In case you missed it… here’s what happened in reverse mortgage news this week.
Lenders are launching media campaigns to market the “new” reverse mortgage. The reverse mortgage industry’s Extreme Summitinitiative is kicking off a TV ad campaign that showcases major changes made to the federal program.
The long-awaited reverse mortgage financial assessment is still in limbo, says HUD. Last week, the agency told attendees of the National Reverse Mortgage Lenders Association’s regional conference that it’s making progress on the financial assessment. A mortgagee letter is expected to be issued sometime this summer.
Finance experts give their two cents on important reverse mortgage questions. A recent The Street article runs through seven questions potential reverse mortgage borrowers should ask themselves when considering the loan.
Two states just made it a little easier to get LO licensing. Virginia and Arizona both passed laws recently that eased requirements for obtaining a license to originate loans.
AAG’s latest reverse mortgage ads target a new audience. Two new television commercials market reverse mortgages to the adult children of prospective borrowers.
Written by Alyssa Gerace