In case you missed it… here’s what happened in reverse mortgage news this week.
Obama Cracks Reverse Mortgage Joke at Washington Press Dinner—President Obama was all about the wisecracks at a press dinner held last week in Washington. Among the subjects of his jokes: Hillary Clinton’s email account, his own old age, Fred Thompson—and reverse mortgages.
Senators Aiming to Solve Retirement Crisis Hear About Reverse Mortgages—The Senate Special Committee on Aging has been busy at work fielding potential solutions for the impending retirement crisis facing Americans today, and in the distant future. Among the ideas pitched in a hearing last week were reverse mortgages, brought up by witness Alicia Munnell of the Boston College Center for Retirement Research.
AAG Ramps Up National Exposure With Home Health Partnership—In its latest initiative to grow national exposure for reverse mortgages, AAG announced it is teaming with a home health provider in order to help get the word out to clients who can benefit from both services as they age in place.
JPMorgan to Buy $45 Billion Mortgage Servicing Portfolio from Ocwen—Ocwen had a busy week unloading mortgage servicing rights. As promised following regulatory scrutiny in recent months, the company worked toward selling off its agency loan portfolio this week including a transaction with JPMorgan and a subsequent deal with Walter subsidiary Green Tree.
Boomer Housing Trends: What Makes Them Buy, Sell—What makes Boomers buy? It may depend on their age, finds the National Association of Realtors in a recent nationwide survey. NAR divides the baby boomer population into two separate groups to analyze what motivates them to move, stay, downsize and sell.
Written by Elizabeth Ecker