We’ve made it to another Friday. A lot has happened in the last seven days, but in case you missed it, here’s what happened in reverse mortgage news this past week:
Study: Reverse Mortgage Borrowers Report High Satisfaction Levels—Reverse mortgages can serve a variety of needs for the borrowers who use them. While some motivations to obtain these loans are more obvious than others, borrowers report high satisfaction overall when it comes to using a reverse mortgage to foster independence and improve well-being, according to the results of a recent survey.
Educating the Masses on Reverse Mortgages, One Article at a Time—Widely circulated news outlets such as The Wall Street Journal, CNBC and Kiplinger—to name a few—have all spotlighted the newfound use of reverse mortgages in retirement strategies. But, few financial publications have been as emphatic toward the Home Equity Conversion Mortgage (HECM) product as Forbes.
Retail Volume Slumps, Hits Brakes on Reverse Mortgage Momentum—Overall HECM endorsements fell 8% in January 2016 from the previous month—a decline propelled by a 12.9% plummet in retail endorsement growth, as noted in the latest data release from Reverse Market Insight this past week.
Forbes Explores Reverse Mortgage Repayment, Tax Implications—Reverse mortgages are complicated financial instruments that have a lot of moving parts. As such, it is important for consumers to know some of the most critical components of HECMs, including when the loan requires repayment, as well as the potential tax advantages associated with reverse mortgages, according to a recent article from Forbes.
New Reverse Mortgage Launch Sees Growth Opportunity in H4P—A south-Atlantic mortgage bank recently launched its first-ever reverse mortgage lending operations helmed by one industry veteran who sees opportunities for growth in the Home Equity Conversion Mortgage for Purchase (H4P) market.
Written by Jason Oliva