Friday Round-Up: CFPB Gives Few Answers on Reverse Mortgage Ads

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

4 Reasons Reverse Mortgages Aren’t Mainstream Products—Yet—Despite ongoing changes that aim to make the reverse mortgage a safer product for consumers and the HECM program as a whole, the product still has several barriers to overcome in order to transition into a mainstream retirement planning tool.

TIME: When Reverse Mortgages Become Too Risky—Reverse mortgages may be viable retirement assets for many senior homeowners, however, there is a point when they can become too big of a risk to accomplish certain financial planning strategies, reported TIME in an article this week.

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Reverse Mortgage Counselors Adjust to ‘New Normal’ Under Financial Assessment—More than a month into the Financial Assessment and reverse mortgage counselors are experiencing a calm after the storm. See what four ways the Financial Assessment is impacting reverse mortgage counselors as they wait for the “new normal” to set in.

RMF, Cherry Creek Rise in Reverse Mortgage Ranks Despite Slow April—Reverse mortgage endorsement volume fell slightly more than 3% in April, but some reverse mortgage lenders bucked the industry-wide trend with some notable loan production during the month, per the latest industry data release from Reverse Market Insight. 

CFPB Offers Few Answers on Reverse Mortgage Marketing—A week after the release of a focus group study that claimed some reverse mortgage ads are misleading and give false impressions, the Consumer Financial Protection Bureau has offered few answers as to how the reverse mortgage industry can improve its marketing efforts to better reach seniors in a way that satisfies the federal consumer protection agency.

Written by Jason Oliva

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