The American Rescue Plan Act of 2021 doesn’t have reverse mortgage-specific provisions, but a $10 billion Homeowners Assistance Fund could be used by HECM borrowers for help during the pandemic.
Home equity can help provide a path to a more secure retirement in light of increasing senior home equity, and rising retirement instability according to a new column at The Street.
In part 2 of our exclusive interview, Former Deputy HUD Secretary Brian Montgomery shares insight into HUD’s COVID-19 response, and whether reverse mortgages came up in conversation with President Donald Trump.
In a new TV series, the iconic hero Superman moves back to the town he grew up in, and finds that his adoptive mother has taken out a reverse mortgage.
The FHA extended mortgage relief programs including measures which apply to borrowers of reverse mortgages, including the ability to complete exterior-only appraisals and the use of streamlined borrower employment verification measures.
Many long-standing issues continue to play a major role in the readiness of American seniors to put their career behind them and welcome a stable and secure retirement, but recently the situation has been exacerbated by global events. Issues including COVID-19, a volatile stock market, increasing debt burdens and less prevalence of pensions will be […]
A dispute arising out of a 2015 purchasing agreement where Nationstar Mortgage acquired the reverse mortgage servicing portfolio of former reverse mortgage lender Generation Mortgage has been decided in favor of Nationstar, which has sought indemnification from Generation over certain losses on the purchased servicing portfolio. This is according to court documents obtained by RMD. […]
A key challenge for the reverse mortgage industry continues to be the issue of product education, as many reverse mortgage professionals remain very concerned in reforming the industry’s education efforts to reach additional audiences of eligible, prospective borrowers. Additionally, 2020 saw a noticeable “cooling” of sentiment regarding private-label reverse mortgage products, visibly realized in disclosures […]
A senior considering a reverse mortgage loan should consider all the potential risks and rewards in equal measure before deciding whether or not to get such a loan. This is according to a new column by personal finance columnist Joe Cortez at NextAdvisor, as published by Time. “Fear of COVID infection at nursing home facilities […]
Global credit rating agency DBRS Morningstar has assigned a “good” ranking to Mahwah, N.J.-based reverse mortgage lender Longbridge Financial, in a move that Longbridge says will help to facilitate the creation of new products and features it can offer borrowers in the months and years to come. This is according to a release this week […]
