In case you missed it, here’s what happened in reverse mortgage news this week:
Analyst: Market Poised for 15% Drop in Home Values—As the housing market continues to recover from the 2008 downturn there may be some pitfalls in the years to come, said former Goldman Sachs executive Joshua Pollard. In an 18-page report to sent to the White House, Pollard said he is confident home prices will drop by 15% in within three years.
Boston Globe: Considering a Reverse Mortgage? Proceed With Caution—Like other notable media outlets that have broached the subject of reverse mortgages, a recent article from The Boston Globe advises prospective borrowers do their homework before taking out the loans.
LA Times: Reverse Mortgage Helps Older Homeowners Retire As They Wish—For those retiring with a mortgage or other forms of debt, The Los Angeles Times suggested to its readers a number of possible options to help lessen the burden, including using a reverse mortgage.
CFPB Updates Reverse Mortgage Guide, Outlines Risks for Consumers—Recent principal limit and non-borrowing spouse guideline changes are just a few of the key updates included in the Consumer Financial Protection Bureau’s reverse mortgage guide released this week.
Maverick Funding Eyes Wholesale Reverse Mortgage Growth Post-Acquisition—Top-20 reverse mortgage lender Maverick Funding is ramping up its wholesale operations in the midst of its acquisition by new mortgage startup Home Point.
Written by Jason Oliva