Ditech Risks Default, Avoids Second Bankruptcy and Terminates COO

Ditech Holding Corporation (NYSE: DHCP), parent company of Reverse Mortgage Solutions (RMS), elected not to make an approximately $9 million cash interest payment to its creditors that was due on December 17, 2018. With Thursday marking the end of a 30-day grace period related to that payment, that decision has put the beleaguered corporation at […]

Programming Note: RMD Holiday Weekend Schedule

Thank you once again to Reverse Mortgage Daily’s dedicated base of readers for starting off our new year of coverage excellently over the past couple of weeks! As a reminder, RMD’s Chicago headquarters will be closed on Monday, January 21 in observance of Martin Luther King Jr. Day. Our normal posting schedule and daily email […]

AAG Reveals Surprising Jumbo Borrower Data

The number one reason that a senior would choose to partake in a proprietary jumbo reverse mortgage is to fund repairs or modifications on their home, followed by other reasons like the purchase of an investment property, assist in a child’s property purchase or provide them with early inheritance, and to establish college funds for […]

Reverse Mortgages Could Gain Attention as Hopkins Moves to Carson Group

Financial planner, retirement income specialist and professor Jamie Hopkins has joined financial management company Carson Group as vice president of private client services and director of retirement research, as of January 1. Hopkins, a noted advocate for financial education in the retirement income space and prominent voice in the reverse mortgage community, will maintain his […]

Nearly a Third of Retirees Would Prefer to Live Somewhere Else

When asked directly if they would choose to live where they currently reside in retirement if given the option to choose again, nearly a third of respondents said “no” in a survey conducted primarily with people aged in their 70’s or above. The survey, created by Age Friendly Ventures, was conducted online in December 2018, […]

Inside Reverse Mortgage Alternatives: QuantmRE

The leadership team behind a new equity release product made available at the end of 2018 understands that it is competing with standard home equity conversion products like reverse mortgages, but also say that the increasing prevalence of tools dedicated to tapping home equity is helpful in educating prospective customers about ways in which they […]

Baby Boomers Are Finding More Reasons to Retire Later

Since the 1980s and 1990s, there have been substantial increases in the number of seniors staying in the labor force through previously regular retirement ages, according to Wellesley College researcher Courtney Coile. She calls this one of “the most significant labor market trends” in the United States. According to her research, as many as 1 […]

New Home Equity Tapping Tools Not Seen as Threat to Reverse Mortgages

Alternative home equity tapping products are largely seen by reverse mortgage originators and an industry observer as uncompetitive with the product, according to outreach conducted by RMD. The concept of allowing equity-rich and cash-poor homeowners to tap the value in their homes in order to gain access to additional cash has been growing beyond more […]

Where and How Retirees See Themselves Living

Over 80 percent of people aged 50 and over plan on living at home as they age, and 75 percent say that failing health would be a factor that would push them toward residence in an assisted living facility, followed by the loss of the ability to drive at 30 percent. This is according to […]

Baby Boomers Need Far More Money in Retirement Than They Think

Baby boomers will need far more money in retirement savings than many of them believe, and generally prefer many major metropolitan areas to retire to. This is according to a new survey by Provision Living Senior Communities with over 2,000 respondents in an attempt to determine the ideal retirement scenarios for American seniors. Other highlights […]