Friday Round-Up: Reverse Mortgage Retirement ‘Must Have,’ HECM 3.0

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

Standby Reverse Mortgage Line of Credit: A Retirement ‘Must Have’—When it comes to using a reverse mortgage in retirement planning, there are several strategies that make the standby line of credit feature a “must have” in the eyes of financial advisors and their clients.

Improved ‘HECM 3.0’ Reverse Mortgage Offers Attractive Value to Banks—The Home Equity Conversion Mortgage (HECM) program has undergone a number of significant changes since its inception in the late 1980s, however, the most recent round of policy updates over the past few months have HECMs likely entering a new “steady period,” says a research note released last week by Barclays (NYSE: BCS).

Advertisement

Urban Announces New Leadership Changes, Appoints Sieffert to President—Effective October 15, Urban Financial of America’s current Chief Operating Officer Kristen Sieffert will assume the role of President at the top-10 reverse mortgage lender, where she has been a key leader for four years and has been instrumental in the company’s growth and success.

Reverse Mortgages Offer Forward Brokers New Opportunities—With a shift back to a purchase-based market being driven by rising interest rates on the refinancing business, now is the time for traditional forward mortgage brokers to look for new revenue streams to help bolster their bottom lines, according to a recent commentary from one mortgage industry executive. 

Changing the Tune on Reverse Mortgages: An Educational Crusade—When someone forms a hard opinion on something, it’s tough to change their mind. But such is the undertaking of the reverse mortgage industry in its ongoing crusade to change perception and raise awareness of the “new” Home Equity Conversion Mortgage.

Written by Jason Oliva