In another busy week filled with a variety of reverse mortgage industry news, RMD would like to take this time to congratulate American Advisors Group’s Teague McGrath and Cheryl Chargin who recently tied the knot. Congrats to the newlyweds!
In case you missed it, here’s what happened in reverse mortgage news this week:
Q&A: Torrey Larsen on His Newest Reverse Mortgage Endeavor—RMD caught up with former Security One Lending head Torrey Larsen to hear more about his newest reverse mortgage venture, Retirement Funding Solutions, which launched earlier this year. The interview discusses what lies on the horizon for RFS in 2015, beyond, as well as the biggest challenges the reverse mortgage industry faces today.
Reverse Mortgage Lenders ‘Swing Big’ as July Volume Slumps—Total endorsements for Home Equity Conversion Mortgages (HECMs) dipped 5% in July compared to the previous month. As is usually the case, several top-10 lenders were able to buck the declining trend, with one seeing its volume jump nearly 50% in July.
Reverse Mortgage Lenders Adapt to New Credit Rules—As reverse mortgage originators adapt to the Financial Assessment, particularly the credit and income requirements of the rule, some are turning to platforms like “credit desks” that can allow them to gain an initial assessment of issues regarding a prospective borrowers’ credit.
How the Reverse Mortgage Industry Can Attract Fresh Talent—Greater education and outreach are the cornerstones for how the reverse mortgage sector can attract fresh talent, industry members told RMD this week. Read more to hear their strategies.
HuffPost: Are Reverse Mortgages Lucrative Options?—The latest in a series of articles about reverse mortgage, the Huffington Post poses the question: are reverse mortgages lucrative options? Citing a recent paper from the Edinburg University of Pennsylvania, the article focuses on the use of a reverse mortgage line of credit as a more “lucrative” option than selling investments.
Written by Jason Oliva