RMD would like to wish its readers a safe and Happy Halloween this weekend. We’ll see you back here on Monday, once we get out of our candy comas.
In case you missed it, here’s what happened in reverse mortgage news this week:
Reverse Mortgages Offer ‘Disruptive’ Retirement Strategy—Reverse mortgages have been around for decades, even before the Department of Housing and Urban Development created the Home Equity Conversion Mortgage (HECM) program in the late 1980s. But while these financial products aren’t necessarily new, today they are becoming a “disruptive” way to leveraging home equity, says one reverse mortgage researcher.
Fox News: Is Getting a Reverse Mortgage a Good Idea?—Reverse mortgages have undergone several key changes this year, but for the masses that aren’t familiar with these products, it still begs the question of where taking out a reverse loan is a smart move, according to a recent Fox News TV segment.
Reverse Mortgage Line of Credit: A ‘Powerful’ Retirement Tool—The line of credit feature on a reverse mortgage has garnered considerable attention lately for its usage as part of a coordinated retirement planning strategy. And for many people, a reverse mortgage line of credit can be ‘the most powerful tool,’ according to a recent The Dallas Morning News column.
Reverse Market Insight, RMS Subsidiary Team on HERMIT Contract—HUD has chosen Reverse Market Insight to help manage the Home Equity Reverse Mortgage Information Technology (HERMIT) system alongside Mortgage Asset Systems, LLC, a wholly-owned subsidiary of Reverse Mortgage Solutions, Inc. The contract awarded to RMI will enable the company, along with MAS, to take the HERMIT system to the next level, while still retaining the existing HERMIT platform.
New Reverse Mortgage Event Spotlights Cybersecurity, Financial Planning—To help reverse mortgage professionals kick off 2016, ReverseVision is hosting its first ever User Conference in San Diego, a new event specifically designed to increase revenue and efficiencies for RV Exchange users. Taking place January 20-22 at the Sheraton San Diego Hotel & Marina, UserCon 2016 will feature a combination of general sessions and career tracks for reverse mortgage executives, loan officers, account executives, administrators and more.
Written by Jason Oliva