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Friday Round-Up: New Bill Paves Way for Reverse Mortgage Program Change

In case you missed it…here’s what happened in reverse mortgage news this week.

U.S. Senator introduces bill to direct reverse mortgage changes. The bill from Senator Robert Menendez (D-N.J.) grants the Federal Housing Administration authority to implement reforms to its reverse mortgage program, stemming from a hearing last week before the Senate Banking Committee. 

Loan cap issue brought to Congress. The President and CEO of the National Reverse Mortgage Lenders Association presented a testimony to Congress that the existence of a loan cap hinders market competition

Ocwen will move forward with acquisition plans, sets closing timeline. Ocwen Financial Corporation plans to close a deal to acquire Liberty Home Equity Solutions sometime in the next month.

New research explored boomer marketing tips. One marketing agency finds that shifts in the way older adults think have necessitated a need for new marketing strategies on how to reach the Baby Boomer generation.

Written by Jason Oliva