Last week, the Intercontinental Exchange (ICE) Benchmark Administration published a new 10-year London Interbank Offered Rate (LIBOR) SWAP rate for the first time since February 27, which came in this week at an estimated 45% lower than the previously-published rate. This presents a new opportunity for reverse mortgage borrowers to get a higher level of […]
Among a series of six smart financial moves someone can make if they have found themselves laid off before planning to retire is the consideration of a reverse mortgage, among other steps that near-retirees can take. These other steps can include delaying the taking of Social Security, tapping existing investments, expanding a job search to […]
For anyone who follows the reverse mortgage industry, it’s almost impossible to avoid the name and brand of American Advisors Group (AAG). The company currently stands as the undisputed leader of the reverse mortgage industry, with the largest market share and arguably the most visible branding in the public consciousness owing to its significant investment […]
In the first five years of retirement, American seniors are likely to face significant financial challenges in making ends meet. According to a survey of Americans who retired between 1992 and 2014 conducted by the Consumer Financial Protection Bureau (CFPB), over half (51%) had income, savings or other non-housing assets allowed them to maintain the […]
Reverse mortgage originators often find themselves in very difficult circumstances depending on the reason that clients reach out to them for help in the first place. Sometimes it’s for a more affluent person to get access to a product that can strategically help their portfolios, while other times it’s to try and make sure a […]
Reverse mortgages aren’t cheap for seniors and should be avoided particularly for short-term needs, but recent research has identified an effective use of the product concept for those who have investments during volatile periods of market activity. This is according to Liz Weston, a certified financial planner and finance expert at NerdWallet. “Stay-at-home orders may […]
The only true constant in the world is change, and for the reverse mortgage industry that seems to especially be the case. Because the industry is often defined by factors that come from both evolving business necessities as well as changing political headwinds, the ability for the reverse mortgage product category to remain a reliable […]
There are few organizations in the United States that are more committed to spreading the word about home equity incorporation in retirement than the National Reverse Mortgage Lenders Association (NRMLA). As the foremost trade association operating on behalf of the reverse mortgage industry, NRMLA is uniquely positioned and suited to serve its interests at all […]
As proprietary reverse mortgage products have emerged as an increasingly dominant player in the broader reverse mortgage industry, determining what common attributes are shared by a group of borrowers who decide to go the proprietary route becomes essential so that lenders can best tailor their proprietary offerings to meet the needs of their clients. The […]
23% of workers who are either employed or recently unemployed express that their confidence in retiring comfortably has declined due to the economic effects of the COVID-19 coronavirus pandemic. This is according to “Retirement Security Amid COVID-19: The Outlook of Three Generations,” a report released by the nonprofit Transamerica Center for Retirement Studies (TCRS). “Workers […]
