Holiday Round-Up: Is the Reverse Mortgage Industry Failing the H4P?

RMD will be observing the Christmas holiday December 24-25, but will return to our normal posting schedule on Monday, December 28. RMD wishes all of its readers and their families a safe, enjoyable Merry Christmas and happy holidays. We’ll see you back here on Monday.

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

Is the Reverse Mortgage Industry Failing the HECM for Purchase?—With 10,000 Baby Boomers turning 62 years old each day in the U.S., and 700,000 seniors having purchased homes in the past year, the Home Equity Conversion Mortgage for Purchase has an enormous market opportunity to capture, yet the product is still vastly underutilized. This begs the question: Is the reverse mortgage industry failing the H4P?

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TIME: When Using a Reverse Mortgage Makes Sense in Retirement—Various research in recent years have demonstrated the effective usage of reverse mortgages in retirement planning. But while using reverse mortgages as part of a retirement income planning strategy might not be a viable solution for everyone, it does make sense for some, said an article published by TIME this past week.

Another Year in the Books: The Top Reverse Mortgage News of 2015—With 2015 nearing its close and the New Year just a few weeks away, RMD recapped the most-read articles covering the reverse mortgage industry this year. See which stories topped the list in 2015.

After One Year in Reverse Mortgages, Willow Bend Mortgage Sets Sights on 2016 Growth—A lot has happened in the reverse mortgage industry since Willow Bend Mortgage Company entered the market in January. As the company nears its one-year anniversary next month, it sees 2016 as the year to hunker down and commit more resources to its growing reverse division.

Congress Passes Omnibus Budget Bill, Raises Funds for HUD—Last week, Congress approved a $1.1 trillion omnibus spending bill that averts a government shutdown and funds federal agencies through September 30, 2016. The 2,009-page funding bill included extended authority for the Federal Housing Administration to continue insuring the Home Equity Conversion Mortgage (HECM) program.

Written by Jason Oliva