In case you missed it, here’s what happened in reverse mortgage news this week:
New Research Sheds Light on Reverse Mortgage Default Prevention—Through a study funded in partnership with HUD and counseling agency CredAbility, Ohio State University researchers found there are certain relationships between a borrower characteristics and the likelihood of default.
Denver Post: Reverse Mortgage Rebranding Under Way—Denver is just one market where a new “retire smart” campaign is taking shape, with the National Reverse Mortgage Lenders Association spearheading a new reverse mortgage marketing approach.
Government Watchdog Launches Probe into CFPB—In light of allegations of employee discrimination and retaliation at the Consumer Financial Protection Bureau, the Government Accountability Office has agreed to conduct a review of the consumer watchdog group.
Fox: Remarrying With a Reverse Mortgage Presents Challenges—Despite the non-borrowing spouse policy changes enacted earlier this week, several questions are left unanswered as to how reverse mortgages will play when a borrower remarries.
New Reverse Mortgage Rules Halt Some Texas Loans—Also on the topic of non-borrowing spouses, the new policy is creating a possible “Catch-22” for Texas originators.
Written by Jason Oliva