Celink Hires Riley as Human Resources Chief

Reverse mortgage subservicer Celink late last week announced the hiring of Mary P. Riley as vice president of human resources, a first for the company. “We are excited to add the new role of VP of human resources to Celink,” chief financial officer Rebecca Green said in a statement. “This position shows our commitment to […]

New York Times Warns of Elder Financial Abuse Among Stockbrokers

Adult children of elderly Americans often worry about their parents’ social and physical well-being, and a recent report from the New York Times shows how that concern should also extend to financial health. The paper told the story of Aerielle Dewart, an 84-year-old Manhattan woman whose investment broker at J.P. Morgan made a series of […]

Reverse Mortgage Software Providers Bring New Private Products Aboard

The reverse mortgage industry has seen a flood of new proprietary products this summer, and key software vendors have taken steps to upgrade their systems to keep pace with the changes. ReverseVision last week announced a program that allows lenders to incorporate their products into the San Diego-based company’s software within eight to 10 weeks, […]

Financial Columnist Changes Mind on Reverse Mortgages

A financial columnist this week detailed the ways in which his opinion has evolved on reverse mortgages, moving from mild distrust to solid acceptance in certain scenarios. Writing for the San Antonio Express-News, columnist Michael Taylor noted that before digging into the products in response to a reader question, he hadn’t known much about them […]

Counselors Adapt to New Private Reverse Mortgages as Volume Falls

Reverse mortgage counselors have seen their demand fall in tandem with originations and endorsements, but many are already adapting their educational programs to include the wide array of private products entering the marketplace. Counselors logged 7,198 visits during July, according to data from Ibis Software Corporation — representing a sharp decline from the recent peaks […]

Retirement Planners May Need to Bring Seniors Back to Reality

A variety of financial-preparedness surveys have found intense anxiety among seniors regarding retirement, with many feeling unprepared to face their future without a steady income from work. But another study that focused on more qualitative visions of retirement shows that many financial planners might have to provide a sobering dose of reality to their clients. […]

WSJ Positions Aging in Place as Economical Alternative to Assisted Living

Research shows that older Americans overwhelmingly want to remain at home as they get older, but the logistics of aging can often require homeowners to sell and move into an assisted living facility. Still, as the baby boomer demographic wave takes over the United States, more and more companies have found ways to make home […]

International Reverse Mortgage Push Could Soon Reach Ireland

In a summer that’s already seen reverse mortgage expansion news out of Canada, the United Kingdom, Australia, and China, yet another country may soon be getting into the game. Seniors Money is mulling a return to the equity-release products it had previously offered in Ireland, according to reports last week in the Irish Times. “As […]

Reverse Mortgage Endorsements Drop 15% in June, Recovery to Take Time

Reverse mortgage endorsements dipped 15.5% between May and June of this year, according to the most recent update from Reverse Market Insight — and the long-term arc of the post-October 2 recovery is following a well-worn pattern. Both Federal Housing Administration-approved lenders and their non-approved counterparts endorsed 2,833 loans in June, down from the 3,351 […]