In case you missed it, here’s what happened in reverse mortgage news this week:
The Top Reverse Mortgage Lenders for Retail, Wholesale Growth in 2015—Reverse mortgage wholesale volume bounced back to end 2015 on a positive note. But although total endorsement counts were less than what some industry leaders expected, 2015 was a big growth year for several reverse mortgage lenders on both the wholesale and retail sides.
For 90-Year Old Advisor, Reverse Mortgage Work is Self Satisfying—Everyone has a reason for doing something—a motivation that drives them to a higher purpose in life. Others, like one 90-year-old reverse mortgage originator, find their true calling as a byproduct of life’s unexpected circumstances—and he’s been active in the industry for more than 20 years.
Home Point Targets Reverse Mortgage Growth Through Strategic Hires—t’s been nearly one year since Home Point Financial Corporation entered the reverse mortgage business following its acquisition of New Jersey-based lender Maverick Funding. As the company continues to solidify its place amongst the industry’s top lenders, Home Point is relying on strategic hires to grow its reverse mortgage presence nationwide.
Forbes: These Stigmas Give Reverse Mortgages a Bad Reputation—In the reverse mortgage industry, there is a widely held belief that Home Equity Conversion Mortgages suffer from a bad reputation, one that is largely characterized by a gross misunderstanding of the product by the general public as well as financial professionals.
HUD Offers $40 Million in Housing Counseling Grants—The Department of Housing and Urban Development (HUD) plans to award $40 million worth of grants to support hundreds of housing counseling organizations nationwide, including those focused on reverse mortgages, the agency announced last week.
Written by Jason Oliva