The reverse mortgage program can be a very valuable tool for addressing issues related to aging in place in the United States, as well as circumventing some problems related to the spread of COVID-19 in senior housing and nursing facilities. However, some issues including the volatility for the Federal Housing Administration and various servicing problems […]
The tax implications of using a Roth Individual Retirement Account (IRA) to convert assets from a traditional retirement account may give some people understandable pause, however one potential solution for paying the associated taxes could be the use of a reverse mortgage. This is according to Stephen Resch, VP of retirement strategies at Finance of […]
Every business which serves a market of customers has to determine what counts as a benchmark for success, and oftentimes one of the key benchmarks is market penetration. Since businesses often have to define what market penetration is — and what it means — for their particular business segment, that determination can help the people […]
The Federal Reserve on Monday announced that it was endorsing a statement encouraging banks to transition away from the U.S. dollar-based London Interbank Offered Rate (LIBOR) index “as soon as practicable,” according to an announcement the federal bank issued on Monday morning. “Given consumer protection, litigation, and reputation risks, the agencies believe entering into new […]
A reverse mortgage professional can often be seen as many things to current and prospective clients, which is likely unavoidable in many cases due to the far more consultative nature of the reverse mortgage product when compared to its forward counterpart. However, this is precisely what can lead to many reverse mortgage professionals wanting to […]
The Federal Housing Finance Agency (FHFA) announced on Wednesday that it would be increasing the conforming loan limits on mortgages to be acquired by Fannie Mae and Freddie Mac for the fifth consecutive year. In most of the United States, the maximum conforming loan limit for one-unit properties in 2021 will be $548,250, an increase […]
One of the most pronounced deficiencies of existing retirement programs is that instead of integrating three core features — including asset management, annuities and a Home Equity Conversion Mortgage (HECM) — these are all components which are considered separately. Integrating them into a single, efficient retirement plan could be very beneficial for a retiree, according […]
The approaches for seniors who carry mortgage debt into retirement may be determined by the nature of the debt itself, as well as whether or not that type of debt will impact their retirement financing goals. This is according to a column at CNBC, examining the best practices for paying off debt ahead of a […]
Thank you once again to Reverse Mortgage Daily’s dedicated base of readers for your continued support! As a reminder, RMD and Aging Media Network’s offices will be closed on Thursday, November 26 and Friday, November 27 in observance of the Thanksgiving holiday. Our normal posting schedule and daily email will resume on the morning of […]
The results from the November general election in the United States could have notable impacts on key issues relevant to the reverse mortgage industry including the selection of a new servicing contract for the Federal Housing Administration (FHA), the legislative priorities of the White House and Congress as it relates to matters of housing, the […]
