In case you missed it, here’s what happened in reverse mortgage news this week:
Will the Quicken-DOJ Dispute Spell Doom for One Reverse Mortgage?—The ongoing legal dispute between the federal government and one of the nation’s largest mortgage lenders is leaving the fate of a top-5 reverse mortgage lender lost in the shuffle. This week, a U.S. District Judge in Washington, D.C. dismissed a lawsuit filed by Quicken Loans, parent company of One Reverse Mortgage, against the U.S. Department of Justice—the latest action in the years-long saga between the parties.
Why This AARP Columnist Changed Her Mind on Reverse Mortgages—Thanks to various program changes in recent years, reverse mortgages have been winning over everyone from financial advisors to community banks and the mainstream press, and even one nationally recognized personal finance commentator who has recently changed her view on the product.
Biggest Opportunities for Reverse Mortgage Lenders in 2016—A new year brings new opportunities. And for the reverse mortgage industry, 2016 could be one of the most promising years yet. RMD reached out to various industry leaders to hear what they view as the biggest opportunities for reverse mortgage lenders in 2016. See what they said.
Reverse Mortgages Will Change Retirement Planning in 2016—The retirement planning world saw a number of policy changes in 2015 that will affect how retirees plan in 2016. One of the most important changes: the Financial Assessment and enhanced consumer protection rules for reverse mortgages, according to recent Forbes article.
These Were the Reverse Mortgage Industry’s Top Ginnie Mae Issuers in 2015—Issuers of HECM mortgage-backed securities (HMBS) sold a total of $9.5 billion in 2015, well-above the previous year’s tally thanks to an all-time high of 14 different lenders, according to the latest market commentary from New View Advisors. See where industry issuers ranked in 2015.
Written by Jason Oliva