Thanksgiving Round-Up: Reverse Mortgages Get Tougher

RMDThanksgiving2

In observation of the Thanksgiving holiday, RMD will be out of office for the remainder of the week, but will return to our normal posting schedule Monday, December 1. RMD in the meantime would like to wish all of our readers a safe and enjoyable Thanksgiving.

In case you missed it here’s what happened in reverse mortgage news this week:

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What’s Next for the CFPB and Lender Oversight?—As the Consumer Financial Protection Bureau continues its crackdown on mortgage lenders, its practices open the gate for further lawsuits and enforcement actions.

Washington Post: Reverse Mortgages Get Tougher—The Washington Post spotlights the “stiffer underwriting standards” that now come with reverse mortgages since the announcement of the financial assessment requirement.

CBS News Weighs Reverse Mortgage Benefits in Retirement—For individuals nearing retirement with modest savings but considerable home equity, a reverse mortgage can be practical in supplementing savings, suggests CBS News MoneyWatch in a recent article.

The Guardian: Are Mortgage Brokers a Better Bet?—With more than 60% of home loans are now taken out through a broker, some industry experts predict this could be the preferred route for three-quarters of homebuyers in the coming years, wrote The Guardian in a recent article.

American Seniors in Worse Shape Than Those in Other Nations—Adults age 65 and older living in the U.S. are sicker and more likely to struggle with paying their medical bills than seniors living in other countries, according to a recent international study from The Commonwealth Fund.

Written by Team RMD