In case you missed it, here’s what happened in reverse mortgage news this week:
Walter Takes Retail Focus in New Reverse Mortgage Landscape — Given the changing HECM landscape fueled by new program rules that took effect early August, Walter Investment Management Corp. says it’s going to invest more heavily in the retail side of its reverse segment.
Researchers Dub CFPB Consumer Complaint Database Unlawful — A research group from George Mason University’s Mercatus Center sent a letter to the Consumer Financial Protection Bureau detailing why the agency’s proposed consumer complaint narrative database is inappropriate. The researchers raise a number of concerns rated primarily to efficacy and potential costs.
Boston College eBook Touts Retirement Benefits of Getting a Reverse Mortgage — Downsizing or getting a reverse mortgage can help add to an individual’s savings, cut expenses and free up income, according to a new e-book from the Center for Retirement Research at Boston College.
ABC: Reverse Mortgages Positioned for Comeback — Now that the economy has begun to bounce back, it’s inviting greater opportunity for increased reverse mortgage usage among older adults.
Mortgage Lead Generator Charged With Deceptive Advertising — The Federal Trade Commission has charged Intermundo Media, LLC, using the name Delta Prime Refinance, with allegedly deceiving customers with ads that falsely claimed they could refinance their mortgages for free. The company is expected to pay a $500,000 civil penalty to settle the FTC’s charges.
Written by Emily Study