You’ve made it to yet another Friday, the weekend is in sight, but before you go, here’s what happened in reverse mortgage news this week.
DNC Speech Jokes About Reverse Mortgages and Trump University — The Democratic National Convention took place this week, during which Hillary Clinton accepted the presidential nomination for the Democratic Party. Former Saturday Night Live cast member, now U.S. Senator, Al Franken (D-MN) gave a speech in which he poked fun at Republican presidential nominee, Donald Trump, about how he had to use a reverse mortgage to pay for tuition at the highly controversial Trump University.
One Reverse Mortgage Lender’s New Approach to Training Fresh Blood — The Federal Savings Bank is currently in the process of launching a new training program for industry loan officers. Mike Crossest, executive vice president at The Federal Savings Bank, discusses how the program will target those who are brand new to the industry and how an employee with a good attitude and solid core values can excel in just about anything with the proper training.
Finance of America Reverse Finds Success With New Ad Campaign —In April, Finance of America Reverse (FAR) launched its new ad campaign, “It Just Makes Sense,” which included a series of commercials aimed at giving short bits of information to consumers about the reverse mortgage product. Since the launch, the company has seen a positive impact on borrower conversion rates, explains Tom Evans, VP of marketing at FAR.
New York Times: Reverse Mortgages Making a ‘Quiet Comeback’ — Reverse mortgages haven’t always had the best reputation, but they are slowly gaining traction again as a way to fill gaps in retirement income. The New York Times covers how reverse mortgages can be used to help pay for health care costs and other financial issues that retirees didn’t plan for in their golden years.
How Senior Homeowners Are Reversing the Conventional Wisdom on Housing —Baby Boomers are shifting the idea of what it means to be retired in America, a recent study from Freddie Mac found. Instead of moving to senior communities, they are aging in place or even moving to cities that are more walkable. What the Baby Boomer generation does will have an impact one way or the other on the younger generation of homebuyers.
Written by Alana Stramowski