ReverseVision Folds Proprietary Reverse Mortgages into Origination Software

Reverse mortgage software firm ReverseVision this week announced expanded services aimed at the burgeoning proprietary market. Under the San Diego-based ReverseVision’s new proprietary outreach initiative, lenders can submit a packet of information about their individual private loans. Within eight to 10 weeks, that product will be fully incorporated into the company’s RV Exchange loan origination […]

Senate Committee Advances Kraninger’s Nomination to Lead CFPB

The president’s nominee to permanently replace Mick Mulvaney at the top of the Consumer Financial Protection Bureau cleared one major hurdle on Thursday, receiving confirmation by the Senate Banking Committee. Kathy Kraninger narrowly made it through the first step of her confirmation process, gaining the committee’s approval with a 13-12 vote split evenly down party […]

Even High-Income Seniors Could Face Difficult Long-Term Care Math

The retirement-savings crunch has been an ongoing problem for low- and middle-income seniors, but a new warning from investment research firm Morningstar suggests that even well-off Americans should double-check their retirement calculus. “Very high-income, high-net-worth people can plan to self-fund long-term care costs, though I’d advise them to do the math on long-term care cost […]

Middle- and Lower-Income Americans May Be Falling Behind with Savings

The Bureau of Economic Analysis released updated statistics last month showing a sunnier savings outlook for Americans than previously estimated — but some commentators note that not everyone may be sharing in the success. After releasing first-quarter data showing the personal savings rate sat at 3.3%, the BEA recently amended its estimate to 7.2%, according […]

Reverse Mortgage Startup MortgageRewind Targets Online Originations

In an era of reverse mortgage uncertainty, a new startup plans to stand out from the crowd by providing an online-heavy approach to originations. The Silverthorne, Colo.-based MortgageRewind.com formally launched on Monday after about a year of development, with a platform designed to pair interested seniors with licensed loan officers from the first point of […]

Lender Rides Reverse Mortgage Success in Australia, New Zealand

Reverse mortgage lender Heartland Bank recently reported strong results across Oceania, with double-digit growth in both its Australia and New Zealand operations. The New Zealand-based Heartland saw 31% growth in net receivables related to reverse mortgages in Australia during the 12 months ended this past June, according to financial publication Interest, along with a 12% […]

HUD Accuses Facebook of Enabling Housing Discrimination Through Ads

The Department of Housing and Urban Development late last week filed a formal housing discrimination complaint against Facebook, accusing the social networking giant of allowing companies to exclude certain groups of people from seeing their advertisements. HUD says Facebook violated the Fair Housing Act when it gave advertisers a host of filtering options based on […]

FHA Extends Post-Hurricane Reverse Mortgage Foreclosure Moratorium

The Federal Housing Administration last week offered another extension on the foreclosure moratorium instituted in the wake of last summer’s hurricanes. Affected borrowers in Puerto Rico and the U.S. Virgin Islands now have until September 15 to work out any potential foreclosure issues surrounding their FHA-backed reverse mortgage loans before the process begins again. Foreclosures […]