliva